Export Import Business

By export import business, we mean buying and selling goods and services to and from one or many world countries, some having more advanced technology, others having lower costs. 

Global exports are related to the sales of goods and services to foreign countries and global imports are related to the purchases of goods and services from foreign countries. A global exchange between producers of manufactured goods and consumers of al kinds of goods. 

Global Trade Activities

It sounds simple but it's not for many reasons.

The export import business is a highly regulated process. If a company wishes to export its products to different countries, it needs to be aware of all the rules and regulations. Or, if a company wishes to buy products from other countries, there is also a wide range of laws, rights and regulations that must be known and applied.

For example, formal trade barriers such as tariff are often imposed to protect local businesses, while informal trade barriers such as quotas restrict the number of products imported during long or short periods of time. 

Exporting our local products and services offers many opportunities along with many challenges such as finding the best sectors with the best opportunities.

Global Exports

Entreprises Québec offers help and advice as well as important information regarding the rights and obligations export companies need to know. 

To export a product or a service, an export company must obtain a Business Number (BN) and must open an import / export account with the Canada Revenue Agency.

An export company must conduct a market study, must identify the most suitable foreign markets for its products or services and must verify its right to ship to certain countries.  

Before exporting to foreign countries, an export company must verify its right to export commercial goods or services and must comply with the Canadian legislation and regulations.

All the goods intended to be sold outside Canada must be the subject of an export declaration with requirements that vary according to whether the goods are controlled, regulated, prohibited or unrestricted. 

Export declaration: any goods intended for sale outside Canada must be the subject of an export declaration.

The requirements of the federal government vary according to the type of goods, that is, whether they are controlled, regulated, prohibited or unrestricted. An export company that also have the obligation to comply with the reporting requirements applicable to the country of destination.

Classification of goods: When an export declaration is required, you must rank the goods by assigning them the appropriate export code.

Canadian Certificate of Origin: If you are exporting products under a free trade agreement, you must complete and sign a certificate of origin.

Also available is a Step-by-Step Guide to Exporting prepared by the Canadian Trade Commissioner Service. 

A Guide with insights from Canada's most comprehensive network of international trade professionals and commissioners located in more than 160 cities worldwide. 

Essential principles for export companies that are taking into consideration established markets such as the European Union or United States or new markets such as China, India, South Korea, Colombia or Brazil.

Finally, Export Development Canada - EDC has compiled, centralised and organised hundreds of Trade Links regarding competitive strategies, export opportunities, financing and more. 

Global Imports

As for how Global Imports, Canada Border Services Agency offers a Step-by-Step Guide to Importing Commercial Goods into Canada.

This guide provides you with an overview of the commercial importing process for businesses importing goods into Canada.

Some questions are standard to all small businesses, but importers need to inform themselves about a great many other questions pertaining to:

China is the largest export economy in the world, Germany is third, United Kingdom is 10th, Brazil is 21st, Japan is 4th and so on.

The Observatory of Economic Complexity, the OEC offers a fantastic tool "that allows users to quickly compose a visual narrative about countries and the products they exchange". Do take the time to explore this site and data, it's definitely more than worth it. 

Importing into canada http://www.international.gc.ca/controls-controles/about-a_propos/impor/canada.aspx?lang=eng

https://canadabusiness.ca/growing/exporting-and-importing/importing/before-importing/

http://www.revenuquebec.ca/en/entreprises/taxes/tpstvhtvq/casparticuliers/importation/default.aspx

Export Import Business and Global Markets

Country InfoOur regional representatives, located around the world, have developed strategic relationships with major customers in key sectors as well as an extensive network of local contacts in each regional market. Select a country or region and see how we can support your business.

A full 76% of Canada’s goods exports and 55% of service exports go to the United States, while only 7% of Canadian goods and services go to the European Union 

The bottom line?

Amid unsettling trade-talk, there is a glimmer of hope. Canada is, over time, turning more of its attention to smaller but faster-growing markets. And that trade is not just happening in a rudimentary way; activity through multiple means suggests a maturity that portends well for future activity

Export Import Business by Rachel Louise Barry