Import Export Guide: A to Z for Beginners

Why You Should Learn About Import Export

In the era of globalization, import and export are not just simple business activities but also crucial bridges that drive economic growth, expand markets, and strengthen international relations. Understanding this field helps businesses access diverse supply sources, expand consumer markets, increase profits, and enhance competitiveness in the international market. This is also a field with great potential, attracting many investors and businesses.

Basic Steps in the Import Export Process

1. Market Research and Product Selection:

The most crucial step is to identify market demand, research competitors, and select products with potential. You need to consider factors such as supply and demand, pricing, tariffs, market risks, and the product’s competitiveness.

2. Finding Partners:

Find reliable partners, including suppliers (for exports) or customers (for imports). This requires carefulness, information verification, and thorough negotiation on price, quality, and payment terms.

3. Customs Procedures:

This is the most complex part. You need to prepare all necessary documents such as: Sales contracts, shipping documents, certificates of origin, commercial invoices, and other permits and certificates depending on the type of goods. Incorrect procedures can lead to delays, fines, and even bans on import and export activities.

4. Goods Transportation:

Choose the appropriate mode of transportation (sea, land, air) depending on the type of goods, cost, and transportation time. Manage the transportation process and ensure that goods arrive safely and on time.

5. International Payments:

Choose a suitable and secure payment method such as L/C (Letter of Credit), T/T (Telegraphic Transfer), D/P (Documents against Payment) to ensure the benefits for both parties in international transactions.

6. Risk Management:

Prepare contingency plans for potential risks in the import and export process, such as transportation risks, political risks, and foreign exchange risks…

Things to Keep in Mind When Starting Import Export Activities

Thorough preparation is necessary: Market research, understanding legal regulations, choosing reliable partners, and effective risk management. Understanding Free Trade Agreements (FTAs): Taking advantage of tariff concessions from FTAs will help businesses reduce costs and increase competitiveness.

Consult experts: If you lack experience, seek assistance from import/export experts to avoid unnecessary mistakes.