SECTOR FOCUS: INTERNATIONAL TRADE Importing from China


UK Side When importing from China, don’t make any assumptions or take shortcuts. Make sure that your specifications are crystal clear and that they are understood by your supplier. Agree, and record in the contract, any set-up costs and ownership of assets such as tooling. Include any UK/EU and industry standards you must meet and insist on certification - don’t forget to check with UK Customs about tariffs and potential restrictions/prohibitions.


‘Wherever


possible visit, audit and get to know your supplier’


China Side Check any new supplier out. The simplest way is to ask for references and check them. Make sure your suppliers have export licenses, or who their export agent will be. For significant contracts it will pay to conduct diligence. With new suppliers keep order quantities low until you have built up confidence. Always be realistic with quantities and predictions. Wherever possible visit, audit and get to know your supplier. This


may be difficult for small orders, but is essential for larger and extended contracts. Negotiate these contracts, with staged payments or letters of credit linked to inspection of goods. For small contracts you are likely to have to pay up-front, so keep the quantities low until you can negotiate more secure terms. Wherever practical, have the goods inspected, tested and any


certification checked - before payment or shipment. Do this yourself or use a professional third party. Importing from China can be effective in reducing costs and is


Jamie Shaw, China Business Adviser (South West) from the China-Britain Business Council gives his tips for Importing from China


Trading in Russia can reap rewards


By Linda Middleton-Jones, Managing Director International Marketing Strategy, Export Coach & Mentor, at International Trade Matters


Recently I attended a Russian British Chamber of Commerce event in London on behalf of Devon Chamber. Sergei Averin, the link between


Chambers of Commerce in our two countries extended an invitation to attend this annual prestigious event given the historical link between Plymouth and Novorossiysk. Some of you may know that a relationship has been developed over the past 50 years or so since the Foreign Office encouraged Plymouth to ‘twin’ with Novorossiysk, recognising the similarity in bravery, economy and geography. With more than 100 delegates


the event was heralded as a great success. RBCC Patron HRH Prince Michael of Kent opened the event, and keynote speakers included representatives from the RBCC, DIT and HE Dr Alexander Yakovenko, Ambassador of the Russian Federation to the UK. Whilst sanctions remain, the truth is that they account for a small part


of the mutual opportunities that exist. Virgil was one of the first to recognise that fortune favours the brave yet for the uninitiated, Russia is a challenge that may be a step too far. Admittedly we are a brave nation, one that used to buccaneer, be leaders on the world stage and respected for our very ‘Britishness’ but Brexit means that we are experiencing a brave new world. We need to identify new markets for our products and services. Whilst for many the mere mention


of Russia evokes a strong and negative emotion there is no doubt that, for those companies already engaged or based in the country, the rewards are significant. For pioneers the market is rewarding. International Trade Matters is taking the opportunity to organise a visit to Novorossiysk in the autumn.


For more details on the opportunities or to discuss participation please contact the RBCC via Ellie.davis@rbcc.com


July/August 2018 Chamber Profile 29


sometimes the only way to get a product. It can, however, be time- consuming. This is a risk, especially for a small or start-up business. Consider using a professional agent.


Visit: www.cbbc.org


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