World Business Exchange

The Import Export Resource for International Trade from Home

Issue: 21
     
     

WBE.Net Newsletter

Release Date: 4-9-08

Work Continues on New World Trade Center

Get ready for the new World Trade Center in New York City. This spring, the first visible signs of the reborn WTC will rise above street level in Lower Manhattan. The construction pit already reaches more than 80 feet into the ground and is now within several feet of the surface. The new Trade Center will include five towers, a major transit hub, and a memorial plaza with more than 400 trees. The project will be completed in about 4 1/2 years...but look for visible progress well before then. New York Port Authority Director Anthony Shorris says the project should be completed, in his words, "By the end of 2012. What is going into place is a construction-coordination machine of truly unprecedented complexity."

Bulk Lots Available for Traders
Here's a heads-up for WBE.Net traders:
West Coast Trading deals mostly in department store returns. It has direct contracts with major department stores and can supply a wide assortment of goods such as clothing, toys, general merchandise, tools, electronics and more. This company can be useful to exporters. It sells pallets, lots, and truck loads. Their claim: "With our large volumes of purchasing and sales, we benefit from significant savings which we pass on to our customers." To learn more click to westcoasttrading.com.

Words Can Make or Break the Deal

When you carry your message to the far ends of the world, it's important to remember that you'll need to be sensitive to the foreign languages you'll be dealing with, and to meanings that occur within small locations. More than a billion people are on the Internet, and about 7 out of 10 of them speak a language other than English. If you want to be successful in this multicultural environment, remember to do more than simply translate. The key to reaching distant folks and doing effective business with them involves being sensitive to the subtle social meanings in the various markets. In your exporting and importing efforts, use culturally adjusted imagery, appropriate inter-personal communications dynamics, and the right jargon or slang. Bottom line: this is another reason to work with a local trade agent who is familiar with the territory!

WBE.Net's Partner in Commerce Pays Tribute to Dr. King

US Secretary of Commerce Carlos Gutierrez went to Memphis to honor the memory of Dr. Martin Luther King, Jr., who was assassinated there 40 years ago. In his remarks, Mr. Gutierrez said, "Dr. King recognized the American Dream was not just about the absence of discrimination. It was about the spread of opportunity to every person in our country." The Commerce Secretary, a partner with the World Business Exchange Network, continued, "Dr. King's legacy lives. The principles for which he fought and died - freedom and social justice, regardless of race, creed, religion or color - are at the heart of our nation's strength and decency. He made America a better place, a more compassionate country. Dr. King had a vision for all to participate fully in society, to fully develop their minds, and to rise as far as their abilities and talents will take them. The more Americans are able to live that vision, the stronger our nation will become."

Trade Secrets

A trade secret is any info that lets you make money because it's not known by most people. This could include a formula, process, device, method, computer program, technique or customer list. Perhaps the best example of a trade secret is the formula for Coca-Cola. Only a few people know it, and it's kept in a vault in Atlanta. The people who know the secret formula have signed secrecy agreements. Trade-secret protection can last as long as the secret is kept - possibly much longer than patents.

Featured Article

The Dictionary of International Trade has undergone a major update and expansion. With many pages of additional content, the book is now one-third dictionary and two-thirds encyclopedia.
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A Short Course In International Negotiating

There is truth to the advantage that "you get what you negotiate." And while many business people are experts concerning their product or service, few take the time to learn basic negotiation skills.
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A Short Course In International Trade Documentation
 
Documentation, like payments, lies at the very heart of all international transactions. Documents are required for all import, export, and payment procedures. Knowing document requirements ahead of time saves time, money, and frustration..
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A Short Course In International Contracts

As the number and volume of international transactions has increased, the need for more formality in defining agreements has grown as well. Contracts provide the formal written understanding between parties to a transaction.
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