Considering international trade involves regulations imposed by so many different countries, it is far more challenging than any domestic or national business operation. Some of the complexities encountered in international trade include issues of legality, documentation, licensing, finance, property rights, governmental regulations and communication. As the emphasis on awareness of terrorism keeps increasing, it is equally important to keep up-to-date with ever-changing new laws as and when they are enacted.

A formal declaration is required for any trade that exceeds the stipulated limit, which is different in different countries. Wrongful declarations of true value and weight of the goods so as to attract a lower duty value is considered illegal and the trader’s international trading privileges could be revoked or suspended.

Contravention of import and export laws, whether knowingly or unknowingly is a serious offense and is likely to attract a penalty, which could include imprisonment in most countries. Serious transgressions include trading in drugs, endangered wild life species, toxic substances and hazardous materials.

Import and export of wildlife species are subject to stringent foreign wildlife laws and regulations all over the world. Almost all countries ban the trade of threatened and endangered species, marine mammals, migratory birds and any injurious or harmful species. All wildlife traders require a special permit, which should be valid.