In 2016, the U.S. Commercial Service sponsored over 10 trade missions for U.S. companies. These organized trade missions are a great opportunity for U.S. businesses looking to sell their products or services to overseas markets, especially small businesses that haven’t exported before and have limited time and resources. The ability to lean on the U.S. Commercial Service’s network and foreign industry knowledge helps companies quickly jumpstart their exporting process.
Below are five reasons why all U.S. companies should join trade missions:
- Meet with High-Ranking Officials
Government hosted trade missions allow companies participating in trade missions to meet with senior level government officials both domestically and on foreign soil, including officials who work in relevant industry ministries.
- Meet with Other U.S. Companies with Similar Interests
The ability to meet with other U.S. company executives who participate in the same trade mission allows for information sharing due to similar interests in the same market and distribution routes.
- Receive Market Briefings
During the trade mission, participants may receive market briefings from local industry experts, government officials, law enforcement, etc., to gain a better understanding of “how to do business” in that particular country. At times, market briefings are then followed by site visits to key projects.
- Meet with Potential Foreign Buyers
The U.S. Commercial Service has a vast network of foreign buyers, distributors and agents and they will help to set up appointments with potential buyers.
- Access to Media Coverage & Networking Events
Companies may be invited to networking receptions or events with high-level officials and foreign buyers which allow for further relationship development.
Click here to see if your small business might benefit from 2017 trade missions. Examples include a trade mission to Canada in the Cyber industry and Saudi Arabia/UAE in the Power Technologies industry.
Learn How EXIM Can Support Your Trade Mission Deals!
We can help your small business close more deals during the trade mission with export credit insurance. Not only can you negotiate open account payment terms with potential buyers, you can vet the foreign buyers for financial good standing. To learn more about what EXIM offers, request a consultation here to speak to your local EXIM representative.