Trade, import and export for MSMEs: To unleash MSME-led export growth, understanding and mitigating risks involved in exports are as critical as having policies and schemes by the government to promote exports. Other than political or legal risks associated with a particular market along with challenges related to shipping or cargo, intellectual property, and ethics; financial risks are relatively more important to understand as they are at the core of a growing export business.
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In fact, according to a World Trade Report 2022, climate change can also impact international trade by affecting trade costs, altering comparative advantages, and disrupting global value chains. CUTS International’s senior advisor Sushil Muhnot explains key areas first-time exporters must look at before beginning to export.