QUESTION 1

(i) Explain a Free Trade Area with examples.

(ii) Outline the activities of a Free Port.

QUESTION 2
(a)

(i) Define Incoterms

(ii) How many Incoterms have been listed by the International Chamber of Commerce?

(b)

What are the main considerations linked to the following Incoterms:-

(i) EX Works

(ii) FOB

(iii) CIF

(iv) DDU

(v) CFR

QUESTION 3

(a) Define globalization

(b) Describe the causes and consequences of globalization

QUESTION 4

Locating overseas suppliers is a demanding as well as hazardous task. Explain why is this so reviewing what steps can be taken to mitigate the risk factors