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Export and International Trade Business

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How to Get Export Advice and Export Tips

For companies making initial plans to export or to export in new areas, considerable export advice, export tips and assistance are available at little or no cost. It is easy, through lack of experience, to overestimate the problems involved in exporting or to get embroiled in difficulties that can be avoided. For these and other good reasons, it is important to get expert counseling and assistance from the beginning.

This chapter gives a brief overview of sources of assistance available. Other chapters in this guide give more information on the specialized services of these organizations and how to use them.

In general, however, the best place to start is the government institutions that deal with export and Commerce, they can not only provide export counseling in its own right but also direct companies toward other government and private sector export services.

Commercial banks

Good source of export advice and export tips are banks. Many banks have international banking departments with specialists familiar with specific foreign countries and various types of commodities and transactions. These large banks, located in major cities, maintain correspondent relationships with smaller banks throughout the country. Larger banks also maintain correspondent relationships with banks in most foreign countries or operate their own overseas branches, providing a direct channel to foreign customers. International banking specialists are generally well informed about export matters, even in areas that fall outside the usual limits of international banking. If they are unable to provide direct guidance or assistance, they may be able to refer inquirers to other specialists who can. Banks frequently provide consultation and guidance free of charge to their clients, since they derive income primarily from loans to the exporter and from fees for special services. Many banks also have publications available to help exporters. These materials often cover particular countries and their business practices and can be a valuable tool for initial familiarization with foreign industry. Finally, large banks frequently conduct seminars and workshops on letters of credit, documentary collections, and other banking subjects of concern to exporters.

Among the many services a commercial bank may perform for its clients are the following:

  • Exchange of currencies.

  • Assistance in financing exports.

  • Collection of foreign invoices, drafts, letters of credit, and other foreign receivables.

  • Transfer of funds to other countries.

  • Letters of introduction and letters of credit for travelers.

  • Credit information on potential representatives or buyers overseas.

  • Credit assistance to the exporter's foreign buyers.

Export intermediaries

Export intermediaries are of many different types, ranging from giant international companies, many foreign owned, to highly specialized, small operations. They provide a multitude of services, such as performing market research, appointing overseas distributors or commission representatives, exhibiting a client's products at international trade shows, advertising, shipping, and arranging documentation. In short, the intermediary can often take full responsibility for the export end of the business, relieving the manufacturer of all the details except filling orders.

Intermediaries may work simultaneously for a number of exporters on the basis of commissions, salary, or retainer plus commission. Some take title to the goods they handle, buying and selling in their own right. Products of a trading company's clients are often related, although the items usually are noncompetitive. One advantage of using an intermediary is that it can immediately make available marketing resources that a smaller firm would need years to develop on its own. Many export intermediaries also finance sales and extend credit, facilitating prompt payment to the exporter.

World trade centers and international trade clubs

Local or regional world trade centers and international trade clubs are composed of area business people who represent firms engaged in international trade and shipping, banks, forwarders, customs brokers, government agencies, and other service organizations involved in world trade. These organizations conduct educational programs on international business and organize promotional events to stimulate interest in world trade. Some 80 world trade centers or affiliated associations are located in major trading cities throughout the world.

By participating in a local association, a company can receive valuable and timely advice on world markets and opportunities from business people who are already knowledgeable on virtually any facet of international business. Another important advantage of membership in a local world trade club is the availability of benefits - such as services, discounts, and contacts - in affiliated clubs from foreign countries.

Chambers of commerce and trade associations

Many local chambers of commerce and major trade associations provide sophisticated and extensive services for members interested in exporting. Among these services are the following:

  • Conducting export seminars, workshops, and round-tables.

  • Providing certificates of origin.

  • Developing trade promotion programs, including overseas missions, mailings, and event planning.

  • Organizing pavilions in foreign trade shows.

  • Providing contacts with foreign companies and distributors.

  • Relaying export sales leads and other opportunities to members.

  • Organizing transportation routings and shipment consolidations.

  • Hosting visiting trade missions from other countries.

  • Conducting international activities at domestic trade shows.

In addition, some industry associations can supply detailed information on market demand for products in selected countries or refer members to export management companies. Most trade associations play an active role in lobbying for trade policies beneficial to their industries. Industry trade associations typically collect and maintain files on international trade news and trends affecting manufacturers. Often they publish articles and newsletters that include government research.

Chambers of commerce abroad

A valuable and reliable source of market information in any foreign country is the local chapter of our chamber of commerce. These organizations are knowledgeable about local trade opportunities, actual and potential competition, periods of maximum trade activity, and similar considerations.

Our chambers of commerce abroad usually handle inquiries from any domestic business. Detailed service, however, is ordinarily provided free of charge only for members of affiliated organizations. Some chambers have a set schedule of charges for services rendered to nonmembers.

International trade consultants and other advisers

International trade consultants can advise and assist a manufacturer on all aspects of foreign marketing. Trade consultants do not normally deal specifically with one product, although they may advise on product adaptation to a foreign market. They research domestic and foreign regulations and also assess commercial and political risk. They conduct foreign market research and establish contacts with foreign government agencies and other necessary resources, such as advertising companies, product service facilities, and local attorneys.

These consultants can locate and qualify foreign joint venture partners as well as conduct feasibility studies for the sale of manufacturing rights, the location and construction of manufacturing facilities, and the establishment of foreign branches. After sales agreements are completed, trade consultants can also ensure that follow-through is smooth and that any problems that arise are dealt with effectively. Trade consultants usually specialize by subject matter and by global area or country. For example, firms may specialize in high-technology exports to the Far East. Their consultants can advise on which agents or distributors are likely to be successful, what kinds of promotion are needed, who the competitors are, and how to deal with them. They are also knowledgeable about foreign government regulations, contract laws, and taxation. Some firms may be more specialized than others; for example, some may be thoroughly knowledgeable on legal aspects and taxation and less knowledgeable on marketing strategies.

Many large accounting firms, law firms, and specialized marketing firms provide international trade consulting services. When selecting a consulting firm, the exporter should pay particular attention to the experience and knowledge of the consultant who is in charge of its project. To find an appropriate firm, advice should be sought from other exporters and some of the other resources listed in this chapter, such as the Department of Commerce district office or local chamber of commerce.

Consultants are of greatest value to a firm that knows exactly what it wants. For this reason, and because private consultants are expensive, it pays to take full advantage of publicly funded sources of advice before hiring a consultant.

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