...Top 10 Import/Export Business Ideas That Work By Dave Bui Small businesses in the import/export arena first need to identify the products or services they want to carry. Here are the top 10 import/export ideas you can start on immediately: 1. Food products: The easiest option for export is food-related products. It is easy to find companies that manufacture food products locally for domestic consumption. Many of them never export. If the products are of good quality, you can link up with them and export a part of their produce. 2. Clothing: This is a year-round business, where demand never dries up. Specialized clothing, particularly for women, makes for a great import-export business. If you have access to unique dyeing techniques, printing styles and embroidery methods, you will have a very profitable import-export business. 3. Jewelry: As with clothing, there is always a market for jewelry around the globe. Customized jewelry, ethnic jewelry, handcrafted jewelry make for excellent import/export products. 4. Toys: This is yet another category where there is perennial demand. There is a cultural component associated with toys and, as with jewelry, people are often willing to experience for themselves the trends prevalent in other nations. The matryoshka (“nesting”) dolls of Russia, the cane and bamboo toys of India, the kendama (ring-and-pin toy) of Japan, the piaji (kids’ game) and the yo-yos of China are very popular and are also a sound business idea for import/export...
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...General Conditions of Imports: (1) H.S. Code Number for import purpose : Use of H.S. Code with at least eight digits corresponding to the classification of goods as given in the First Schedule of the Customs Act, 1969 (Act No. IV of 1969) based on the Harmonized Commodity Description and Coding System, shall be mandatory: Provided that, Bank shall not issue L.C. Authorization form or open L/C without correctly mentioning H.S. Code number for the item(s). (2) NOC on the basis of ROR (Right of Refusal)--- No Objection Certificate on the basis of Right of Refusal (ROR) from any authority shall not be required for import of any freely importable item by any Public Sector agency: (3) Pre-shipment inspection--- (a) In this order where there is condition for pre-shipment inspection of imported goods they said condition has to be complied with; and (b) Unless otherwise specified, in case of export and import, shipment of goods can be made under The Bangladesh Flag Vessels (Protection) Ordinance, 1982 (Ord. No.XIV of 1982). (4) Import at competitive rate--- Import shall be made at the most competitive rate and it is obligatory for the importers, at any time, to submit documents to Import Control Authority regarding the price paid or to be paid by them; (5) Import by mentioning “Country of Origin”--- A certificate regarding “country of origin” issued by the concerned...
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...IMPORT An import is a good brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer. An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions. "Imports" consist of transactions in goods and services to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accountsincludes and excludes specific "borderline" cases. A general delimitation of imports in national accounts is given below: * An import of a good occurs when there is a change of ownership from a non-resident to a resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e.g. cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair)...
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...2010 National Accounting Wing BANGLADESH BUREAU OF STATISTICS Statistics Division Ministry of Planning Government of the People’s Republic of Bangladesh Dhaka, Bangladesh IX Foreword Foreign Trade Statistics (FTS), one of the core publications of Bangladesh Bureau of Statistics (BBS), is being published annually since 1973-74. It is The 23rd issue which contains information about exports and imports of 2008-09. It should be mentionable here that it presents disaggregated data to the possible extent on foreign trade following Harmonised Commodity Description and Coding System (HS code). The data furnished in this report have been collected from National Board of Revenue (NBR). Although BBS used to collect some export and import documents from various customs stations to ensure complete coverage of foreign trade but for the present issue, the only data source is NBR which brings all the data generated in various customs stations under their documentation. This edition has got two parts: Volume-I having five tables with export data and Volume-II containing four tables with import data. I would like to express my heartfelt thanks to the Director General and his fellow colleagues of BBS for bringing out this report. I also appreciate the relentless efforts of the concerned officers and staff of Foreign Trade Section of National Accounting Wing, BBS for collection and compilation of the data provided in this report. Any comments and suggestions from the users and other stakeholders...
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...at another named place (i.e., works, factory, warehouse, etc.). The seller does not need to load the goods on any collecting vehicle, nor does it need to clear the goods for export, where such clearance is applicable. The parties are well advised to specify as clearly as possible the point within the named place of delivery, as the costs and risks to that point are for the account of the seller. The buyer bears all costs and risks involved in taking the goods from the agreed point, if any, at the named place of delivery. Seller’s responsibilities: 1) Produces the goods and commercial documents as required by the sales contract. 2) Makes the goods available to the buyer – unloaded – at the named place in the sales contract. For example, EXW-3plwire.com Factory, Los Angeles, CA. 3) Assumes all risk to the goods (loss or damage) only up to the point they have been made available to the buyer, which is usually the seller’s door. 4) Seller must advise the buyer of the location and time of availability of the goods to the buyer. 5) Seller has no obligation to provide the buyer with proof of delivery or transport documents. Buyer’s responsibilities: 1) Buyer must pay for the goods as per the sale contract 2) Buyer must obtain all commercial documentation, licenses, authorizations, and export/import formalities at own risk and cost. 3) Buyer must take delivery of the goods when they have been made available by the seller and at the place nominated by the seller in the sale...
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...Import Services | HSBC | Krungsri | L/C Opening Commission | • 0.25% per quarter or minimum THB1,200.- | • ¼% Amount credited to importer’s account multiply by the times of current with a minimum THB 1,000.- | Cable / Swift charges for LC opening | •THB1,000.- •Plus an addition of THB500.- for cable over 4 pages | •THB1000.- per page •More than 3 pages were counted THB500.- per page | L/C amendment | •THB500.- | •¼% of Amount credited to importer’s account added or depend on period renewal (3 months for one period or 90 days) | Cable / Swift changes for LC amendment | •THB600.- | •THB500.- per page | Revolving L/C commission | •0.25% per quarter (applies to reinstatement unit maturity) | • ¼% Amount credited to importer’s account multiply by the times of current with a minimum THB 1,000.- | Standby L/C commission | •2.50% per annum or minimum THB1,200.- | • ¼% Amount credited to importer’s account multiply by the times of current with a minimum THB1,000.- | Back to Back L/C | - | •¼% Amount credited to importer’s account multiply by the times of current with a minimum THB1,000.- | Import Bills for Collection (not under LC) | •0.25% up to THB1,000,000.- plus 0.125% thereafter or minimum THB1,200.- | •⅛% of transfer amount | Engagement Commission for Usance LC(bill under Usance LC) | •2.50% per annum or minimum THB1,200.- | •2.5% per annum of the amount in bill collection to obtain the documents | Engagement Commission for Sight LC(bill under Sight LC)...
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...Imports As we all know Imports are goods or services brought into a country. China is second in overall Imports for the world Behind the US. EU is not counted in this ranking system because it is multiple countries. China's biggest import is Oil now. Some of the other exports are Industrial Supplies and Mechanical Machinery, optical and medical equipment, metal ores, plastics, and organic Chemicals. Chinas top five Import partners Are Japan (9.8%), South Korea (9.2%), America (7.1%), Germany (5.1%), and Australia (4.3%). Again if we were including the EU it would be at the top at 12.1% but because it is multiple counties and we are focusing on single countries these are the top 5. China's imports total up to about $1.753 Trillion Dollars according to the CIA fact book and the year that they measured this is 2012. Regionally, almost half of China's imports come from the East and Southeast Asia. Out of the five busiest ports in the world, three are in China. Imports for China are expected to rise. Exports We also know that Exports of goods and services represent the value of all goods and other market services provided to the rest of the world. Since the late 1970s China has moved from a closed, centrally planned system to a more market-oriented one that plays a major global role. China became the largest exporter in the world in 2010. However if you were to count the European Union it would be above China. A reason for china being ranked number one on the export list is because...
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...TUGAS PERSIAPAN UAS EXPORT IMPORT POLICY Dear students, Please answer these following questions: 1. What are intellectual property rights, their types and purpose? * Intellectual property rights (IPRs) are laws regarding the protection of intellectual property that describe the ways in which the creators of intellectual property can control its use. * Types of intellectual property rights: * Patents are the form of IPRs that protects inventions. * Utility models is an alternative to patents to protect inventions in some countries. * Industrial designs is an alternative to patents to protect features of a product that are produced by industrial means. * Copyrights are the form of IPRs that protects original works of authorship including literary, dramatic, musical, artistic and certain-other technology-based works such as computer programs, electronic databases, and multimedia productions. * Trademarks are the form of IPRs that protects a word, name, symbol/ device to indicate the source of a good and to distinguish it from other goods. * Servicemarks are the form of IPRs that protects a word, name, symbol/ device to indicate the source of a service. * Geographical indications are a variant of trademarks and servicemarks which is signs on a good associated with the origin of the good. * Plant Breeder’s Rights (PBRs)/ Plant Variety Rights (PVRs) are rights granted to the breeder of a new variety of...
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...Export and Import Management I. Research for Exports When entering a culturally and linguistically different part of the world, managers need to understand a completely new way of commercial thinking that is based on a different culture and works on a different set of premises. The first step is to use available secondary data to research potential markets. The identification of an appropriate overseas market involves the following criteria: * Socioeconomic characteristics (e.g., demographic, economic, geographic, and climatic characteristics) * Political and legal characteristics * Consumer variables (e.g., lifestyle, preferences, culture, taste, purchase behavior, and purchase frequency) * Financial conditions On the basis of these criteria, an exporter can form an idea of the market segments in a foreign market. II. Export Market Segment There would be geographical and psychographic segments in many different countries to which the firm can export the same core product it sells in domestic markets without any significant changes. Products that can be standardized could satisfy basic needs that do not vary with climate, economic conditions, or culture. A standardized product is the easiest to sell abroad logistically because the firm incurs no additional manufacturing costs and is able to use the same promotional messages across different regions in different countries across the world. Where it is not possible to sell standardized products, the firm could...
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...L/C Procedures for Import & Export with Practical Exercise Bangladesh is a developing country. The main growing sectors and industries in Bangladesh are Ready Made Garments, Pharmaceuticals, Leather, Ceramics, Plastics, Steel, Shipbuilding and many others. Most of the industries irrespective of their categories are depended on imported raw materials directly or indirectly in addition to local procurement. Besides, the export oriented industries have been exporting their finished goods throughout the world. Exports and Imports involve a lot of technicalities because this takes place between two countries, under different situations, rules and regulations and culture. As such, export-import transactions call for proper understanding and in depth knowledge of various technical aspects including Letters of Credit Operations. To learn these theoretical aspects and for sharing of many other practical details regarding export and imports from the experience of a professional - executive this training has been arranged. Training Objectives: This training aims at: • Why and how domestic trade and international trade differ; • The various international trade payment methods including open account payment terms; • The role of bill of lading in international trade; • Differentiate between the documents that are documents of title to goods and those that are not. • Letters of Credit –its origin, meaning & types. • Role and responsibilities of the parties involved...
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...Japan’s Export: A Business Opportunity Maria Griselda Dillet Marketing 4308 Table of Contents Executive Summary 3 Japan 5 Government and Politics 5 Foreign Relations 6 Economy 6 Imports and Export 7 Imports 8 Export 9 Business Opportunity 10 Making the Opportunity Work 13 Recommendations 14 Declaration 16 Works Cited 17 Executive Summary Japan is a country east of South Korea, China, Russia and North Korea. It consists of 6852 islands. The country’s authority is vested in the monarchy. There is an Emperor, who is a ceremonial figure. The country has two parliaments, i.e. the House of Representatives and the House of Councilors. Japan has strong foreign relations being a member of the APEC, G8 and ASEAN. It has been a member of the United Nations since 1956. It is the third in the world as far as the national economy is rated. Japan’s main imports are raw materials, fuels, machinery and equipment, textiles, chemicals and foodstuffs. Its main import partners are the United States, Saudi Arabia, European Union, China and United Arab Emirates. The country’s main exports are motor vehicles, office machinery, semiconductors, scientific and optical equipment and other electronic components. It exports products to the United States, European Union, South Korea, Hong Kong, China and Taiwan. The idea is to start a company and locate it in one of the African countries. This company will be involved...
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...Ministers, also called the Cabinet (Saudi Embassy). There are 22 government ministries that are part of the Cabinet. Each ministry specializes in a different part of the government, such as foreign affairs, education and finance. Since the beginning of the first Saudi state in the 18th century through the founding of the modern Kingdom of Saudi Arabia by the late King Abdulaziz bin Abdelrahman Al-Saud on September 23, 1932, Shari'ah (Islamic law) has been the pier and source of Saudi Arabia's basic system of government. It identifies the nature of the state and its goals and responsibilities, as well as the relationship between the government and its citizens. Saudi Arabia is the 19th largest exporter and the 20th largest import market in the world, and exports of non-oil products to some 90 countries average around six billion dollars per year (Saudi Embassy). Shown in the charts below are...
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... The 3 commodities chosen are 1) Tobacco leaf 2) Walnuts 3) Buffalo meat 1) Tobacco leaf: Tobacco, one of the most widely-used addictive substances in the world, is a plant native to the Americas and historically one of the half-dozen most important crops grown by American farmers. From 1617 to 1793 tobacco was the most valuable staple export from the English American mainland colonies and the United States. Until the 1960s, the United States not only grew but also manufactured and exported more tobacco than any other country. The largest tobacco company in the world by volume is China National Tobacco Co... World tobacco leaf exports from 2010-2011 averaged 1.98 million tonnes per year which the FAO expects to grow by 1% to 2.2 million by 2012. Today developing nations are responsible for almost 65% of global tobacco exports, while developed countries account for the remainder. Of the countries below, the domestic economies of Zimbabwe and Malawi depend most heavily on tobacco exports to the rest of the world. Production by country: Country or region Production in thousands of tons China 2,298.8 India 595.4 Brazil 520.7 United States 408.2 European Union 314.5 Zimbabwe 204.9 Turkey 193.9 Indonesia...
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...U.S. Trade Analysis with other Countries Abstract Purpose- This paper presents the analysis of U.S. imports and exports by managing the trade balance. It also presents the leading U.S. imports and exports in terms of value along with the important partners. Design/methodology/approach- The author explains the balance of trade including the rise and fall of U.S. trade deficit using the analysis between different countries imports and exports. Research limitations/implications- The study is limited to analysis of imports, exports, trade surplus and deficit of U.S. trading. Originality/value- This paper will help to build up the understanding about the basic imports, exports and importance of balancing the trade cycle for a country. Keywords- Deficit, Import, Export, Surplus, Economy Introduction Every country has to follow a set of policies, methods and processes in order to perform imports and exports. A number of conflicts arise due to weak foreign trading policies by countries. It requires professional expertise to manage the trade of a country. There are also a number of conflicts generated between the different countries related to financial decisions of countries. To eliminate the risk involved in financial issues a system of principles, procedures, policies, responsibilities, accountabilities are used by stakeholders. Many of the famous financial scandals are noted in the history occurring at Parmalat, Nortel, and Enron. It has cost a lot of drop in the market...
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...one. This problem created several questions from the American public. Should the government be putting restrictions on cheaper goods imported into the U.S. in order to save jobs? Or should they encourage importation so that people can continue to afford products? The answer might be surprising to some. Limiting importation would hurt the United States economy more than it would help. In 2012 the United States imported $2.334 trillion worth of imported products. This number was up 7.8 percent from 2008. Oil and machinery topped the list, clocking in at over 33 percent of total imports. China imported the most goods, at 19 percent. America’s largest retailer, Wal-mart, imported $235 billion worth of goods in 2006. The effect this had on American employment was colossal. Over 1.8million jobs were eliminated between 2001 and 2006. Unfortunately this is typical of American businesses. They will import to receive a cheaper price, therefore eliminating jobs in the American workforce. However, importation isn’t always a bad thing. The U.S. participates in free trade, “or the flow of goods and services over borders unhindered by government-imposed restrictions.” (Steiner, 410) Free trade works because it allows countries to specialize in what they can produce the most efficiently. This allows them to...
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