International Trade Test - 2

An 'entrepot' is a port, city, or warehouse where goods are imported to be stored or traded again. Singapore is the Entrepot of Asia where goods are brought from different countries for export.

Multi-lateral trade is conducted with many trading countries, allowing a country to trade with a number of other countries and potentially grant the status of the "Most Favoured Nation" on some trading partners.

The volume of Trade: The actual tonnage of goods to be traded makes up the entire volume.

Bilateral trade is conducted by two countries with each other, where they agree to trade specified commodities amongst themselves.

The Act of Parliament to abolish the British slave trade, passed on 25 March 1807, was the culmination of one of the first and most successful public campaigns in history.

Ports provide facilities for docking, loading, unloading, and storage of cargo.

The headquarters of the WTO are located in Geneva, Switzerland.

Inland ports are located away from the sea coast and are linked to the sea through a river or a canal.

Naval ports are ports that have strategic importance, serve warships, and have repair workshops for them.

The European Union (EU) includes member nations such as Austria, Belgium, France, Germany, Italy, and Spain.