Import Licensing Agreement

An Import Licensing Agreement is a formal arrangement between a country and a company or organization that allows the latter to import certain goods. It sets rules and permissions for bringing specific products into the country, often to regulate trade, protect domestic industries, or ensure safety standards. The agreement outlines details like the number of licenses issued, conditions to qualify, and the process for obtaining approval. Essentially, it manages and controls how and when imported goods enter a country, balancing trade interests with national regulations.