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[[1]] helps producers reach beyond the domestic market.

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Detailed Solution

Foreign trade helps producers reach beyond the domestic market.
Economic transactions between countries and trade between two countries are a part of foreign or international trade. The traded items can be consumer goods, capital goods, or services. A local company can reach beyond the domestic market through foreign trade and sell its products at better prices. The company can extend its customer base and can have better growth opportunities. Even if the economy of the domestic country falters, the company can still provide its goods and services in other economies. The company will also have access to new technology along with knowledge.

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