Transcript Slide 1
CONTACT INFORMATION
• Jenee Andreev
International Trade Manager
Northern Virginia Office; Tysons Corner
[email protected]
Cell: 703-424-3887
VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP
DIVISION OF INTERNATIONAL TRADE
Winner of the President’s “E-Star” Award
Delivering Virginia’s Products and Services to the World
• Since post-9/11 recession, VA merchandise exports
have increased 56%
• 95 % of world’s consumers live outside the US
• The 2010 value of VA merchandise exports is at its
highest level in history - $16.88 billion.
• From 2006-2012, VA’s merchandise exports
increased at the fastest rate in history – 19.2%
• Increased need for diversification in times of global
recessions
U.S. & Virginia Growth (2003 – 2007)
20
18
16
14
% Growth
12
U.S. GDP % Growth
10
VA GDP % Growth
8
VA Export % Growth
6
U.S. & VA 2007
Consensus Forecasts
4
2
0
2003
2004
2005
2006
2007
Historical Data: U.S. Bureau of Economic Analysis
World Trade Atlas. U.S. State Export Edition. Annual 2007. Global Trade Information Services.
Virginia Exports 2002 - 2007
Total Exports ‘07: $23.4 Billion
Goods:
-Manufactured:
-Tobacco, coal
& agriculture
$16.9 Billion
($13.6 Billion)
Services:
$ 6.5 Billion
(from a 2004 data study)
($3.3 Billion)
Virginia’s Export Partners
Virginia’s Top Merchandise Export Markets 2007
Rank
Country
Total to World
US$ Millions
16,885
% Change
+ 19.72
1
2
3
Canada
China
United
Kingdom
Germany
Portugal
Singapore
Japan
Mexico
Brazil
Taiwan
2,729
1,104
1,099
+3.55
+17.11
+35.82
962
897
823
784
616
528
504
-39.42
+344.06
+50.66
-4.54
+26.58
+28.11
+231.26
4
5
6
7
8
9
10
International Trade Offices
Our Services & Programs
•
Local trade counseling from seven
Trade Managers with internationla
business experience across Virginia
•
Accelerated international sales
via Virginia Leaders In Export
Trade (VALET) Grant Program
•
In-country, market research in 50
countries via Virginia’s Global
Network including partner
identification, market entry
strategies, and vetting
•
Special Resources
•
Matchmaking via global Trade
Missions (roughly 10 per year)
•
Host of annual Virginia Conference
on World Trade
– In-house, Custom, tailored
market macro-level research
– FastFacts on countries and
critical topics
– Beyond Virginia
– ExportVirginia.org
– Beyond Virginia Calendar
HOW TO SELL OVERSEAS
• Directly to your clients/end-user
• Sales Representative: an agency in the US or in the
foreign country working on your behalf, usually
success-fee based
• Agent: a rep working on your behalf with some
authority to make decisions
• Distributor: an organization that buys from you at a
discount and resells
• JV/subsidiary legal entity in-country
FACTORS TO CONSIDER
•
•
•
•
•
•
•
Distance
Time
Language
Sales Cycle
Local Customer support
Client relationship development and management
Selling through an agent is always easier
HOW TO FIND A LOCAL PARTNER
• Online trade databases
• Via our consultants and foreign offices on the
ground
• Trade missions and trade shows
• Independent country visits
• MAKE SURE YOU DO DUE DILIGENCE ON YOUR
PARTNERS and limit exclusivity in a piecemeal
approach
FACTORS TO CONSIDER
• Make sure you know the local laws
• Evaluate partner’s technical and capabilities and
market share
• Understand the cultural differences, how they
translate into business decisions and cycles
• Be wary of competitive products
• Product promotion/advertising—roles?
• Geographical location—examine territory
assignment
NEXT STEPS
• VEDP International Trade will work with you through
the entire process to analyze where to look to sell
your products or services, and then work through a
logical, transparent process to find you the right
sales’ pathways that make sense for you.
• We take on the bulk of the work, risk, and costs, so
this is an excellent way to increase and diversify
your sales base while taking advantage of your tax
dollars
ANY QUESTIONS—MAKE AN APPOINTMENT!
• Jenee Andreev
International Trade Manager
Northern Virginia Office; Tysons Corner
[email protected]
Cell: 703-424-3887