INTERNATIONAL TRADE INTERNATIONAL TRADE HELPING COMPANIES EXPLOIT OVERSEAS TRADE OPPORTUNITIES
3.Always give and receive business cards with both hands, taking time to read the name on the card, and then place it on the table.
CHINA S
DOING BUSINESS IN… per cent per year. Aidene Walsh Firms still hungry
to trade overseas New research from NatWest and RBS indicates the key barrier to exporting is the fear of not getting paid for goods and services. With Europe as the UK’s primary export
destination, current economic uncertainty may leave hopes of an export led recovery in jeopardy. However despite fears of SMEs not receiving payments, over a third (35 per cent) of non-exporters are confident their products and services would sell abroad. The Eurozone crisis hasn’t stopped businesses looking at Asia and emerging markets as attractive options, with 47 per cent claiming they see opportunities in these regions. The key concern with trading in these markets is the lack of specialist knowledge.
‘Despite economic uncertainty, UK businesses are still hungry to trade overseas’
Understandably getting paid promptly is critical in today’s economic environment and maximising working capital is vital for all businesses, yet 52 per cent claim they are ill informed of funds available to support export. NatWest and RBS are providing a free half-
day consultation to advise exporters on various forms of payments available to them to successfully trade overseas. ‘Export 360’ will provide a comprehensive review of their business and assessment of their day-to-day international arrangements. Experts will provide bespoke insightful analysis of banking operations, and offer solutions that could help maximise exporting potential. Aidene Walsh, head of UK Global Transaction
Services, RBS, said: “Despite economic uncertainty, UK businesses are still hungry to trade overseas and 65 per cent of them feel it is vital to economic recovery. The lack of tools and knowledge are clearly a hindrance and we are here to help them to take a leap into the exporting market.”
28 CHAMBERLINK FEBRUARY 2012
Mandarin is the official spoken language of China, though Cantonese is spoken in the south of the country and the official currency of China is Yuan. Chinese culture revolves around four main principles.
• Guan xi (personal connections) This relates to the relationships of members of a group and results in an attitude that places great importance upon rank and hierarchy.
• Mian zi (face) Consideration is always given to ‘saving face’, which is an individual’s attempt to preserve the dignity of another and avoid embarrassment
• Li mao (manners) Relates to mian zi in that being polite and courteous saves face and maintains harmony
• Ke qi (guest behaviour) To be humble and modest, as well as polite.
Top tips for doing business in China: 1. Punctuality is vital at all times. Being late for an appointment may undermine the business deal.
2.Always wait for Chinese guests to leave a business meeting first.
4.Avoid using large hand gestures. If gesturing is necessary, never point using your index finger, instead use an open palm.
ince entering the World Trade Organisation, China’s economy has grown at an average of 9-10
5.When negotiating a deal, time spent together in a restaurant (and quite often a Karaoke bar) is very important. Many deals will not be closed before both parties have enjoyed some Chinese liquor, though business should not be discussed at meals.
6.When eating at a restaurant, as a gesture of courtesy never begin to eat or drink before the host, and always taste the food that you are offered.
7. Always speak to the most senior person present when negotiating a deal – this shows respect for the hierarchy.
8.Though it is illegal to give gifts to Government officials, the exchange of gifts within the business world is commonplace..
9.The most favourable gift is a banquet, though quality writing pens are also favoured. Give and accept gifts with both hands, and gifts are often received in a very reserved manner. It is common for a gift to be refused three times so as not to appear greedy, in which case the giver is expected to graciously persist until the recipient accepts.
in Mandarin is ‘Xie xie’ (pronounced shyeh- shyeh).
10. When gift-wrapping, the colour red represents luck and good fortune while pink and yellow represent happiness. Black and white should be avoided as they are negatively associated with death and funerals.
Nick Baird visits the ITPC
Exporters contribute 60 per cent of UK productivity growth and exports play a vital part in national prosperity, said Nick Baird, chief executive of UK Trade and Investment when he visited staff at the International Trade Promotion Centre (ITPC), based at the National Exhibition Centre in Birmingham. Victoria Prosser, events and marketing manager at ITPC, said Mr Baird was interested in discussing how UKTI benefits from the many meet the buyer events which the ITPC manages. She said: “Mr Baird understood the importance of how our service benefits UK companies through meetings which are pre-arranged between UK companies and visiting international buyers.”
Nick Baird with Victoria Prosser
Forthcoming events include the Latin American road show (20-24 February), Partnering with Middle East Businesses (5-7 March) and the Education Show (15-17 March). For details call Victoria Prosser on 0121 767 3244 or email:
victoria.prosser@
necgroup.co.uk
‘Thankyou’
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