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For a company to develop the most effective plan for marketing a product internationally, it must understand the needs, desires and income of its potential customers by conducting thorough international trade research. It must also have full knowledge of distribution systems, delivery times, pricing and the most effective methods of promotion in the intended market.
Greg Gerritsen, CITP|FIBP is the Global Logistics and Trade Compliance Manager at Phoenix Technology Services, an international oil and gas services company based in Calgary, Alberta.
One of the newest stories on the business frontier in Asia is Vietnam, which is well positioned to become the region’s manufacturing and trade hub across a range of sectors. Here’s what you need to know.
By seizing on opportunities to bring together the advantages each country has to offer in a symbiotic trade relationship, the two countries are flourishing economically where they might not have independently.
The security requirements at the Canada – United States border have been significantly enhanced since 9/11. The CBSA has now made submitting an eManifest mandatory in order to further sustain cross-border security requirements.
While we have placed international trade in a position of national importance, making every effort to expand and grow our trading relationships globally, our domestic trade remains limited, blocked by interprovincial barriers that cost our industries billions of dollars through their inefficiencies.
From the tale of the tortoise and the hare, to the African proverb which counsels eating the elephant one bite at a time, we’re conditioned to tackle challenges with consistent and deliberate effort. That conditioning and mindset, though, has both positive and negative implications to companies’ global growth plans. For some SMB’s considering inorganic growth strategies is the only way forward.
“In every class there are always a couple of students who bring energy, imagination and an entrepreneurial spirit to the group. When an amazing opportunity such as an internship appears, they are quick to recognize the challenge and rise to it.” Ennio Vita-Finzi, Professor of the International Commerce Import/Export program at LaSalle College in Montreal, is talking about this year’s FITT-ALDO intern, Caroline Zhang.
For all the talk about Canada being a trading nation, we aren’t when it comes to small and medium sized enterprises. While SME’s account for roughly 95 percent of all companies in Canada, and create 65 percent of all jobs, Canadian SME export rates are at less than 2 percent.
Despite its critical importance, most people probably have no clear picture of the real scope of international trade. Here are some incredible international trade statistics to help give perspective to this crucial industry.
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