International Trade Orientation Short Version
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Introduction to International Trade (exporting and importing)
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International Trade Orientation Short Version
- 1. El Camino College Business Training Center INTERNATIONAL TRADE ORIENTATION OVERVIEW OF EXPORTING AND IMPORTING Bronwen Madden, Deputy Director Center for International Trade Development El Camino College Business Training Center
- 3. CALIFORNIA EXPORT PROFILE EXPORTS GROWTH JOBS Total Exports by States California’s Top Export Markets California’s Top Exports Total Value: $120,142,219,999 Total % Texas Mexico Computers & Electronic Prod. 35,182,767,377 29.3 % California Canada Transportation Equipment 12,826,967,941 10.7 % New York Japan Machinery Manufactures 10,709,240,936 8.9 % Washington China Chemical Manufactures 10,233,994,524 8.5 % Florida South Korea Misc. Manufactures 9,130,040,605 7.6 % Illinois Hong Kong Crop Production 7,848,804,565 6.5 %
- 8. STAGES OF EXPORT DEVELOPMENT FOR NEW-TO-EXPORT SMES CLIENT NEEDS FOR ASSISTANCE AT EACH STAGE © Maurice Kogon, Director, El Camino College Center for International Trade Development
- 23. INTERNATIONAL COMMERCIAL TERMS (INCOTERMS)
Notes de l'éditeur
- Myths about Exporting I'm too small to export ; only large firms with name recognition, ample resources, and export departments can export successfully. False! Most of the world’s exporters are SMEs. I can't afford to export; I don't have the money to hire people, market abroad, or expand production if I get new export business. Not true! There are low-cost ways to market and promote abroad, handle new export orders, and finance receivables. These don't require hiring new staff or setting up an export department. I can' t compete overseas; my products are unknown and my prices too high for foreign markets. Not necessarily. The world is large, with varied needs and interests. If your product is selling well in the domestic market, it might well be wanted somewhere else in the world. What makes your product sell in the home market can help it sell abroad. Exporting is too risky; I might not get paid. I might get cheated. I might break a law I didn't know about. Not likely! Selling anywhere has risks, but they can be reduced with reasonable precautions. Exporting is too complicated; I don't know how. Wrong! You don't need to be an expert to export. You can use outside experts to deal with the complications, hire your own expert, Or, become more knowledgeable yourself with training like ours.
- EXPORT WORKING CAPITAL The Small Business Administration (SBA) Export Working Capital Program (EWCP) and the Working Capital Guarantee (WCG) of the Export-Import Bank of the United States (Ex-Im Bank) assist U.S. Exporters to obtain loans to produce goods or services for export by guaranteeing repayment to the lending institution. The loans can be either transaction specific or revolving and there is no minimum or maximum transaction amount. The U.S exporting company should normally have one-year operating history and the current financials of the company should reflect a positive net worth. EXPORT CREDIT INSURANCE Ex-Im Bank’s Export Credit Insurance enables U.S. exporters to confidently extend credit terms to their international buyers. Export Credit Insurance covers export receivables against commercial risk, if the foreign buyer should default, and political risk coverage, in the case of war, inconvertibility of currency etc. The policy can be a single-buyer policy or it can be a multi-buyer policy. The Ex-Im Bank offers both short and medium-term insurance policies. With short-term policies, the typical terms are 180 days or less, exceptionally 360 days. Medium term insurance covers capital equipment, projects and related services with repayment terms up to 5 years (exceptionally 7 years) with financing up to $10 million. The importer would make cash payment of at least 15 percent. LOAN GUARANTEE The Ex-Im Bank's Loan Guarantee is a very useful program for exporters. Under this program, the Ex-Im Bank provides loan guarantees that allow lenders to offer financing to exporters' foreign customers with fixed or floating competitive rates. This program reduces payment risks to exporters as they are paid upfront for their exports. Foreign buyers are enabled to overcome financing problems and can buy US. goods and services. Banks with delegated authority from the Ex-Im Bank participate in the loan guarantee program and would do due diligence on foreign buyers to ensure that there is reasonable assurance for repayment before granting the loan. UNITED STATES DEPARTMENT OF AGRICULTURE (USDA) FOREIGN AGRICULTUREAL SERVICES (FAS) PROGRAMS United States Department of Agriculture (USDA) – Foreign Agricultural Services (FAS) export finance programs. If the product of the U.S. exporter is agricultural, i.e. the “3Fs” food, feed and fiber, programs offered by the FAS of the USDA could assist exporters to expand their international trade. There are basically three programs: the Supplier Credit Guarantee Program (SCGP), the GSM-102 and GSM-103 programs. The SCGP provides 65 percent guarantee on the principal receivable for credit terms of up to 180 days. Importers must issue Promissory Notes to cover payment. The GSM-102 and GSM-103 are bank driven programs where Dollar denominated Letters of Credit must be issued by the importer from USDA approved foreign banks. GSM-102 program covers credit terms up to three years and GSM-103 programs covers credit term up from 3 to 10 years.