Import Export Guide: A to Z for Beginners

Basic Concepts of Import and Export

Exporting is the act of selling goods and services to foreign countries. Importing is the act of buying goods and services from foreign countries. These two activities create a global supply chain, driving economic growth.

Steps in Exporting

1. Finding Markets and Customers:

Market Research: Identify needs, competitors, and import regulations of the target country. Customer Search: Participate in trade fairs, use international e-commerce platforms, and contact foreign businesses directly.

2. Preparing Goods and Documents:

Ensuring Goods Quality: Comply with quality and safety standards of the importing country. Document Preparation: Sales contract, commercial invoice, bill of lading, certificate of origin, quality certificate (if required).

3. Export Customs Procedures:

Customs Declaration: Complete the electronic customs declaration form. Payment of Export Taxes: Pay taxes and fees as required. Customs Clearance Procedures: Obtain customs clearance documents to export goods.

4. Goods Transportation:

Choosing a Transportation Method: Sea, air, or land transport. Goods Insurance: Purchase insurance to protect goods during transportation.

5. Monitoring and Problem Solving:

Shipment Tracking: Monitor the status of goods throughout the transportation process. Problem Solving: Address any issues that arise during the export process.

Steps in Importing

1. Finding Suppliers:

Supplier Research: Determine the credibility, product quality, and price of the supplier. Contact and Negotiation: Agree on price, quantity, and delivery time.

2. Preparing Import Documents:

Sales Contract: Agreement on sales terms. Commercial Invoice: Clearly states goods information, price, and quantity. Bill of Lading: Goods transportation document.

3. Import Customs Procedures:

Customs Declaration: Declare complete information on the electronic customs declaration form. Payment of Import Taxes: Pay taxes and fees as required. Customs Clearance Procedures: Obtain customs clearance documents to import goods.

4. Receiving and Inspecting Goods:

Goods Receipt: Receive goods from the supplier or shipping company. Goods Quality Inspection: Compare with the sales contract.

Important Considerations

Laws and Regulations: Understand the laws and regulations on import and export of Vietnam and the relevant country. Risks and Risk Management: Identify and manage risks in the import and export process such as transportation risks, payment risks, and goods quality risks.

Seeking Professional Support: If you lack experience, seek support from import and export service companies or consulting experts.