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Electronic Commerce and International Trade

Electronic commerce, e-commerce for short, allows domestic and international trade over the Internet. E-commerce is boon for both global sourcing and import and export. The boost to global sourcing through E-commerce is because of it’s to conduct online marketing, monitoring supply chain and monetary & data transaction in a dependable manner. E-commerce makes global sourcing easier to monitor with its evolutionary phases.

International trade depends much on E-commerce. International trade community was skeptic about e-commerce let alone conducting import/export and global sourcing. It is harsh to blame them for not conducting their regular global sourcing and international trade activities as there were gaping security concerns as there was lack of awareness. E-commerce isn’t all about money transfer and/or credit card processing over internet as was assumed.

E-commerce permits online shopping, e-filing of customs documents enquiry floating and invoicing before a single dollar is transmitted. All these are exact same activities involved in offline import/export in a global sourcing scene with huge amounts of time and labor removed.

In an international trade, either for import/export or global sourcing, never mail our account or credit card numbers to anyone or don’t scribble it on papers for any reason. E-commerce companies in international trade are constantly innovating and have succeeding in their endeavor. Amazon and BizRate are doing not just global sourcing but import and export also through e-commerce backed up by ground operations. If stock/commodities trading and banking around the globe is a success, it’s mainly due to the robust e-commerce. Import and export as well as international trade laws are suitably amended to ensure secure commerce.

E-commerce has arrived on the global sourcing scene as both import and export and international trade partners are accepting it. Despite its growing stature and popularity E-commerce is still thriving in retail sector domestically and the international trade needs to cover a long distance before it catches up. Another reason for import/export operators’ leaning towards E-commerce is the growing costs of delays in processing POs and invoices through traditional methods which render global sourcing useless.

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