Theory question 106
Foreign TradeCommerce 2 (theory)
(a) State five functions of an Export Promotion Council.
(b) Outline five roles performed by the Customs and Excise Authority towards the growth of commerce.
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(a) Any five: encourages export of non-oil/local products; gives exporters information on foreign markets; organises trade fairs and exhibitions abroad; provides export incentives/grants and credit facilities; advises exporters on quality, packaging and documentation; trains exporters; helps set up export processing zones; advises government on export policy.
(b) Any five: collects import and export duties and excise duties (revenue); prevents smuggling; stops importation of prohibited/harmful goods; protects local industries by enforcing tariffs and bans; compiles trade statistics; runs bonded warehouses; clears goods at ports and borders; enforces trade agreements/quotas.
Customs roles centre on collecting duties and controlling what enters and leaves the country.