Contacting Government Agencies About Foreign Trade

Part of the Video Series Foreign Trading Tips & Advice

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Video Transcript

Contacting Government Agencies About Foreign Trade
This is Nikolai Pankratz with American Resource Network, can't even pronounce my own company, for Expert Village. We've been talking to all the different government support that we can get from America to support your business in international trade. We talked about OPEC, Exen Bank, The World Bank, IFC, these are all organizations that you can read about the European banker for reconstruction and development, EBRD, short. What else, well, just mainly you have to research on your own, that will accommodate you in making your transaction as smooth as possible. Say for example, the State Department, actually very involved in that. Say we've picked, in the previous clips we've picked wood. Lumber. Among other things you can ship and have trade with anything, but say for example lumber. You probably would, to get going, you probably need to get in touch with the, with the USDA office or the state department, and the reason for that is, again, each transaction has is own rules, its own whatever, you have to get in touch and read up on that. But say lumber, lumber is very important because, chestnut for example in America, died out many years ago because of insects that ate up but whatever, it happened in America. The American government is trying to prevent that from happening so they have specific rules how you can import lumber or wood products to America. So basically what you have to do is contact them and get a license, import license, which I believe is for free, for wood, but there is some prices, very minimum. But the wood has to be dried to a specific temperature and the moisture content and so and so forth, so USD is one of them, so get in touch with your government and find out what you should do. You want to make sure that the container is not unloaded, and all your wood or whatever you bring to America, is going to be dumped into the ocean. So you want to make sure that you get actually what you paid for.

About the Expert

Expert: Nikolai Pankratz is a German born entrepreneur with an impressive background in music, international banking, and foreign trade. Read More

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