Advantages of International TradeInternational trade offers businesses the opportunity to expand their businesses into foreign markets by providing them with higher sales volumes which in turn means higher profits for businesses . Another benefit of international trade is the improvement of the organization's ability to compete in domestic and foreign markets due to increased awareness of current trends in product quality, packaging, product design and development. Businesses can also take advantage of the inability to produce some products locally to engage in import operations. This can be achieved if it is cheaper to import the product into the country instead of producing it locally. Additionally, businesses may attempt to export products and services that have not been well received within their own borders. Products and services that were not popular in the domestic market may appear popular in foreign markets due to cultural, demographic, and political differences. Engagement in international trade reduces organizations' dependence on the domestic market. While the risks cannot be overcome completely, they can be distributed. For example, if a company trades in US dollars, it may want to trade Germany in euros to reduce the exchange rate risk between the US dollar and the euro. The key element to succeed in international trade is to be put in touch with the right people, which can be achieved with the help of specialists from the UZ Banking Group, one of the largest trade services organizations in the world. Specialists of the UZ Banking Group understand the problems and issues that may arise when developing business abroad.Identification of suitable marketsPeople around the world have different needs, and the success of international trade should be based on this... half of card... ...payment as documentary credit or advance payment. Avoid providing the buyer with an excessive credit period or excessive credit limit so as not to have working capital problems. Make sure the sales contract or documentary credit does not contain ambiguous terms that could be subject to future disputes. Always consider cultural differences and language barriers when dealing with the buyer. Use the same currency when buying and selling to minimize exchange rate risk. You can also use derivatives to hedge risk and enter into forward contracts and options contracts to reduce currency risk. Insure yourself against losses arising from transit risk through the use of insurance. Establish a representative office in the buyer's country to handle non-payment or non-acceptance of goods. Last but not least, have a contingency plan against adverse events.