The WTO is more than another global backslapping club; its members essentially agree to wrangle out their economic differences in a public forum under agreed-upon — and equally applied — rules. That can mean plenty of new foreign business opportunities to companies that pay attention.
Here are some resources for getting a grip on where your business fits into the new global business scheme.
Action Steps
The best contacts and resources to help you get it done
Start at the top of the heap
The U.S Trade Representative is the chief negotiator for all foreign trade agreements between the United States and the rest of the world.I recommend: See the list of current deals, including specific bilateral deals that do not fall under general WTO or regional agreements, as well as its list of current complete reports by year. Export.gov has a somewhat less bureaucratic approach, as well a subsection of deals under negotiation, as does the U.S. Foreign Agricultural Service and BuyUSA.gov.
Leads! Leads! Leads!
Part of the problem in getting international business deals is knowing who wants to do business in the first place. The Internet has gone a long way toward solving that problem.I recommend: The U.S. Commerce Department has a pay database of live trade leads calls Globus and this database at Export.gov. The Federation of International Trade Associations runs a leads database. Some other active leads databases include TradeZone, Alibaba, and TradeXPro.
Getting to market is a big part of the battle
So you have a potential partner in Lima who's just dying for a shipment of your product -- now. But how to get it there, past all those customers barriers and delays?I recommend: Trade consultants are not hard to come by, but if you aren't ready to move containerloads just yet, perhaps a courier can help. UPS, FedEx, DHL and a host of other global shippers have special programs for small exporters looking to get started.
Take advantage of government help
"I'm from the government and I'm here to help you" is an awful punchline, but in the case of building foreign trade, it's actually true.I recommend: The U.S. Department of Commerce maintains a helpful and updated site on trade, through the International Trade Administration. Part of the value is access to trade missions, essentially junkets designed to connect your business to foreign opportunities. Also, you could seek advice from a state trade agency. Find yours here.
Sell to foreign governments
One of the most overlooked, and lucrative, side effects of foreign trade deals has been the opening of government supply contracts to free (yet fair) foreign competition.I recommend: The U.S. government's Trade Compliance Center tracks disputes, as well as maintaining a list of foreign government procurement Web sites. Most work pretty much like Ebay. Qualify, bid, sell.
Tips & Tactics
Helpful advice for making the most of this Guide
- Patience is not a virtue, it's a business requirement. Usually, exporting to new trade partners means breaking down decades-old barriers on both sides. Distribution might be tricky, as will market acceptance on foreign shores.
- Read up in the business press. International news media is usually quick to point out successful new exports as a trend story (like asparagus in Peru or salmon in Chile). If you sell pesticides or salmon feeds, there's your shot.
- Make no assumptions about a deal that seems to be signed, sealed and delivered. Most have phase-in periods of up to a decade and leave a small percentage of "sensitive" goods outside the terms.
- There's a lot of popular opposition both here and abroad against free trade. Your company and its brand could be caught in the middle. Make sure you can take any political or media heat, if need be.
International Trade
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