World Trade

Recommended supplement

 

World Trade is a smart-looking publication of approximately 215 pages that was created "for the Executive with Global Vision." The editors do a credible job in trying to capture the essential trade news.

Feature articles are not done in-depth, being only three or four pages long and not statistically driven. However, some topics are done in serial, which is both good news and bad news. The good news is the topic is well covered; the bad news is (at least from the reader's point of view) you better not miss an issue or you don't get the whole picture. For example, one article, "The 10 Steps of Global Trade," is broken down into a number of issues (e.g., October: step 6, the initial face-to-face with overseas business prospects). This is a good technique for keeping the reader coming back, but makes it a little inconvenient carrying around five or six issues while trying to research an article.

Having said that, the articles are easily read and on top of current issues, for example: "Ford's World Drive," by James L. Srodes. ("Ford Motor Co. wants to be the top carmaker in the world. We talk with Ford chairman and CEO Alex Trotman about the global strategy behind it all") and "A Matter of Survival," by David Wallace ("As Ford and other major automakers look to the future of the global economy and try to produce cars that will satisfy consumers across the world, their push for standardization has touched off a consolidation among its suppliers. How will this affect the $500 billion a year U.S. supply chain, where companies are moving quickly to get in line with Detroit's strategy?").

Although not particularly analytical, World Trade is worth reading for its excellent coverage of international trade news and business trade concepts.

No discussion should take place about "trade" without referring to exporting and importing of course. The Department of Commerce provides one of the best books available on the subject: A Basic Guide to Exporting, (World Trade Press, Worldpress@aol.com ISBN 1-885073-42-9).Order it at: USA Order Line (800)833-8586. The Table of Contents includes such items as: Export Strategy, Export Advice, Market Research, Methods of Exporting and Channels of Distribution, Preparing Products for Export, Service Exports, Making Contacts, Business Travel Abroad, Selling Overseas, Pricing (Quotations and Terms), Export Regulations, Documentation, Methods of Payment, Financing, After-Sales Service and other equally valuable subjects. Appendix II: Directory of Federal Export Assistance is particularly useful because of the agencies available for assistance, their telephone numbers and e-mail addresses. This is an excellent book and highly recommended for those considering either exporting or importing or both... (See also Chapter 19: Exporter's Encyclopedia.)

Another publication that deals directly with trade is Joseph Zodl's Export-Import (ISBN 1-55870-388-8); call F&W Publications, Inc., at (800) 289-0963. Zodl wrote this book with the intention of giving you many of the answers you need to enter into international trade and pointing out other knowledgeable sources for other answers. The book is geared to the small- to medium-sized company wanting to get involved in exporting or importing products right away with a minimum of complications.

Zodl is a veteran exporter and importer who makes getting started in the export-import business easy, or at least easy to understand. He shows how you can guide your company into international trade and minimize complications. You'll get current information on trade laws. In addition you can see many examples of trade documents such as sight drafts and letters of transmittal. Coverage of many practical aspects of international trading are cited in the book, for example (by chapter):

  1. Why You Should Be Exporting or Importing.
  2. Risks and Rewards of International Trade.
  3. Finding Markets for Products Abroad.
  4. Finding Sources for Products Abroad.
  5. Where to Go for Help.
  6. Terms of Sale.
  7. The Pro Forma Invoice.
  8. Ins and Outs of Getting Paid.
  9. Documentation.
  10. Transportation Rates.
  11. Alternative Concepts for Export-Import.
  12. Planning Ahead for Import.
  13. Meeting Customs Laws and Regulations.
  14. Glossary, Resources, and Index.

Something to Do

Can you draft a letter of credit? If not, it could be worth your while to visit a local bank to see if it has examples, and if it could spend some time explaining how it uses the letters of credit.




World Trade
www.worldtrademag.com
wtedit@aol.com

World Trade

World Trade

Monthly publication
World Trade
For more information, call
(714) 798-3500
Phone: (714) 798-3501