Trade mission is an international trip by
government
A government is the system or group of people governing an organized community, generally a state.
In the case of its broad associative definition, government normally consists of legislature, executive, and judiciary. Government is a ...
officials and
business
Business is the practice of making one's living or making money by producing or Trade, buying and selling Product (business), products (such as goods and Service (economics), services). It is also "any activity or enterprise entered into for pr ...
people that is organized by agencies of national or provincial governments for purpose of exploring
international business
International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
It involves cross-border transactions of goods and services between two or more ...
opportunities. Business people who attend trade missions are typically introduced both to important business contacts and to well-placed government officials. A trade mission is a way in which countries or organizations can seek out potential buyers and sellers. Trade missions will usually occur after one party has undergone significant market research. In short, trade mission is a trip that is designed to transport business executives into a foreign business environment to achieve
International business
International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
It involves cross-border transactions of goods and services between two or more ...
relationship.
Considerations
Several factors are needed to be considered whenever a business executive is trying to join a trade mission.
[http://going-global.com/articles/understanding_trade_missions.htm ]
Clearly stating the goal of trade mission before the departure is important.
Choosing the target industry and the participants is a crucial aspect.
Executives have to analyze the costs and possible future benefits of trade mission.
Careful evaluation of the agenda is required.
Target audience should be decided upon actual trade mission.
Controversy regarding Trade Mission
Trade missions are supposed to be about developing trade opportunities. However, when government agency is involved, there is controversy regarding international politics being involved. Trade mission might not be conducted targeting particular industry or actual companies which won't be about developing international trade but international politics.
Canada
In Canada, trade missions which include both the federal and provincial governments working together (perhaps also with cities and private businesses) are called "
Team Canada Mission Team Canada Mission in Canadian politics is a public-relations mission led by the Prime Minister of Canada, the Minister of International Trade along with the leaders of the provinces and territories of Canada.
The purpose of the Mission is to pro ...
s"
UK
UK sends British High commissions to India for trade missions.
[https://storify.com/ukinindia ] UK's continuous efforts with India in having trade missions in both countries have brought huge economic benefits.
See also
*
Globalization
Globalization, or globalisation (Commonwealth English; see spelling differences), is the process of interaction and integration among people, companies, and governments worldwide. The term ''globalization'' first appeared in the early 20t ...
*
International trade
International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services. (see: World economy)
In most countries, such trade represents a significant ...
*
International business
International business refers to the trade of goods, services, technology, capital and/or knowledge across national borders and at a global or transnational scale.
It involves cross-border transactions of goods and services between two or more ...
*
International politics
International relations (IR), sometimes referred to as international studies and international affairs, is the Scientific method, scientific study of interactions between sovereign states. In a broader sense, it concerns all activities betwe ...
References
International trade
Diplomatic conferences
Types of diplomacy
{{international-trade-stub