Foreign Trade tips
Import and export seems easy, but there are many aspects to be analyzed and to be taken in consideration before your company decides to embrace new journeys.
1- Identify which markets to export or import, including market research, supply and demand, and what benefits clients and companies can benefit with this activity.
2- Establish and maintain relationship with people and specialized companies. Trade shows, events, and expos are great options to know more people and make business deals.
3- International Trade requires knowledge and of currency exchange rates, international transportation, customs clearance, Incoterms, Letter of Credit and interaction with government agencies.
4- Ensure the buying price (import) or selling price (export) are correct, thus helping the viability and profitability of the deal.
5- Understand regulation laws and barriers in the country where you are doing business with, as well as HTS, weight and volume of the cargo.
6- Create a check-list to ensure all details of the process were covered to avoid penalties or delivery delays.
7- Knowledge in foreign trade laws and rules in each country and requirements of government agencies.