A CONCEPTUAL FRAMEWORK ON THE USE OF NEW GENERATION TECHNOLOGIES IN FOREIGN TRADE PROCESSES

Abstract

Foreign trade, in its simplest form, can be defined as the trade of goods and services between countries, and it primarily takes place in the form of imports and exports. Countries have established customs procedures to protect their national economies, national security, as well as human, environmental, and plant health. These procedures, which consist of tariff and non-tariff measures and customs practices, result in a paperwork-intensive process, causing delays in customs operations and imposing time and cost burdens on companies. Technology is being used as a lever to eliminate these costs and shape global trade. This article provides a conceptual framework for the use of next-generation technologies in foreign trade transactions.