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Building
Your International Business
Free Resources Bilateral trade groups like the British American Business Center of New England (BABCNE) or the New England Latin American Business Council and others are found in most U.S. major cities, and provide support, connections and networking opportunities. Independent global trade consultants assist companies with both strategic and short term projects to establish business in the U.S. or overseas. Free U.S. government services from the U.S. Commercial Service, International Trade Administration, and U.S. Dept. of Commerce are also worth examination. U.S. Commercial Service and other groups organize trade missions within vertical markets and countries seeking to establish or reinforce commercial ties. U.S. Sources of Trade Data can be found in a free resource from the U.S. International Trade Commission which contains US import and export data back to 1989 as well as information on current and future US tariffs. See http://dataweb.usitc.gov. Trade statistics databases provide a means to search for new export markets and to validate the potential of a market already selected for further research. A strong import market for a product is a good indication that similar and complementary products can be successfully sold in a country. To navigate through trade statistics databases requires products to be specified using the Harmonizing System (HS) codes. The HS classification system is the standard product coding system for international trade. The World Customs Organization (WCO) manages the Harmonizing System. According to the WCO, 177 countries and economies of the world use the system to classify more than 98% of all international trade. There are more than 5,000 commodity groups each identified with a six-digit number. There is not enough space in this article to explain variations, exclusions and other classification systems for commodities, as there are peculiarities in searching for HS codes. TradeStats Express (http://tse.export.gov) is another free database that uses much the same data as the USITC database but in a less detailed, more visual format. Data can be divided into National and State databases. Free has its limitations – reports can be generated by state, but use only a three-digit NAICS code, making the results practically meaningless. The three-digit codes are too broad and the typical user seeks very specific information in order for it to be relevant and meaningful. Fee-Based The ZANA Network is a comprehensive online business portal that connects small and medium enterprises in over 100 countries worldwide with sales opportunities, financing, insurance, partnerships, marketing and other resources. (http://www.zananetwork.com) Dialog TradStat (http://www.tradstat.com) is a fee-based way to quickly find information on a worldwide basis drawing on official government statistics from more than 40 reporting partners. Ultimately, Tradstat reports out on more than 90 per cent of world trade. Two other commercial sources of trade statistics are CenTradeX (http://www.centradex.com) and Global Trade Information Services (http://www.gtis.com). GTIS offers a set of CDs and subscription offers. Trade barriers are important indicators and should not be overlooked in doing your due diligence. There is no sense in looking at international markets if the duties imposed make it too expensive to sell at a profit, yet trade barriers and trade negotiations are in flux, so what you know today may not be the same information, tomorrow. UNCTAD (United Nations Conference on Trade and Development) tracks trade barriers around the world in its TRAINS database. ITC also has a good introduction to the subject (http://www.trademap.net/tc1/en/help_tcm.htm). While each of these sources has advantages, recognize that some countries, for various reasons, do not make their trade barrier and trade market information readily available in English. Japan is one of those countries.
Market entry plans, product sourcing, export/import compliance, agent/distributor recruitment and more can be researched and developed by professionals in the field. Normally, a systematic research methodology is employed, with a fixed budget and timetable to research and retrieve authoritative information for specific requirements. Issues researched include some of the following: International market entry Authoritative and up to date information is at the heart of successful business plans and programs. Research can be used to monitor and gather information that’s integral to making sound business decisions, to remain competitive and profitable in an increasingly more complicated and connected global economy. About the author: Richard Halpern is the principal of Halpern
Info Services, a professional custom research firm located
in Franklin, MA that helps companies learn how to navigate
global trade matters with market entry, market assessment,
competitive research and other projects. For more information
visit www.halperninfoservices.com or call |
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