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| e-Commerce
Opportunity in Foreign Trade
What
is e-commerce ?
e-commerce is
an all pervasive term which may be defined
in following way:
Electronic Commerce is the buying and selling
of goods and services or the transfer of money
over the Internet or an Intranet. This can
involve shops, stores, business, banks...
anything where monetary transaction takes
place.
Why
e-commerce
It is now
established that use of e-commerce will revolutionize
trade and commerce throughout the world. Some
of the advantages are:
- Unprecedented market reach in home and abroad
- Significant saving in transaction cost
- Simpler and transparent procedure
- Possible elimination of intermediaries between
original producer and end-user
Already, value of e-commerce transactions
worldwide are in billions of dollars. This
is going to turn to trillions within next
few years.
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