Jun 25, 2009

Looking into International Trade

I’ve always thought about the international trade and believe it or not I even want to try selling abroad. I think selling abroad is not an easy thing to do because you have to think about customs and duties of the country that you would want to export to. I have also learned in the past that it is not easy to export food, beverage, medicine and cosmetics to other countries. Every nation has standards in food and drugs to be meet prior to acceptance to their country because of safety regulations. If you are interested to be part of the export and import industry there is a need to know about the food and drug regulations of the country that you are exporting to.

I think the safest thing to export is garments and accessories because all you have to think about is customs and duties. You might also want to check on harmonized codes for your products. In the import and export industry, you should be aware of the need in complying with the right classification codes for your goods. According to the web portal which I have mentioned earlier, they claimed that companies and the government are loosing billions in revenue due to the fact of classification errors. You can visit the link here for hts code lookup and hs tariff classifications.

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Reminder to everyone:

English is my second language so bear with me if my grammar, as well as sentence and paragraph construction is faulty. I am not writing to impress but simply to express my thoughts.

The opinion written here is solely mine and I have no intention to impose it to anyone for that matter. So as the title goes this is just my perception