David William

Oman is a member of Gulf Cooperation Council (GCC) with other members like UAE, Saudi Arabia, Qatar, Kuwait, Bahrain. GCC follows common external tariff and regulation which is applicable in all these member Countries.
Import of any product in Oman should have G mark on products which ensure consumer safety.
Following products are highly exports from India
1. Mineral fuels, mineral oils and products of their distillation; bituminous substances; mineral waxes
2. Ships, boats and floating structures
3. Articles of iron or steel
4. Machinery, mechanical appliances, nuclear reactors, boilers; parts thereof
5. Cereals
6. Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles
7. Iron and steel
8. Organic chemicals
9. Ceramic products
10. Meat and edible meat offal"

The Association of Port Health Authorities is the only UK wide organisation representing the interests of Local Authorities and Port Health Authorities with responsibilities for health controls at sea and airports. They have responsibility to protect the public, environmental and animal health of the UK. Some are specially created local authorities for seaports where the port area is covered by more than one local authority. These authorities carry out a range of health controls at the UK borders. These include checks on imported food, inspecting ships and aircraft for food safety and infectious disease control, as well as general public and environmental health checks. The work is carried out by port health officers (specialist environmental health officers) and veterinarians, who are employed by the local authority or port health authority. Port health authorities carry out checks on food and feed consignments in order to: ensure that only products that are safe to eat enter the food chain, safeguard animal and public health, check compliance with EU rules and international trading standards.

International trade theory is a sub-field of economics which analyzes the patterns of international trade, its origins, and its welfare implications. International trade is the exchange between two folks or entities in two different countries. International trade theories are completely different type of theories that give explanation on international trade. There are several international trade theories like: mercantilism; absolute advantage; comparative advantage; Heckscher-Ohlin theory; product life cycle theory. Mercantilism projected that a rustic ought to try and export over it imports, so as to receive gold. The most criticism of mercantilism is that countries area unit restricted from import, a hindrance of international trade. Economist developed the idea of absolute advantage that stressed that a rustic ought to turn out merchandise or services if it uses a lesser quantity of resources than different countries. Ricardo explicit in his theory of comparative advantage that a rustic ought to concentrate on manufacturing and commercialism product within which it’s a comparative advantage and it ought to import merchandise within which it’s a comparative disadvantage. Hecksher-Ohlin’s theory of issue endowments stressed that a rustic ought to turn out and export merchandise that need resources that area unit overabundant within the home country. Economic expert tested the Hecksher-Ohlin theory within the U.S. and located that it absolutely was not applicable within the U.S. Raymond Vernon’s product life cycle theory stresses that a corporation can begin to export its product and later war foreign direct investment because the product moves through its life cycle. Eventually a country’s export becomes its import.

Flexible exchange rate system is claimed to have the following: Flexible Exchange Rates Create a Situation of Instability and Uncertainty. An important argument against flexible exchange rates is that too frequent fluctuations in exchange rate under it create uncertainty about the exact amount of receipts and payments in foreign exchange transac­tions. This instability hampers foreign trade and capital movements between the countries. Dampening Effect on Foreign Trade: Under the flexible exchange rates, the price of foreign exchange or international value of the national currency is quite uncertain. As a result, they are unable to take proper decisions regarding export and import of goods. Obviously, this has a dampening effect on the volume and growth of foreign trade. Widespread Speculation with a Destabilising Effect: The system of flexible exchange rates has been opposed on the ground that under it there is widespread speculation regarding exchange rates of currencies which has a large destabilising effect on these rates. Provides an inflationary bias to an economy: Another shortcoming of the flexible exchange rates is that they have an inflationary impact on the economy. It has been pointed out that whenever due to deficit in balance of payments, the currency depreciates, the prices of imports go up. The higher prices of imported materials raise the prices of industrial products and thus generate cost- push inflation.

Norway is a member of the European Free Trade Area (EFTA). Obviously, Norway major trade happens within EFTA countries. However, some major products listed below are imported by Norway from India. 1. Residues and waste from the food industries; prepared animal fodder 2. Articles of apparel and clothing accessories, not knitted or crocheted 3. Other made-up textile articles; sets; worn clothing and worn textile articles 4. Articles of leather; saddlery and harness; travel goods, handbags and similar containers; articles of animal gut (other than silkworm gut) 5. Electrical machinery and equipment and parts thereof; sound recorders and reproducers, television image and sound recorders and reproducers, and parts and accessories of such articles 6. Organic chemicals 7. Furniture; bedding, mattresses, mattress supports, cushions and similar stuffed furnishings; lamps and lighting fittings, illuminated signs 8. Pharmaceutical products