What is the term for the relocation of a business process or operation by a company from one country to another?

The term for the relocation of a business process or operation by a company from one country to another is offshoring. Offshoring specifically refers to the practice of moving certain business functions or processes to another country, often to take advantage of lower labor costs, tax benefits, or more favorable economic conditions. This strategy is commonly employed by companies aiming to reduce costs and increase operational efficiency.

In contrast, outsourcing typically involves contracting out certain business functions to third-party providers, which may or may not be located in another country. Restructuring refers to a company's internal reorganization of its structure and operations to improve efficiency and profitability, but it doesn't imply any geographic movement of processes. Lastly, relocation is a broader term that can refer to moving an entire operation or business to a different location, yet it does not specifically denote that this movement is to another country, as offshoring does. Thus, offshoring is the most precise term to describe the scenario presented in the question.