Not since Ross Perot's famous "sucking sound" of yore has trade been so important, yet so roundly ignored -- at least by most Americans. Billions of dollars in trade deals have been signed since NAFTA, and the World Trade Organization (WTO) has welcomed some major new countries, like China and Russia, to the fold.
The WTO is more than another global backslapping club; its members essentially agree to wrangle out their economic differences in a public forum under agreed-upon -- and equally applied -- rules. That can mean plenty of new foreign business opportunities to companies that pay attention.
Here are some resources for getting a grip on where your business fits into the new global business scheme.
Start at the top of the heap
The U.S Trade Representative is the chief negotiator for all foreign trade agreements between the United States and the rest of the world.
I recommend: See the list of
current deals, including specific bilateral deals that do not fall under general WTO or regional agreements, as well as its list of
current complete reports by year.
Export.gov has a somewhat less bureaucratic approach, as well a subsection of deals under negotiation, as does the
U.S. Foreign Agricultural Service and
BuyUSA.gov.
Leads! Leads! Leads!
Part of the problem in getting international business deals is knowing who wants to do business in the first place. The Internet has gone a long way toward solving that problem.
I recommend: The U.S. Commerce Department has a pay database of live trade leads calls
Globus and this database at
Export.gov. The
Federation of International Trade Associations runs a leads database. Some other active leads databases include
TradeZone,
Alibaba, and
TradeXPro.
Getting to market is a big part of the battle
So you have a potential partner in Lima who's just dying for a shipment of your product -- now. But how to get it there, past all those customers barriers and delays?
I recommend: Trade consultants are not hard to come by, but if you aren't ready to move containerloads just yet, perhaps a courier can help.
UPS,
FedEx,
DHL and a host of other global shippers have special programs for small exporters looking to get started.
Take advantage of government help
"I'm from the government and I'm here to help you" is an awful punchline, but in the case of building foreign trade, it's actually true.
I recommend: The U.S. Department of Commerce maintains a helpful and updated site on trade, through the
International Trade Administration. Part of the value is access to
trade missions, essentially junkets designed to connect your business to foreign opportunities. Also, you could seek advice from a state trade agency. Find yours
here.
Sell to foreign governments
One of the most overlooked, and lucrative, side effects of foreign trade deals has been the opening of government supply contracts to free (yet fair) foreign competition.
I recommend: The U.S. government's Trade Compliance Center tracks disputes, as well as maintaining a
list of foreign government procurement Web sites. Most work pretty much like Ebay. Qualify, bid, sell.