In most ports around the world, the port authorities play a vital role in the overall trade & transportation of the country. Port is actually the main source of trade and transportation for any country because it is the channel through which goods can directly be either exported and/or imported by any country and interacts with and plays its role in the global economy.
While reductions in artificial barriers to international trade between countries have contributed to dynamic export expansion in many countries, recent modifications to the global trade & transportation regime has been only leveling the playing field. However developing and underdeveloped countries are at a potential advantage due to their lower cost offerings in terms of labor, raw materials as well as environment; they too face the challenge of transporting the goods manufactured in the country.
One key issue in this regard is the shipment of the goods from the factory warehouse to the destination market in a timely and secure order without any complication that might impact the transportation of goods between the countries. Unfortunately, many developing countries have weak and inefficient transport and logistics that lead to longer transit times, problems with predictability and reliability and higher trade transaction costs that in turn undermine competitiveness.
This is where the port authorities come into action to facilitate the trade and transportation of goods to be exported/imported for efficient and effective trade between countries. Port authorities are majorly concerned with building and ensuring sufficient maritime channels, berths & quays and rail & road infrastructure availability. With several processes involved inefficiencies can occur and that’s why port authorities are a trusted and integral entity which coordinates all the involved activities to smoothly run the trade & transportation of the country.
The Essay on Countries trade products
In the world market, countries trade products they wouldn’t be able to produce on their own. Countries like Cuba specializes in cigar production, Japan in electronics, and Russia in rocket technology. However, even if a country has an absolute advantage in producing all goods, they still will benefit from trade. Many economic factors are involved with trade. Among the major factors are ...
