World Trade Discuss International Trade Issues and Essay

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World Trade

Discuss international trade issues and how they impact starting a business in Denmark and how it pursues doing business with other countries

Denmark has been following bilateral trade policy based on free trade. This has helped it penetrate major markets while keeping the balance between import and exports. Denmark has been successful in the policy and has a lot of products exported to the U.S. And these include pharmaceutical products, nuclear reactors, boilers, machinery and mechanical appliances; electrical machinery and equipment, and Denmark also imports from the U.S. The World Bank economic indicators for Denmark for the year 2010 show that the current purchasing power per capita -- PPP is at $40,290. (Panjiva, 2012)

Denmark has expanded its trade relations recently with Canada. They both have identical business strategies. Both are based on the agri-food export sectors. The knowledge industries and the agricultural sector and modern concepts like renewable energy, and information and communication technologies are to be exchanged. Canada has exported over two hundred million dollar worth of fish and sea food, soya beans, medical products and pharmaceutical items. Canada imported one and a half billion dollar worth of wind turbines, oil and pharmaceutical and medical products. Denmark has invested C$511 million in 2011 into Canada. These were made by companies operating in Canada and concentrate on the construction industry, diary products and pharmaceuticals.

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Canada has invested $431 million in 2011 at Denmark focusing on software, transportation and electronics. (Canada International, 2012)

Denmark has also made a mark in Asia by entering the Asian markets. Denmark trade can be expanding with the country having come to an agreement with Indian auto manufacturers Maruti Suzuki and the company will export A-Star cars in Denmark that would help the Denmark import sector. The exports from Denmark mainly consist of animal and animal derivatives. The biggest export is pig. They are exported to Germany. By an average six hundred and twenty four thousand pigs were exported in 2009 alone. Denmark has to have shipping lines expanded and for this the country has imported ships from a Bangladesh shipping company-Ananda Shipyard and Slipways Limited and the first such ship is the Stella Moon. Denmark has ordered 34 vessels from the company. Since like all countries in the EU, Denmark is also facing financial problems the European Union has agreed to help Danish exporters with insurance cover. In spite of the problems in the economy, the country exported goods worth $119.5 billion and the imported goods and services for $120.7 billion by the beginning of 2011. In most trades Germany is the trade partner. (EconomyWatch, 2010) Denmark is expected to increase exports by 2013.

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