International relationships are vital for several reasons:
1. Market Expansion: By engaging in international relationships, businesses can access new markets, increasing their customer base and revenue potential. 2. Diversification: Operating in multiple countries allows businesses to diversify their risks. Economic downturns in one region can be offset by stable or growing markets in another. 3. Access to Resources: International relationships provide access to raw materials, technology, and talent that may not be available domestically. 4. Competitive Advantage: Collaborating with international partners can lead to innovations and efficiencies that provide a competitive edge.