The volume of export activity in the world economy has increased as exporting has become easier, especially due to the gradual decline in trade barriers under the umbrella of GATT and now the WTO. Regional economic agreements such as the European Union and the North American Free Trade Agreement have also significantly increased export opportunities. Even though export activity in the world economy has increased, exporting remains a challenge for many firms. Smaller enterprises can find the process intimidating due to a host of issues ranging from mechanics of importing and exporting to dealing with countertrade. There are several promises and pitfalls to exporting. Read each statement to determine if it is true or false.