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Export Guide

Exporting 101

March 16, 2022

Learn how to export your product or service

It is now easier than ever for businesses, no matter how small, to sell goods and services around the world. Exporting is one the best ways to help a business:

  • Increase sales and profits
  • Sell excess production capacity
  • Reduce dependence on existing markets

Exporting is a big step for many businesses, and there are six topics that must be understood to before pursing international sales. The better prepared a business is for exporting, the more successful it will be.

  1. Determine HS Codes
  2. Understand Export Regulations
  3. Select an International Market
  4. Respond to Inquiries
  5. Financing and Payments
  6. Ship Your Product
Export Guide

Responding to Inquiries

March 16, 2022

Sales inquiries from potential customers in foreign countries can be quite different than what companies are accustomed to receiving from domestic sources. Responding to a reputable sales inquiry requires careful consideration of many elements, including pricing, export regulations, and payment terms.

This guide provides an overview of:

  • Reviewing inquiries
  • Determining how to respond
  • Developing pricing and quotations
Export Guide

Selecting an International Market

March 16, 2022

With approximately 200 countries in the world, how can your company decide where to export? This simple guide can help your company determine which international market is best for your products and services.

  • Step 1: Screen – know your company and know your industry
  • Step 2: Compare – market assessment checklist
  • Step 3: Select – continue research and develop and export plan
Export Guide

Financing and Payments

March 16, 2022

Understanding trade finance and payments helps exporters turn opportunities into sales and get paid for those sales in full and on time.

There are four methods of payment in international trade:

  • Open account
  • Documentary collection
  • Letters of credit
  • Cash-in-advance

Each payment method contains varying levels of risk for the importer and exporter. An appropriate payment method must be chosen carefully to minimize the payment risk to the exporter while accommodating the needs of the importer.

Industry Report
Africa

Africa Trends Report

November 9, 2021

Africa holds immense promise and untapped opportunities as a trading destination for Virginian exporters. Virginia exports to Africa in 2021 are projected to be 20% larger than in 2020 and 8% larger than in 2019. Africa is already moving toward being a large market, with a generally receptive business community. A large entrepreneurially motivated youth population is set to create changes not only to Africa but to the entire world.

This report provides Virginian exporters with a general overview of African developments as its place in the world economy shifts. This study describes major trends in Africa that will impact future trade opportunities: demographics; the growing middle class; culture shift; political changes; economic diversification; technology; and the African Continental Free Trade Area. It also provides a post COVID-19 outlook of Africa, where these key trends will play a role in economic recovery and growth.

Accessing International Markets Webinar Series
Video
North America

Accessing International Markets - Canada

October 28, 2021

The United States and Canada enjoy a $1.6 trillion bilateral trade and investment relationship that supports millions of jobs in both economies. Canada ranks as the top U.S. export market, accounting for 17.9% of all U.S. exports in 2019. The United States, Mexico, and Canada are parties to the United States–Mexico–Canada Agreement (USMCA), which entered in to force on July 1, 2020, replacing the North American Free Trade Agreement (NAFTA).

Speaker: Ludovic Ortuno, Co-Founder & COO, CIDEP