Trade Techniques, bilete la Examen de stat - Tehnici de Comert Exterior

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1. Counterpart: development, advantages and disadvantages. The reasons for the counterpart operations use in developed and developing countries. Countertrade operation consists of transactions among which there is a contractual link, a conditioning of a buying transaction with a selling one. History: – 1626 – Peter Minuit, which was working for the Dutch East India Company, sold bovines, trinkets, blankets worth 24 dollars for Manhattan Island. – 1920-1930 – first stage of countertrade development (economic recession of 1929-1933). In Latin America almost 90% of all intraregional trade was realized in counterpart. Goods traded via countertrade: natural resources, oil products, agricultural products; – 1948-1949 – second stage of countertrade development (after the WWII). According to WTO, almost 10 % of the international trade of 70-80s was performed in countertrade, but according to UNCTAD – 15-25% of international trade. Through countertrade, developing countries export agricultural products (34%), manufactured products (24%), oil and oil products (10%), ores and metals (11%) etc. Reasons for developing countries to countertrade: – Necessity to reduce the external debt; – Lack of currency reserves to finance the imports (import of technologies); – Ensuring imports of equipment, energetic resources by signing strategic long-term countertrade contracts; – Gaining favorable positions on new markets; – Avoidance of tariff and non-tariff barriers imposed by developed countries; – Avoidance of high cost conventional methods of financing and paying by signing clearing agreements.