International Trade – a deeper insight

This skills program explores the basic ‘must-knows’ of international trade, how to navigate your way around the world and dives deeper into Incoterms® 2020 which is an important commercial aspect in trade.

Cities are the world’s major commercial centers. The geography of international trade remains dominated by a few large economic blocs, mainly in North America, Europe and East Asia, which are commonly referred to as the triad. This dominance is being seriously challenged by emerging economies. It is therefore important to know the major global air and ocean ports, routes, time zones, currencies and geographical factors impacting on trade.

Incoterms® are pre-defined commercial terms that are used to define the transport component and the share of costs and risks for international commercial transactions. These rules eliminate inconsistencies in language by giving all parties the same definition of specific terms within a trade agreement. In this course, the 11 Incoterms® 2020 rules are graphically depicted, annotated with descriptions of applicable mode, rule definition, risk transfer and seller vs buyer responsibilities. Each rule also has important learning points highlighted as ‘things to watch for‘ when applying the terms in trade transactions.

Target Group
Employees working in Freight Forwarding Operations

Learning Outcomes

• International trade aspects: multi-modal transport, basics of trade agreements, borders and trade tariffs
• Background to Incoterms® explaining the history of the versions, what it is, who owns it and guiding principles
• The important version changes between Incoterms® 2010 and 2020
• The 11 Incoterms® 2020 rules explained complemented with self quizzes and a tabbed reference guide
• Maps and distances; standard time zones
• Continents, oceans, sees, straits and waterways
• Major ocean and airports in Africa, Asia, the Americas, Europe and Oceania
• Trade routes and trade agreements relating to South Africa