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Frequently Asked QuestionsThis page is undergoing extensive revision. What questions do you have about international trade? Click on one of the questions listed below to view a responses from past IBRC experts to the specific question. Each response includes references and the appropriate links to help you personalize the response to your own industry. Do you have a question? Email us at .
Answers
Generally, firms that are expanding into foreign markets build on their success in the local economy, although with the increasing globalization of the world economy, prompted by the emerging role of E-Commerce and the Internet, this isn't necessarily the case today. Let us pose an example. Company XYZ is a US-based manufacturer of quality golf clubs. They would like to know if there is a market for their product:
Let us begin answering this question by looking at some trade statistics and posing two more questions: How many golf clubs do US firms export each year? How many of these currently go to Argentina? If you click on the "Statistics Sources" button on the menu bar to the left of this screen, you will jump to the IBRC statistics resources page. The first resource listed is a reference to the U.S. Import and Export History Database at Kerr State University in Oregon. Click on the link here and you will jump to their web site, the result of an initiative with the Small Business Administration. One of the choices on their menu page is "Go to Imports / Exports". Click on this and you will be presented with a choice of information options on either imports or exports for the period 1993 - 1997. Choose the specific commodity information section under the exports section. This page will now offer you the option of typing in a key word or finding a broad category of exported products or services. If you type in the words "golf clubs" in the search box, you will be presented with a highlighted sub category entitled "Toys, Games & Sports Equipment" If you click on this you will leap (not necessarily quickly) to a screen which, at the top, offers you the choice of either identifying the destination country you are most interested in, or, identifying the US ports of embarkation. Still on that same page, as you scroll down, you will view masses of export data on all the items included in this category. If you page down many times, below toy dolls, balls, model trains, confetti, bowling balls, snow skis, etc., you will eventually arrive at a category entitled "Golf Clubs - Complete" and the reference numbers HS 9506310000 and SIC 3949. The HS number is a Harmonized System number universally accepted around the world for this category of good. For more information on these codes, see http://www.mac.doc.gov/ceebic/thebasics/hanumbers.htm. The SIC number is the broad Standard Industrial Classification number assigned to this particular manufacturer in the United States. Immediately below this information are some statistics. These show that in 1997, 8,540,476 golf clubs were exported from the United States to the rest of the world. So there is obviously some sort of overseas market for the product you make. What about in Argentina? Return to the top of that page, and select Argentina from the destination country drop-down menu, hit select, and, after the information loads (which may take a while) once more wade through all the toy, etc. categories until you get to Golf Clubs - Complete. Here you will at last learn that 9,790 golf clubs were exported to Argentina in 1997 through Miami and another 52 left for Argentina from Los Angeles. The market is obviously not huge, but there is some market there. If your objective is to sell 100 of your special golf clubs there, and you know from your bother's wife's uncle, once-removed and twice-shy, who is a professional golfer there, that the quality of clubs available in Buenos Aires is inferior to the ones you make, you might begin the process of exploring how you can sell your products there. The answer to that FAQ is, however, a horse of a different color. FAQ 2: How do I get access to up-to-date and current trade news concerning this particular market? The intent of this FAQ is to present an example that may illustrate a situation analogous to yours, and step you through the process of answering the question so that you may do the same for your particular product or service. A general search using your favorite Internet search engine is always a good way to track down local and updated information, but if you are concerned by the number of sites that you have to sift through, there is a better way. Say for example your company, XYZ, is interested in getting some up-to-date news on South Korea. The easy way for you to find the appropriate web sites that will give you this information is by visiting the IBRC South Korean resources page where web sites have been grouped under one of four categories: Business, Travel, Government, and, Other. One of the listed business resources you'll find on this IBRC page is the Bank of Korea. Large, national banks are typically wonderful resources for businesses, and this site is no exception. It contains very up-to-date, English language information on the economy and the state of the nation in South Korea. Another good site included in the IBRC page is the Korean Trade Investment Promotion Agency which, although government sponsored, contains a lot more information than you'd expect. The National Statistical Office web site also contains information that could help you with your quest, although their information is not as timely, obviously, as other sites mentioned. Finally, the Gateway to Korea site (under modification) contains a wealth of information, including links to two on-line English language newspapers published in Korea, where you can follow emerging trade news stories on a daily basis. You can also find information on South Korea and other countries on the IBRC Country Resources index page, accessible on the left navigation panel, from which page you can access links to a number of topical web sites, including: an index of the US State Department's on-line country commercial guides; the CIA World Factbook; US Agriculture Department Guides (an often overlooked but very worthwhile resource); and many more. Happy hunting! One of the factors that will greatly affect the potential success of your business endeavors in foreign countries is the economic situation of your targeted countries. Depending on the stage of economic development of your target country, certain products may or may not be suitable for the market. Additionally, changing economic situations may affect the purchasing power of target market consumers. Reading up on the various economic factors of your country will also help you judge whether or not a particular country is a good venture at this particular point in time. The IBRC website has compiled various resources for your use in gathering economic information of this type. To begin, click on the Business Resources button on the left of your screen. There you will find links to Government Agencies such as the Office of Trade & Economic Analysis, which conducts a comprehensive program of data development, dissemination, and research and analysis on international and domestic trade and investment issues. You will also find links to Statistics Sources. This site contains data from the CIA's Handbook of International Economic Statistics and includes tables and tables of statistics about countries, markets and regions of the world. If you scroll further down the Statistics Sources page, you will find links to many other excellent resources for current economic data from around the world. Another good resource to review is the annual country reports published by the CIA. Each of these various sources takes a slightly different perspective towards the major economic data, and some will even give you an analysis of the risk involved in undertaking projects in particular countries. Be sure not to overlook large national banks within your country of interest. In many cases, these banks compile a plethora of data. Also, consider current economic and general information newspapers from your country. Many times, there are English versions available. Look for links to banks and newspapers within your country of interest's listing under Country Resources. FAQ 3: How do I identify key business contacts in a foreign country? Once you have identified the market you wish to enter, the next step of locating primary business contacts in the foreign market appears to be a daunting task. However, there are several avenues to take which will provide you with this information more easily than you thought. In many countries, it is imperative to have a local contact person who will help introduce you to key business people in your new market. An invaluable resource for making contacts of this variety are American Chambers of Commerce in other countries. For example, AmCham of Brazil-Sao Paulo is an organization whose members include American expatriates working in Brazil as well as Brazilian nationals. Belonging to such an organization in your target country not only leads to great contacts but can also provide a support system of professionals who may have experienced what you are going through. For a list of Chambers of Commerce, click on the Directories button under Business Resources. Towards the bottom of the list, you will see a link to the World Chambers Network. Click on this and you will be able to access a geographic listing of chambers of commerce worldwide. Another great resource is the U.S. Department of Commerce. The U.S. DOC can help you identify and evaluate direct leads for business contacts such as potential buyers, distributors, joint venture partners, and licensees. The Department of Commerce has product, country, and program experts as well as an extensive network of commercial officers posted in countries that represent 95% of the market for U.S. products. To access the U.S. Department of Commerce website from the IBRC homepage, click on the Business Resources button, then Government Agencies. At the bottom of the list of government resources, you will find the link to the U.S. DOC homepage. Additionally, the International Trade Administration within the U.S. Department of Commerce provides trade assistance center information, information regarding particular industries, as well as a national export directory listing international trade offices nationwide. You can access this page through the U.S. DOC homepage or through the IBRC's Top 10 List, found under the Business Resources section. One important feature of the International Trade Administration is the Commercial Service. The Commercial Service is dedicated to providing comprehensive, customized solutions to your international trade challenges. Services range from helping you make business contacts to promoting your products at international trade shows. Also, the Kansas Department of Commerce is a resource not to be overlooked. "The KDOC&H works to increase demand for Kansas products in international markets and takes an active role in bringing international businesses to the state. The KDOC&H also plans, promotes and participates in trade programs for the benefit of all Kansas manufacturers and service companies." You can access their site from the IBRC page by clicking on Government Agencies under the Business Resources link and scroll down until you see the KDOC&H link. From the KDOC&H homepage, click on Business, then International Business. You will see a number of international resources available, including a directory of international business contacts as well as the Kansas International Trade Resource Directory. Attending trade shows is another great way to meet contacts and gather information about your industry and potential markets. In addition to the trade programs sponsored by the KDOC&H, there are also many federal programs available. Within the International Trade Administration's page, you will find the Trade Information Center. One of the features of the TIC is a list of Trade Promotion Events, including an Export Promotion Calendar, which is a directory of U.S. government sponsored trade events indexed by location and industry. Additionally, important contacts can be found in country embassies. A list of embassies can be accessed directly from the IBRC Business Resources page. Click on the Embassies button to find a list of foreign embassies and chambers of commerce within the United States. Be sure not to overlook electronic newspapers as a potential source of business contacts. Many countries have English language editions of business journals in which you will discover who is opening businesses as well as other pertinent information. FAQ 4: How do I get help from US commercial offices abroad? The Commercial Service of the United States Department of Commerce is a "well-established organization designed to help you harness the resources necessary to succeed in the global economy." In addition to domestic trade professionals who provide federal export counseling, each of the Commercial Service's offices works closely with a variety of experienced international business partners including agencies dedicated to stimulating local economic development through international trade and a number of private sector partners. The Commercial Service has overseas offices in over 70 countries worldwide. "Located primarily in U.S. embassies and consulates, your connection overseas is the Commercial Service and its experienced trade professionals, who will actively pursue business interests for you in individual countries. Dedicated to providing the most professional, expert advice available, these U.S. commercial officers and local trade professionals blend extensive private sector acumen with an intimate knowledge of the language, culture, and business practices of their region." Additionally, many commercial centers have been established with the purpose of being your "home away from home" when doing business abroad, providing access not only to Commercial Service programs and services but also to rental office space, state-of-the-art computers, and fax and phone facilities. To access the Commercial Service website from the IBRC home page, click on the Government Agencies Button under Business Resources, then the Department of Commerce link. From the Department of Commerce page, click on the link to the International Trade Administration. On this page you will find a button labeled Export Assistance Centers. Click on the button and you will have access to descriptions of all the services and programs provided by the Commercial Service including a directory of Commercial Service offices abroad and e-mail links to those offices. Since the Commercial Service is dedicated to helping small and medium sized businesses succeed in starting or expanding their exporting efforts, it is well worth your time to investigate the array of services available to you through this government organization. FAQ 5: How do I find a distributor/agent? FAQ 6: Which Method of market entry is best? The most common methods of exporting are indirect selling and direct selling. In indirect selling, an export intermediary such as an export management company or an export trading company normally assumes responsibility for finding overseas buyers, shipping products, and getting paid. In direct selling, the U.S. producer deals directly with a foreign buyer. The most important factor to consider in determining whether to market indirectly or directly is the level of resources your company is willing to devote to the international marketing effort. Additional factors to consider are the size of your company, the nature of your products, previous export experience and expertise, and business conditions in the selected overseas markets. Since consideration of these various factors will lead to a different decision for each company, what you will find here is a brief description of each of the major options for indirect and direct exporting so that you can evaluate the possibilities and make the best decision for your company and your products. Indirect Exporting The major advantage of indirect marketing for a smaller U.S. company is that it provides a way to enter foreign markets without the risks of direct exporting. Several kinds of intermediary firms provide a range of export services. Commission or buying agents are finders for foreign firms that want to purchase U.S. products. They seek to obtain the desired items at the lowest possible price and are paid a commission by their foreign clients. Export Management Companies (EMCs) act as the export department for one or several producers of goods or services. EMCs solicit and transact business in the names of the producers they represent or in their own name. They operate for a commission, salary, or retainer plus commission. Some EMCs provide immediate payment for the producer's products by either arranging financing or directly purchasing products for resale. Usually only large EMCs can afford to purchase or finance exports. Since EMCs usually specialize by product or by foreign market, they know their products and the markets they serve very well and have well-established networks of foreign distributors. Export Trading Companies (ETCs) are similar to EMCs with one important difference. ETCs function as independent sales agents on a case-by-case basis. They do not maintain ongoing relationships with client customers as EMCs do. Usually, an ETC performs a sourcing or wholesale function between buyer and seller and does not assume any responsibility to either party in the transaction. Indirect exporting methods of any type have a few disadvantages, however. These include loss of control over delivery and customer service and the ensuing need to rely solely on the ability of the chosen intermediary to sustain solid customer relationships. Additionally, margins from indirect sales will generally be lower than for direct sales, since the intermediary's profit must come from the selling price. Direct Exporting The advantages of direct exporting include more control over the export process, potentially higher profits, and a closer relationship to the overseas buyer and marketplace. Several methods of direct exporting are possible. Foreign sales representatives are the overseas equivalent of manufacturer's representatives in the U.S. The representative uses the company's product literature and samples to present the product to potential buyers. A representative usually handles many complementary lines that do not compete. Usually, representatives work on a commission basis, assume no risk or responsibility, and are under contract for a defined period of time. Contracts also specify territory, terms of sale, method of compensation, as well as reasons and procedures for termination of the contract. Sales representatives can operate exclusively or non-exclusively. Foreign distributors are merchants who purchase merchandise from a U.S. exporter and resell it at a profit. Usually, the distributor provides product support and service, and carries an inventory of products, a supply of spare parts, and maintains sufficient facilities and personnel required to provide service. Distributors usually carry a range of non-competing, complementary product lines. Contracts specify terms of payment and length of the relationship between the U.S. company and the distributor. It is possible to start out with a short trial period and then extend the length of the contract if all goes well. Selling directly to foreign retailers is another possibility for direct exporting. Traveling sales representatives directly contact foreign retailers, or catalogs and brochures can be mailed to retailers. Selling directly to end-users is one other option. Buyers can be identified at trade shows, through international publications, or through U.S. government contact programs. Direct exporting may have several disadvantages due to the comparatively larger amount of resources required. Additional company time, personnel, and financial resources are necessary to successfully export directly. Many times, internal organizational changes will need to be made to support more complex marketing and distributing functions. Additionally, the exporter assumes responsibility for shipping, collection of payments, and product service. The cost of providing these services should be built into the export price to avoid profit losses. Joint Ventures In many markets it may be desirable to form a partnership with one or more companies when entering a new foreign market. Because of high risks, unfamiliar business practices, language dissimilarities, and the need to establish political connections, such partnerships enable a company to share research, production, financing, as well as a number of other benefits that can help to alleviate the risk of entering a new market. Some host countries may prohibit full foreign ownership of a business. In other cases, partnering with local firms who have established distribution and sales networks will help provide better market penetration than the U.S. company could alone. One service offered by the Commercial Service of the U.S. Department of Commerce is the Matchmaker Trade Delegation. This service "matches" U.S. firms with prospective agents, distributors, and joint venture or licensing partners abroad. Commercial Specialists at the U.S. Embassies and Consulates in the targeted countries will evaluate your product(s) or service's potential, prescreen business contacts and arrange face-to-face business meetings for your company. Another service provided by the Commercial Service is International Company Profiles . The profile will describe the reliability of prospective trading partners and additional information including a recommendation from on-site commercial officers as to the suitability of the company as a trading partner. For more information on these services, refer to the Commercial Service website by clicking on the link provided in the Business Resources section under Government Agencies. Exporting, Importing, and Beyond: How to "Go Global" with Your Small Business. Tuller, Lawrence W. 1994: Adams Media Corporation, Holbrook, MA. http://www.adamsmedia.com A Basic Guide to Exporting. U.S. Department of Commerce. 1996: World Trade Press. http://www.commerce.gov/ FAQ 7: How do I get information about the business environment?
One of the factors that will greatly affect the potential success of your business endeavors in foreign countries is the economic situation of your targeted countries. Depending on the stage of economic development of your target country, certain products may or may not be suitable for the market. Additionally, changing economic situations may affect the purchasing power of target market consumers. Reading up on the various economic factors of your country will also help you judge whether or not a particular country is a good venture at this particular point in time. The IBRC website has compiled various resources for your use in gathering economic information of this type. To begin, click on the Business Resources page. Here you will find links to Government Agencies such as the Office of Trade & Economic Analysis, which conducts a comprehensive program of data development, dissemination, and research and analysis on international and domestic trade and investment issues. You will also find links to Statistics Sources such as the Handbook of International Economic Statistics. This site contains data from the CIA's Handbook of International Economic Statistics and includes tables and tables of statistics about countries, markets and regions of the world. If you scroll further down the Statistics Sources page, you will find links to the Organization for Economic Cooperation and Development (OECD) and the World Bank, both excellent resources for current economic data from around the world. Another good resource to review is the annual country reports published by the CIA. Each of these various sources takes a slightly different perspective towards the major economic data, and some will even give you an analysis of the risk involved in undertaking projects in particular countries. Be sure not to overlook large national banks within your country of interest. In many cases, these banks compile a plethora of data. Also, consider current economic and general information newspapers from your country. Many times, there are English versions available. Look for links to banks and newspapers within the Country Resources section of your country of interest. FAQ 8: How will exchange rate fluctuations affect my company? Foreign exchange always affects any international trade transaction. Whenever a U.S. company exports raw material, products, or services to another country; imports material or finished products; or makes a foreign direct investment in a project, it has three choices of currency to use for payment: U.S. dollars, the currency of the customer's country, or the currency of a third country. A company's decision about the best currency to use should be based on its forecast of the most likely exchange rate movements. Currencies move freely up or down in relation to other currencies, driven by central bank intervention and free-market forces. In many respects, foreign exchange rates react to the same forces as the world's stock exchanges. However, there is not tried and true method for explaining exactly what causes exchange rates to move and predicting how much they will move. When finalizing business transactions, a few things are important to know regarding exchange rate fluctuations. Suppose you are making a deal with a client in Germany. At the time you sign the contract, suppose the U.S. dollar is trading at US$1:DM$1.85. That means that for every US$1 you require in payment, the client will need to have DM$1.85 to pay for the goods. Now, suppose that a fluctuation occurs in this exchange rate such that now the U.S. dollar is trading at US$1:DM$2. Now, the client needs to have more deutschmarks to pay for the goods than were required previously, at your price in U.S. dollars. This means that for your German client, your goods are more expensive, and he may look for a cheaper alternative. Keeping an eye on the exchange rate trends for the currencies in which you will be trading is essential to remaining competitive. One good resource for discovering current exchange rates is the Universal Currency Converter. You can locate this resource from the Business Resources page by clicking on the Exchange Rates button. At the bottom of the list of exchange rate resources, you will find the link to the Universal Currency Converter. Conversions can be made from over 80 currencies into the currency of your choice. For additional assistance regarding how to handle foreign exchange in your transactions, first try to get advice from your bank. Many times, however, banks don't really like to give advice, they would rather follow your instructions. If that is the case, you can look for help from investment banks, merchant banks, or qualified international financial consultants. Exporting, Importing, and Beyond: How to "Go Global" with Your Small Business. Tuller,
Lawrence W. 1994: Adams Media Corporation, Holbrook, MA. Check the Exchange Rate Service link...our description sounds really good, but our link takes us to another service that doesn't really seem related or to have any exchange rate information... FAQ 9: How do I get information on legal requirements and regulations? Since legal requirements and regulations vary from market to market and from country to country, this is often one of the most difficult topics to consider when entering a foreign market. To be successful in a host market, one must be knowledgeable of all the legal regulations that govern business there. In addition, once certain legal requirements have been met (labeling on packaging, for example), you may find that your business venture isn't as profitable as you once thought. Luckily, there are several resources available to you to help you find the appropriate information for virtually any market you wish to enter. You can find the resources we have selected from the Business Resources page by clicking on Legal Issues . On the Legal Issues page you will see a list of resources with short descriptions about what each contains. One comprehensive one is the International Trade Law Library with rules, regulations, treaties and laws affecting international trade, in a keyword searchable database including GATT, NAFTA, WTO, UNCITRAL, U.S. Export Admin and U.S. Customs regulations. The library also includes UN conventions, model laws and legal guides on international trade issues. Another possibility is to hire a trade consultant from the surrounding area. Speaking directly with someone who already has experience with your target market may be extremely useful when trying to weed through the mire of existing and changing regulations. A list of consultants can be found from the Business Resources page by clicking on the Trade Consultants button. FAQ 10: How do I make/finance a foreign direct investment? FAQ 11: How can I learn more about my target country's culture so I can handle cultural differences and communication in my first business meeting? It is very important to know as much as you possibly can about your target country's culture before beginning to build a relationship with clients or partners in that country. It is often said that businesspeople from the United States are in a hurry to close deals and don't spend much time in the relationship-building stage. However, in many countries, that is just what is needed if you hope to have a successful, continuing trading partnership. It is also said that U.S. businesspeople tend to rely too much on written contracts, when what may be needed is trust in a handshake. In many Central and South American countries, business deals are more likely to be closed over a social brunch than behind closed office doors. In others, however, it may be rude to bring up business subjects in a social setting. Try to learn what you can before your first business encounter in the target country, so that you can avoid some of these embarrassing pitfalls! One way to find information is to look through the resources we have compiled for each country. From the IBRC homepage, click on Country Resources, and then locate your country of interest. For each country listed, we have four major categories of resources: Business, Government, Travel, and Other. For many countries, in the Business Resources section you will find a guide to doing business in that country. Specific details regarding the nature of business meetings and social events, expected behavior of the visiting businessperson, and many other useful pieces of information are given in these guides. If your country doesn't have a guide like this one, you can find useful travel guides in larger bookstores nationwide. Another good resource for discovering cultural information is the Web of Culture . You can access this site from the Business Resources page by clicking on the Cultural Aspects button from the list at the right of the screen. This excellently designed site is rated as the premier Web source for global business competency, and offers some excellent resources including an "consult our experts" section. This is a wonderful resource! One interesting section of this site deals with gestures and body language. As I personally discovered when traveling in Brazil, the OK sign (common here in the U.S. to signify "I've got it. Don't worry about it!") is a rude gesture and not to be used lightly! Reviewing a number of different cultural resources before you travel will help you make the right impression once you get there and will help you get around in many cases even more than knowing the language! For instance, in many countries, an expected pleasantry is that the visitor will come bearing small gifts for those being visited. In many cultures, taking off one's shoes is not only expected, but not doing so may imply disrespect for those whose house you are in. Even splitting the tab in a restaurant with a group of business associates may affect your appearance greatly. Some cultures split the tab evenly among all diners no matter who ate what; in others, the inviter pays all. Reading up on the various cultural differences of your target country will help ensure a positive experience while you are there. Good luck! FAQ 12: What should I know about traveling abroad? Due to the changing nature of U.S. foreign and political relations with other countries, it is always a good idea to acquire a little bit of background information about the country in which you will be traveling. One good way to find this information is to access the Travel Resources section within the page of the particular country in which you are interested. For example, suppose you are interested in traveling to Iraq to finalize a business deal. By clicking on Country Resources and then on Iraq you will come to the resource page for Iraq. Included in this page, as for every country, you will find four major categories of resources: Business, Travel, Government, and Other. Scrolling down to the Travel section you will find a range of sources including hotel listings and vacancies, airport information, car rental information, and a Consular Information Sheet. Reading the information sheet you discover a travel advisory warning for U.S. travelers in this area currently. Depending on the country, you may be able to make hotel and car rental reservations directly from the links provided in the Travel Resources section. Even if you already have your reservations made in advance and feel reasonably confident that U.S. relations with your target country are fairly peaceful, it may still be to your advantage to take a quick glance through the Travel Resources section for your country. In some countries, getting from the airport to the hotel may not be as simple as calling a cab! It is always better to be over-prepared than under-prepared, and that is why we have compiled a list of the most useful and comprehensive travel resources available for the countries included in our website. Happy traveling! FAQ 13: Do I need to limit expansion opportunities to only those countries where company personnel speak the language? Please don't feel you need to limit yourself to only a few countries because of language difficulties. Even though lack of language knowledge creates another challenge, there are many ways to meet that challenge. For instance, suppose you receive an e-mail that is unintelligible to you because it is written in a foreign language -- never fear! There are a variety of tools available to you! One of the newest devices available on the Internet is a translator that will translate basic phrases from French, German, Italian, Portuguese, and Spanish into English and vice versa. You can find this from the IBRC website by clicking on Business Resources, and then on Translations. At the top of the list of translation resources is a link for Translation Services, which will take you to this particular translator. This service from Digital's AltaVista site is amazing. It is now possible to read Web pages in any of six major languages or get quick translations of words or bits of text simply by entering information and clicking on a button. Best of all, the service is completely FREE! However, beware! This little tool is not very "smart" sometimes. It translates literally, so you may lose the inherent meaning of colloquial phrases. Another interesting tool is found from the Business Resources page by clicking on Translations, and then scrolling down the translation resources for the link labeled Foreign Languages for Travelers. This tool allows you to pick the language you speak, and then the language you want to learn from a list of over 65 different languages. You can then choose from basic words, numbers, shopping/dining, travel, directions, places, and times/dates. A brief list of important phrases for travelers pops up with the English and foreign language equivalents given. It may still be a little tricky to come up with the appropriate pronunciation on your own! Another option your company can consider is hiring a translator. A selection of those who can provide this service can be found by reviewing the list of resources under Translation Services as described above. Translators offer a variety of services depending on their experience ranging from written work to proofreading to live translation during business meetings. In some cases, even if you feel you know the language fairly well, it still may be to your benefit to take a live translator with you to avoid embarrassing nuances of the language that may come up in business transactions. Additionally, during negotiation processes, sometimes the extra time that must be allowed for the translator to translate can provide you with valuable thinking time! Luckily there are also resources available at KU. It is possible you might find students, faculty, or staff who are looking for translation practice in their acquired language areas as well as a considerable number of international students who may be willing to help you with your correspondence. A good place to start would be the department of the particular language with which you require help. From the Home page, click on KU Resources , and then on Other KU Links. Then, click on the link that says KU Facts, and within KU Facts, you will find a list of all the academic departments. Best of luck to you in your new endeavor! FAQ 14: How do I move my products overseas? Information on this topic can be found on the trade information centre website www.trade.gov.td/tic FAQ 15: Where can I get trade leads, how can I evaluate them? When you are first considering entering a foreign market, it may appear the problem is finding a sufficient number of adequate trade leads. In fact, the opposite may be true. The sheer number of trade lead possibilities can often be overwhelming. Since there are indeed hundreds of sources available, we've tried to identify the best for you by creating a list of electronic trade leads. The KU IBRC has independently reviewed the best sources of electronic international trade leads available on the World Wide Web and provides this list as a service to small and medium sized firms looking to explore or expand their international trade opportunities. This list is constantly being updated (recent additions appear in bold type), so please check back regularly. Each site referenced here has been reviewed and rated on the basis of DESIGN (how easy is it to find your way around?), DEPTH (what is the quantity and quality of trade leads presented?), SEARCH (is it easy to find appropriate trade leads?), and, LINKS (are there useful links or references to other trade resources?). A "globe" is awarded to each site for a good-or-better rating on each one of these categories. A site is awarded an additional globe in instances where the site is truly exceptional. This page presents a summary listing and ratings for each of the trade lead web sites reviewed by IBRC staff and faculty. To read a review for a site, click on the "Review" button. To jump directly to the site, click on the name of that site. To access the Trade Leads list, click on the Trade Leads button from the IBRC home page. FAQ 16: Are there international experts at KU or in this area who can talk to me personally about my region of interest? The University of Kansas is very proud of its worldwide reputation as a premier institution of higher learning with strong programs supporting international research, international studies and international resources. KU has a variety of international resources available in a wide range of areas of expertise. By clicking on KU Resources from the IBRC website, you can access faculty with areas of expertise in Africa, East Asia, Russia and Eastern Europe, Latin America, and International Business. On the University Resources page you will also find links to other KU resources such as the Institute for Public Policy and Business Research, where you can speak with knowledgeable economists; the Internet Business Library, where you will find a variety of business resources; and the KU Government Documents Library: International Links , an excellent site with very detailed international links. Additionally, KU often has visiting professors from other universities and other countries who can provide current inside knowledge from their area of the world. Check with the departmental area relating to your region of interest for present and upcoming visiting professors to schedule an appointment. In the surrounding area, there are several international consultants with a broad range of expertise that are available to provide their services to you. Expertise ranges from negotiation to translation, from market research to investment, and from cultural transitions to general export support; geographic interests range from the Pacific Rim to Latin America. From the Business Resources page, click on the Trade Consultants button to view a list of area international trade consultants. For other frequently asked questions refer to the Trade Information Center Website at www.trade.gov/td/tic/
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