Resources

When traveling to a foreign country, you may be required to obtain a business visa or travel visa. Visa requirements vary depending on the purpose of your trip, such as tourism, business, or employment, and the country you will be visiting.

The value of the currencies can change quickly, sometimes between the time a deal is concluded and when payment is received. Exporters who choose to trade in foreign currencies can minimize foreign exchange exposure by using risk management techniques, such as spot exchange rates, forward hedges, options, etc.

Standards provide consistency for characteristics, guidelines, and specifications for products, services, and processes. International standards organizations, such as the International Organization for Standardization (ISO), the International Electrotechnical Commission (IEC), and the International Telecommunication Union (ITU) are examples of standards development bodies that develop guidelines and specifications for products, services, and processes.

A trade barrier is a government-imposed restriction on the international exchange of goods or services. Barriers to trade are often called “protection” because their stated purpose is to shield or advance particular industries or segments of an economy.

Even if your company already has a domestic marketing plan in place, it is essential to develop an international marketing plan to help reach target markets abroad and ensure that your products or services are relatable to your audience.

When traveling for business overseas, there are visa and health requirements to consider, national holidays to avoid, trade events to schedule, and troubled areas to avoid. When planning a business trip abroad, the best place to start is with the local embassy or consulate of your destination country. Officials who work in embassies and consulates can provide you with essential requirements for entry and information regarding the local economy, holidays, and more.