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Foreign economic activity. Regulation of foreign trade at the national and intergovernmental level (most important)

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25. Regulation of foreign trade at the national and intergovernmental level

Successful foreign trade largely depends on the level of competitiveness of national products, knowledge of the circumstances and opportunities for its sale in the foreign market, as well as compliance with the conditions of work in the markets of foreign partners, which are regulated by various norms, rules and methods of influencing foreign trade developed by national and interstate systems.

The lack of awareness of Russian participants in foreign economic activity about the conditions for regulating foreign trade operations in the world market nullifies efforts to produce export goods, reduces the amount of expected foreign exchange earnings, causes unforeseen expenses, and leads to the disruption of mutually beneficial foreign trade transactions. To avoid this, constant attention to the conditions of foreign trade regulation is necessary not only in one's own country, but also in the countries of one's foreign partners. The regulation of foreign trade in modern international practice has acquired characteristic features due to the main trends in the development of world trade in the 90s.

To date, the unification of the forms and means of ensuring the regulation of foreign trade, settlement and payment transactions and document flow for foreign trade transactions of most states, the harmonization of uniform systems that take place in international trade has been carried out. The main international act regulating foreign trade relations is the International Rules for the Interpretation of Trade Terms "Incoterms". This act contains the basic conditions for the supply of goods. Export transactions are also regulated by the 1980 UN Convention "On Contracts for the International Sale of Goods".

National systems of foreign trade regulation are characterized by a high level of legislative support, which determines not only the rights and obligations of subjects of foreign economic activity, but, first of all, the limits of the executive power, which eliminates unpredictability and creates stability in the foreign trade policy of the state.

Features of the modern regulatory mechanism:

1) a high degree of equipment of the information and technical base of foreign trade activities, which contributes to the acceleration of the flow of information, its processing and the creation of data banks;

2) an integrated approach to the use of diverse complementary and interrelated methods and elements of influencing foreign trade, the separation of which is unjustified.

The complex nature of the modern foreign practice of regulating foreign trade is due to a specific set of means and tools of an intranational and interstate nature, tariff methods and non-tariff restrictions, systems to stimulate exports and curb imports.

Interstate regulation is provided through bilateral and multilateral agreements and treaties, instruments for regulating foreign exchange markets, a system of crediting export-import operations and insurance of foreign exchange risks. The main act of interstate regulation is the General Agreement on Tariffs and Trade. At the interstate level, the Convention on the International Carriage of Goods with the Issuance of an International Road Carrier Book (1975) is also applied.

The basis of national systems of regulation of foreign trade is:

▪ a set of acceptable methods of restricting exports and imports using non-tariff restrictions. It includes administrative regulations, financial measures, as well as technical norms and standards;

▪ customs and tariff regulation, including customs tariffs, customs duties and preferences;

▪ currency and credit funds, consisting of the exchange rate, devaluation, revaluation, currency parity, currency restrictions;

▪ ways to stimulate export production: insurance; lending; government subsidies; long-term investments; preferences and incentives for exporters; organizational government support.

Author: Bobkova O.V.

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