Is now a good time to start importing or exporting?

12/12/2016

importing/exporting boxes and a globe

importing/exporting boxes and a globe

It’s no secret that the international business environment is currently going through a pronounced period of change, politically, geographically, and economically.

Some of this year’s biggest headlines followed trade-related events such as the Brexit and the U.S. presidential election, successful and halted trade deals such as CETA and the TPP and some major currency fluctuations around the world.

All of this change begs the question for businesses of all sizes considering going global for the first time – is now a good time to pursue importing and exporting your products and services?

We decided to pose the same question to some of the most knowledgeable global business professionals in the Twittersphere in our latest #TradeElite chat, and here’s what they had to say.

Moderator: Adrian Mutton (@AdrianMutton) Founder and CEO of Sannam S4 and U.S. Business Centers, based out of Washington D.C. and London, England.

Panelists: 

Clarecia Christie, CITP|FIBP (@ClareciaChriste) Project Manager and Team Lead, Trade Information Services at Trade Facilitation Office of Canada, based out of Ottawa, Ontario.

Idalia Obregon (@Idalia_Obregon) Executive Director at Belgian Canadian Business Chamber, based in Toronto, Ontario.

Craig Atkinson, CITP|FIBP (@CraigAAtkinson) Director, International Trade and Development Consulting with Lexmerca, formerly with the ITC, based in Halifax, Nova Scotia.

William Bush (@BillKBush) International Business Consultant, and Professor of US Foreign Policy, International Relations, Emerging Markets, Latin America-Caribbean, based in New York, NY.

Petra Benes (@PetraBenes) Owner of export development company @TopLatinExport, and Partner at Alliance Exports, based in the Netherlands.

Erica A. Murray, PhD (@EricaAMurray) iHeart Syndicated Radio Host, Author, Keynote Speaker, Dr. of Philosophy and International Business Consultant, based in Houston, Texas.

Bernadette Fernades (@On_the_varanda) Founder of the Varanda Network and international development expert, based out of New Brunswick.

Are nations’ imports and exports likely to a) increase b) remain the same or c) decrease with current global politics/economics?

How much should SME’s be following currency rates, and do they make a big difference to their export prospects?

How aware are SME’s of FTAs (free trade agreements) and do these agreements really impact their import export potential?

Has exporting become a)harder b)easier c)much the same in the past 5-10 years? Why or why not?

Will Donald Trump’s policies affect companies’ abilities to import supply chain components to the U.S.?

Which countries are best placed to capitalize on global trade trends right now?

Will Brexit and other political decisions make importing more restrictive/costly in the future?

Is now a good time to start importing or exporting or both?!

Read the rest of the chat and follow future discussions by following the #TradeElite hashtag. Stay tuned for the next #TradeElite chat, coming up Thursday, January 12 at 2:30-3:30PM ET.

About the author

Pamela Hyatt

Author: Pamela Hyatt

I am a Content Marketing Specialist for the Forum for International Trade Training (FITT). You can find some of my work on TradeReady.ca. My background is in copywriting, journalism and social media. My passion lies in connecting people to the stories that are most important to them.

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