International trade is a risk/reward business. There can be greater payment, logistical, regulatory and political risks when dealing with overseas suppliers and customers. Nevertheless, your business will reap rewards if you can develop a competitive global supply chain, penetrate profitable export markets with quality products and services, while successfully managing the increased risks.
Raw data alone are not sufficient to develop a company’s market knowledge. The data must be analyzed to give them meaning and then put in context to generate insights about the international business environment. This process of taking raw data and analyzing them strategically is called market intelligence.
Jalal Benbrahim is an international business development consultant who helps telecom leaders expand to emerging and developing markets.
“The trade and investment strengths of South Florida as a gateway to Latin America and the Caribbean are significant, with major opportunities including expanding Latin American trade and a thriving IT industry,” says Matthew Waldron, trade commissioner of the Consulate General of Canada in Miami.
Trading internationally involves risks beyond the normal risks of doing business in domestic markets. Late or non-delivery of goods, foreign exchange and country risk offer…
Two weeks ago I made my first ever trip to Chile. The trip enabled me to meet and engage with a number of wonderful individuals who are working hard to help us expand our FITTskills international trade training program in Latin America.
The Trade Facilitation Office of Canada (TFO) is well aware of the benefits export-growth can create. After all, its mandate is to help companies in developing countries access the Canadian marketplace as well as Canada’s global trade expertise.
In less than five years, over 100 Canadian Trade Commissioners have worked their way through the FITTskills online training program. Another 65 are currently training. FITTskills focuses on best practices in international business, and helps develop practical knowledge and skills that global trade professionals can apply to their jobs immediately.
You’ve just received your first big foreign purchase order (PO), or perhaps you’ve been exporting for a while and are looking to grow your international business. What’s your next step? Have you tried contacting Export Development Canada (EDC)?
With a projected 18.2 percent annual change in Real GDP growth, Guinea is indicative of the rising strength of African economies and consequently the high…