Due to globalization and technological advancement, many companies choose to expand into international markets to gain access to larger markets and reduce costs, resulting in fewer and fewer purely domestic companies.
Own a manufacturing plant in another country
Export to another country
Own a retail or distributes outlet in another country
Import from another country
Invest in business in another country
China: Canada exports minerals, timber and other products to China, and imports electronics and consumer goods, and bilateral trade is growing rapidly. United States: Canada and the United States have established close trade relations in energy, vehicles and technical services through multiple trade agreements. Japan: Canada exports energy and agricultural products, while Japan exports automobiles and electronic products to Canada, and the two sides have long-term cooperation.
Export: Selling domestic goods to foreign countries. Example: Canada exports maple syrup. Import: Buying goods from foreign countries. Example: Canada imports electronics. Licensing: Authorizing a foreign country to use its own brand. Example: Authorizing a European company to use a toy brand. Franchising: Authorizing a foreign country to copy a business model. Example: Opening a fast food chain in Asia