ABSTRACT

There are more than 200 countries in the world. The majority of these have their own language (many have several different languages), culture, laws and regulations, economic and political structures – all of which play a part in obstructing cross-border trade and other foreign economic activities. More specifically these factors include customs duties and tax for imported goods and services; cultural differences within trade and commerce, or how we use and consume our purchases; more dramatic conditions such as a boycott due to political conflicts; economic policies leading to uncertainty and currency fluctuations thereby disrupting price competitiveness; or it could be national business structures making it difficult for foreigners entering the market.