Some questions to help you review and plan for your business:
Consider the shipping documents and financial instruments that need to be exchanged and assess the trade risk of non or late payment, faulty documentation, transport, exchange rate and country risks.
Ask yourself, why do you want to export? Which countries and with whom do you want to trade with? How much do you want to trade and what are the benefits?
Carefully consider transportation costs, political and historical ties, country sizes and shocks to the economy and environment. Learn about the market and do your research.
Other factors to consider are the impact of exporting to regional economic integrations such as the EU, NAFTA, ANDEAN PACT, MERCOSUR, CARICOM and ASEAN; Particularly, the level of free trade versus protectionism.
GATT has led to reduced tariffs amongst countries, but be aware of 'new' protectionism measures such as control of imports (Quotas and voluntary agreements) and subsidies.
Further guidance is available on the CorCoach Social Learning Network. Collaborate with others and create an action plan. Join the group 'International Business'.