exporting handbook launched
Stabroek News
June 4, 2004
From left is Geoffrey DaSilva, director of the Guyana Office for Investment; Tom Whitney, director of the Guyana Economic Opportunities Project and Mike Sarhan, the mission director for the United States Agency for International Development, at Le Meridie
Target your most promising market and don't move on until it has been thoroughly explored.
This is one of seven tips to export success contained in a local handbook which also gives valuable advice on regulations and overseas contacts.
"The Exporter Handbook: The export answer book for Small and Medium-Sized Exporters," is a joint effort of the Guyana Office for Investment and the United States Agency for Inter-national Development (USAID), through its Guyana Economic Opportunities (Geo) Project.
The handbook was introduced at the Le Meridien Pegasus on Tuesday and copies were distributed to exporters who are preparing for the Guyana Trade and Investment Show in Trinidad this weekend and in Toronto, June 18 to 20.
This handbook is based on a generic handbook (Trade Secrets: The Export Answer Book) developed by the International Trade Centre- United Nations Commission for Trade which was customised for local use.
Glynis Beaton, general secretary of the Young Women's Christian Association which exports craft, place mats and blended seasonings among other items says the book will be very beneficial to her organisation.
Beaton says the handbook will help her establish contacts with importers overseas.
She says in many cases small exporters have to pay a consultant to get the advice contained in the handbook.
The GEO Project director, Tom Whitney states the book tried to answer 125 of the most commonly asked questions.
These answers are supplemented by names and addresses of the private and public sector contacts and a list of 100 publications, periodicals and websites for further information.
For example there is information on how persons can obtain export licences and other documents.
Also examined are the regulations and duties for exporting to Caricom countries and the tariffs applied to products in particular countries. There is also a section on what documentation is needed when seeking financing to commence exporting and how changes in the foreign exchange rates affect exports.
Advice is also given on letters of credit and the steps in completing a letter of credit; the ways of obtaining payment from a foreign importer; labelling and meeting international quality standards.
Seven tips for exporting success
Speaking to other exporters who have succeeded in the target market was one of the tips.
Planning for the financial resources which would be needed and being prepared for additional costs for market research, product launching and personal visits are other pointers.
Exporters also need to be ready to meet increased demand from a successful foreign sale and to adapt the product/service to the needs and tastes of the target market.
It was also advised that building business relations in foreign markets is best done face to face even though faxes, phone calls and emails are a good means of communication. Within foreign markets customers appreciate when the exporter makes an effort to learn more about their culture.
Developing foreign markets is a long-term commitment and it takes time, effort and resources, so exporters are advised to be prepared for the long haul.
Dr. Mark Bynoe who prepared the handbook stated that it was a challenging task since exporters were sceptical in releasing certain information. Bynoe was assisted by consultant and researcher, Theodore Thomas.
Bynoe noted that exporters from 25 to 30 different sectors were interviewed for the handbook including agriculture, garment manufacturing and tourism. He is the director of the Environmental Studies Unit at the University of Guyana and is an Economics lecturer as well.