How do you research a new import/export opportunity?

Market Data. Conduct research or identify relevant industry reports and trends. ... Competition Analysis. ... Existing customers. ... Talk to your future markets. ... Open Data. ... Legal environment. ... Customs duties. ... Export analysis.

If some country needs to import something it's a information that country can't produce a product, so they buy from other countries. If some country can export their product it's a piece of information that country has a very big ability to produce some product that is needed by other countries. So if you want to identify a new target you need to know the data about the commodity that is needed by some country, then you can continue to find who can sell/produce the commodity and find who needs the product.

The most important thing that need to prepare by the Importer, Exporter or Logistics Service provider is the knowlage about identification of Tariff Code / HS Code. Some or Many item in HS Code have special regulation to protect local industry and protect nature resource. So you can't buy or sell some stuf without knowing this HS Code systems, it will makes big problem while you execute the customs clearance activity, because if the Customs Officer notice your cargo have a special regulation you will get a big penalty or maybe your cargo will be detain until you get permits from authority/goverment. So please be carefull about classification systems. Different country Different regulation & culture.

In my experience, we need to order the mode and method base on the cargo quantity, if we have big cargo we can choose ocean freight and for the small cargo we can choose air freight, but all of these depend on your budget, so many logistics provider with different service quality so becareful about this.

Determine product classification. The HS code shall be harmonized at 1st 6 digits no matter where the product is declared. This is important to identify what the tariff destination country, permits requirement, facility granted to get duty concession or duty elimination. If HS code is non harmonised, should bear in mind what is required in order to enjoy benefit and what will be the action taken to align and avoid any disputes by customs upon clearance sucj as reclassification and ruling at country level.

One thing that often goes under the radar is the cultural context of doing business in your target market. It's not just about the numbers and legalities; understanding the local business etiquette, consumer behavior, and cultural nuances can make or break a deal. Are you aware of the holidays where business basically stops? Do you know the local customs for negotiations? It's smart to learn these aspects or even consult a local expert. You can't put a number on the value of understanding the culture, but trust me, it can be the difference between a fruitful relationship and a failed venture. #TheCargoBlog