Export Restriction:

Export restrictions, or a restriction on exportation, are limitations on the quantity of goods exported to

a specific country or countries by a Government. Export restrictions could be aimed at achieving diverse
policy objectives such as environmental protection, economic welfare, social wellbeing, conversion of
natural resources, and controlling inflationary pressures. There are various forms of restrictions on
export as defined by WTO’s Trade Policy Reviews (TPR), for example, export duties, quantitative
restrictions, voluntary export restrictions, export prohibitions and licensing requirements. [1] Although
some countries apply export restriction of various policy purposes, restrictions on exports provide price
advantage for the domestic industries because these restrictions create price difference between
domestic goods compared to the price of the same goods to foreign investors. [2] Export restrictions don’t
always provide benefits for the country and more income for the government. In the field of agriculture
and food sector export restrictions are aimed at protecting the domestic food security from
international supply.[3] During the food crises of 2007-2008, more than thirty countries imposed various
export restriction measures such as quantitative export restrictions, prohibitions, export taxes, and price
controls to protect the domestic food supply. However, this created additional pressures on the food
crises by imposing high global prices and affecting the supply of food in the international market. [4]

Within Environmental protection sector, export restrictions could cause market failure. For example, if a
country puts export restriction on exporting minerals, natural resources, or wood stuff, it could cause
market distortion that could also affect the distribution of welfare. Due to this, other countries might
enter trade division and pause strict export restrictions on their domestic products which eventually
constrains the objective of export restrictions that are supposed to provide positive objectives for the
imposing country.[5]

Import restriction:

Any one of a series of tariff and no-tariff barriers imposed by a importing nation to control the volume of
goods coming into the country from other countries. May include the imposition of tariffs
or import quotas, restrictions on the amount of foreign currency available to cover imports, a
requirement for import deposits, the imposition of import surcharges, or the prohibition of various
categories of imports.

Terms of sale

Terms of sale define the obligations, risks, and costs of both the buyer and seller involving the delivery
of goods that make up the export transaction. The terms in international business transactions often
sound similar to those used in domestic business, but they frequently have very different meanings.

Packing and marking:

Marking should include markings of the consignee, port of shipment, port of destination,
measurements, the country of Origin, gross and net weight and any other instructions of the importer.
The International Trade Forum has indicated several rules for marking procedures, which are to be
followed by the exporters.