The shifting of the coal miners towards oil and gas industry is also considered as an important element of Globalisation.The currencies were convertible and the balance of payment restrictions was eliminated. The birth of the Euro Dollar market in the global economy was a move towards the availability of the international liquidity and the cross border trade relations that was set up in Western Europe (Chen, 2006). The organizations are expected to carry out the exchange of goods so as to promote international trade between nations. However they need to be careful with the fluctuations in exchange rates.The multinational enterprises within the economy promote international trade through the Foreign Direct Investment that they carry out in other countries. The enterprises plan to expand their business by making some investments in other countries that they find profitable. The multinational companies and the licensed joint ventures that take place between organizations bring in highly advanced technologies as well as the superior means for producing that leads to a higher productivity in the domestic economy (Phene and Almeida, 2008). The technological innovation brought by the multinational companies contributes to the rise in production levels and the increase in the imports and exports between the trading partners. The multinational companies undertake joint ventures in order to expand their business in the international markets and also to have control over the new technologies. The joint ventures are important for the companies as they can handle new projects.The multinational firms often form subsidiaries such that they trade with other parts of the world and undertakes franchising that is the firms can follow their own business model and tge brand that they produced over a period of time (Dahan, Doh and Guay, 2006). However the government has created a set of rules for the multinational corporations which are known as the Trade Related Investment Measures (TRIMs) which were created to reduce the ability of the government to impose export and import requirement on the multinational companies (Narula and Dunning, 2010). There are multinational companies that are seen to exploit the resources of the developing countries but can introduce efficient technologies in industrial sectors. Nonetheless the multinational enterprises are reactive to the domestic political issues in order to develop
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