WHAT IS FOREIGN TRADE?
Foreign trade is transactions between countries by importing and / or exporting product and implementing customs and legislation.
STEPS TO BE CARRIED OUT IN FOREIGN TRADE
It is important that each of the following steps is carried out carefully as failing to do so may have consequences affecting price and / or delivery of the products / goods:
• Carry out an analysis of the current situation of your business and identify your workforce and demonstrate your potential for foreign trade.
• Market research for your products and target countries in foreign trade.
• Act in accordance with national and international legislation and complete the necessary procedures.
• Follow the export and import business processes, complete transport, insurance and customs clearance and close your file by fulfilling your payment obligations.
• A complete market research should be carried out.
• The company that conducts the market research should know all the details regarding export / import potential based on the sector, country, and product information. Details should include addresses and marketing guides as well as political, and socio-economic conditions of the companies / importers who want to buy the product.
• Market research should be analyzed.
• Import and export flow should be determined.
• The appropriate import / export price should be determined.
• Determining the price of a product is the most important factor that will affect the financial projections in the export plan. Factors that increase the cost to be considered when exporting are: sales commissions, fees paid for transportation companies, expenses for necessary documents, financing costs, letter of credit, packaging costs for export, labeling and marking costs, transportation costs within the country, the cost of transportation at the destination of the product. necessary expenses, insurance costs, translation of documents related to the product, etc. There are charges for transactions, loan terms and storage.
• The company's capacity should be clearly demonstrated.
• It is important to emphasize that pricing is not the only factor that influences a buyer's decision to buy a product or service. Management capability, production capacity, quality control system, technical cooperation with foreign companies, order fulfillment system, export experience including company references and relations with banks are other considerations.
• Checking the credibility and reliability of a buyer.
• It is necessary for the exporter to check the credibility of the potential buyer, distributor, or partner before making a business agreement. To eliminate the conflict and reduce the potential risks, there are opportunities for alternative financing techniques.
Some special applications are specific to the products imported / exported in foreign trade. These practices vary between countries and is also dependent upon whether the trade is foreign or national. The differences between the import and export process according to national trade are as follows:
• Import export and customs legislation.
• Geographic distance in countries and their accompanying.
• Differences in business processes.
• Currency difference.
• Differences in risk factors.
• Socio-economic and cultural differences.
• Quality and standardization differences related to product and logistics operations.
• Differences in the documents to be prepared.
• Differences in correspondence technique.
• Differences in tradition and business practices.
At ATSCO GLOBAL TRADING, we follow all of these issues and eliminate the risk factors in securing trade for you.
• A complete market research should be carried out.
• The company that conducts the market research should know all the details regarding export / import potential based on the sector, country, and product information. Details should include addresses and marketing guides as well as political, and socio-economic conditions of the companies / importers who want to buy the product.
• Market research should be analyzed.
• Import and export flow should be determined.
• The appropriate import / export price should be determined.
• Determining the price of a product is the most important factor that will affect the financial projections in the export plan. Factors that increase the cost to be considered when exporting are: sales commissions, fees paid for transportation companies, expenses for necessary documents, financing costs, letter of credit, packaging costs for export, labeling and marking costs, transportation costs within the country, the cost of transportation at the destination of the product. necessary expenses, insurance costs, translation of documents related to the product, etc. There are charges for transactions, loan terms and storage.
• The company's capacity should be clearly demonstrated.
• It is important to emphasize that pricing is not the only factor that influences a buyer's decision to buy a product or service. Management capability, production capacity, quality control system, technical cooperation with foreign companies, order fulfillment system, export experience including company references and relations with banks are other considerations.
• Checking the credibility and reliability of a buyer.
• It is necessary for the exporter to check the credibility of the potential buyer, distributor, or partner before making a business agreement. To eliminate the conflict and reduce the potential risks, there are opportunities for alternative financing techniques.
IMPORT AND EXPORT PROCESSES
Some special applications are specific to the products imported / exported in foreign trade. These practices vary between countries and is also dependent upon whether the trade is foreign or national. The differences between the import and export process according to national trade are as follows:
• Import export and customs legislation.
• Geographic distance in countries and their accompanying.
• Differences in business processes.
• Currency difference.
• Differences in risk factors.
• Socio-economic and cultural differences.
• Quality and standardization differences related to product and logistics operations.
• Differences in the documents to be prepared.
• Differences in correspondence technique.
• Differences in tradition and business practices.
At ATSCO GLOBAL TRADING, we follow all of these issues and eliminate the risk factors in securing trade for you.