Exporting and Importing
Exporting refers to sending of goods and services from the home country to a foreign land. Similarly, importing is procuring foreign goods and bringing them into one's home country. There are two major ways in which a company can export or import products: direct and indirect exporting/importing. As regards direct exporting/importing, a company itself approaches the foreign customers /suppliers and looks after all the formalities related to exporting/ importing activities including those associated with transportation and financing of goods and services. On the other hand, Indirect exporting/importing, is one where the company's participation in the export/import operations is minimum, and most of the tasks relating to export/import of the goods are done by some middle men such as buying offices or export houses of customers abroad located in the home country or wholesale importers in the case of import operations. Such companies indirectly deal with foreign customers in the case of exports and suppliers in the case of imports.