The Full Form of ‘ITC’ in Industry is ‘International Trade Center’.
Full Form of ITC
ITC stands for International Trade Center, which is an industry that specializes in international trade. The ITC was created to facilitate the global exchange of goods and services between countries. It is a joint venture between the United Nations Conference on Trade and Development (UNCTAD) and the World Trade Organization (WTO). The ITC has three main objectives; to promote global integration, expand cross-border trade, and create jobs through international trade.
The ITC was founded in 1964 as part of UNCTAD’s efforts to establish a global framework for international commerce. Since then, it has grown into one of the most important organizations involved in international trade. As of 2018, the ITC had more than 600 staff members from over 100 countries working in offices around the world. It is funded by contributions from member governments, private sector institutions and civil society organizations.
The ITC provides a range of services designed to help businesses succeed in global markets. These include market intelligence, technical assistance, capacity building, policy advice and advocacy support for governments interested in developing their trading capabilities. It also offers training courses for business leaders who are looking to expand their understanding of international trade rules and regulations.
The ITC works closely with national governments to develop strong legal frameworks which protect companies while they do business internationally. This includes providing advice on how best to structure contracts or setting up payment systems which reduce risks associated with foreign currency transactions. The ITC also works with developing countries to help them access new markets or increase their share of exports by providing technical support and capacity building programs.
In addition to its work helping businesses succeed in global markets, the ITC also plays a key role in helping developing countries access new technologies which can help them become more competitive in world markets. This includes providing information about technology transfer opportunities or helping them develop effective intellectual property systems which protect their innovations from being stolen by foreign companies.
Finally, the ITC serves as an important forum where governments come together to discuss issues related to international trade policy such as tariffs or investment protection agreements. Through this forum, governments are able to address disputes between themselves or seek clarification on aspects of existing agreements without having to resort to formal legal proceedings or negotiations with other countries directly involved in these disputes.
In conclusion, the full form of ‘ITC’ stands for International Trade Center – an organization dedicated to facilitating global exchange of goods and services between countries while protecting businesses against risks associated with foreign currency transactions or intellectual property theft. The ITC plays an important role in creating jobs through international trade by offering training programs and technical assistance as well as acting as a forum for discussion regarding policy related issues affecting different nations involved in global commerce today.
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