International Trade Blog

China is a major player in the global market and although it has not yet reached the development level of Western Europe countries and USA it still plays an important role in global market. Trading with Chinese can be a very profitable undertaking, but to succeed you must n\know at least a bit about their business traditions.

As most their business counterparts Chinese men prefer a conservative wardrobe with the appropriate colors. Women should stick to very conservative clothes as Chinese frown upon women who ‘’show too much’’. Jeans are allowed for both genders, but not for official business meeting. Avoid large hand gestures and if you must point to something use the palm of your hand. In general Chinese are not very keen on personal contact. Gifts are accepted, but you must be very careful what you present your partner with. One of the big no no’s is to gift a watch as it is connected with death and therefore should be avoided. Giving gifts to government officials is illegal and is viewed as attempted bribery. Chinese are very punctual so you should always arrive early for a business meeting. While it is very common in other countries do not discuss business affairs during a meal. Remember that Chinese prefer large quantity of small portions during a meal. Do not completely finish your meal or it may be translated that you did not receive enough food and are still hungry.

The general greeting is bowing, but there is a chance that you be offered a handshake. Always wait for your counterpart to offer it. Use formal introductions. Have several copies of all written documents. Chinese value rank and status very highly. The Chinese party will always be the first to leave the meeting. Although some Chinese speak English it would be wiser to use a translator as most Chinese people still do not understand English.

Granted it can be quite hard to successfully conduct business with the Chinese, but the reward can be very satisfying. Respect is a key part in every business deal.

What do you imagine when you think about Australians? A Paul Hogan look-alike cowboy type person with crocodile boots who only eats grilled food and calls everybody ‘’mate’’. I am sorry to disappoint, but you might be dead wrong.

I admit I had the same stereotype thinking when it came to Australians, but then I actually visited Australia and my preconceptions changed. The average Australian business person looks quite similar to their European and American counterparts. Men prefer conservative dark business suits, while women may wear a dress or a skirt and a blouse. Admitted Australians are somewhat more laid back and informal clothing is deemed appropriate at more informal business meetings. Despite their seemingly laid back attitude Australians value punctuality. Maintaining eye contact during business meetings is crucial. Gift giving is not appropriate in Australian business traditions as it may be confused with corruption. On the other hand if you have been invited to somebody’s home a small gift would be viewed as a token of appreciation.

As we all know Australia is an English speaking country so most business communication is done in English, but you must remember that Australia is a multi national country and a lot of people are of Asian origins. A handshake is the most commonly used method of greeting. Similar to Japan the exchange of business cards is quite widespread. In general Australians are very friendly and open people.

I do not know why, but sometimes we view Australians as simpletons and unimportant. We tend to forget that they have their own continent with a lot of natural resources and a huge industrial potential. The Australians in some ways have actually surpassed us, as they managed to out play the global economic crisis. Australia is currently one of the few countries where the impact of the crisis has been minimal. It means that they are quite efficient in business sphere and should be viewed as a major player in the global market. Use their strengths to your own advantage and maybe even become more like them.

I have always been very much intrigued by Brazil. I have read many books about it and imagined visions have always floated around in my mind. Sadly I still haven’t had the chance to visit this beautiful country. Maybe I should.

Brazil is the fifth largest country in the world and it covers a large part of South America. With a population of about 190 million people it is one of biggest nations in the world. The genetic background of the population is very diverse. Historically for a long time Brazil has been a target country for European emigrants and during the times of slavery a large number of black slaves were sold in Brazil. Today they are the ancestors of Brazilian nation. The climate and wildlife of Brazil is very variable. A part of Brazil is also the Amazon area which in general is called the ‘’lungs of earth’’. So Brazil is a vital part of the world.

Brazil has the largest national economy of the whole Latin America region. It has large and developed sectors in agriculture, industry and service. As it covers a large part of the continent Brazil has vast amount of natural resources which the successfully export. Currently Brazil undergoes a heavy investment phase meaning that its economy is viewed as developing and with a great potential. Of course Brazil also has experienced economic problems and in 2002 received a large monetary rescue package from International Monetary Fund. The loan was repaid in 2005. Due to the population levels Brazil also has a large labor force. The general prognosis for Brazil promises it a bright future.

Of course not all is that good and shiny. Despite the developing economy the poverty level is still quite high. Poverty on the other hand generates high crime levels and currently Brazil is not considered the safest place on Earth. Lot of robberies and kidnappings occur in Brazil and in most cases foreign visitors are the target audience. This fact can and probably is hurting the tourism sector of Brazil. But I imagine that as the economy grows so will the poverty levels decrease and with them also the crime levels.

Don’t be afraid of Brazil. Visit it, trade with it or invest in it. It can be the best thing for you to do. It is just another opportunity the life provides to you. What you do with that is solely your choice.

It is very important to know the correct business etiquette of your business counterpart. The Spaniards have quite a strong influence in world trade and the Spanish language is the second most used language in the world. So it would be considered quite wise to know a little bit of Spanish business etiquette.

First of all the business appearance of is more formal than in the rest of Europe and Spaniards prefer dark formal business suits, bright colors should be better avoided. Casual wardrobe during business meetings is not appropriate.

The Spaniards have nothing against English language and in general speak English, but it would be wise and good gesture to have a copy of all business papers in Spanish. One must remember that Spanish is a very widely used language.

Although their wardrobe might suggest that Spaniards are very punctual businessmen, it is actually the other way round. As a foreigner you should arrive on time, but do not expect your Spanish counterpart be there exactly on time. The same principle applies to deadlines; if the deadlines can be met that’s nice, but if they are missed Spaniards are not over concerned. Friendship is an important base for business in Spain. So you must be careful when dealing with the Spaniards not to offend them and ruin a beneficial friendship. Business meetings often take place in restaurants, but you must remember that in Spain most restaurants open only after 9 p.m. So prepare for a long night. Business meeting can be very vocal meaning more than one people speaking at the same time. Remember that the main religion of the Spanish is Catholicism so be very careful not to offend them by critiquing it. Close friend will often hug each other. Family is the most important thing in life for Spaniards so if you are not a close friend of the family do not bother them on holidays or at home.

The Spanish may appear very serious, but appearances can be very tricky because if you look closer the Spanish businessman is more relaxed and easy to conduct business with than their counterparts from rest of Europe. If you become friend with them you are almost sure to succeed in business in Spain.

USA is one of the largest and currently viewed as the most powerful country in the world. Although hit hard by the global economic crisis it is still very present in the global market. More often than not the counterpart in your business endeavors might be an American so it would be wise to know at least the basic principles of American business etiquette.
Although the population of USA consists of mix of people from various races and heritage and they have no real nationality, we can use the term ‘’Americans’’ Actually everybody already uses it and there are no misunderstandings so lets stick to this. More often than not when we think of an American businessman we imagine a cocky man with an leather jacket, cowboy hat and boots. Well this might apply to a businessman from Texas, but in general an average American businessman looks and acts like his European counterpart.
Americans also prefer dark business suits although also more relaxed attire is appropriate if the situation suits. In more rural areas an informal wardrobe is allowed. Nevertheless the wardrobe should be clean and neat. If the situation is appropriate men may wear jeans. Women prefer business dresses or maybe a skirt and a blouse.
In some countries gifts may be an ordinary part of a business encounter, but not so in the USA. A gift might be misconceived as a bribe and that could cause some serious implications. Business meetings can take place at a public establishment or during the meals, but more often than not during a meal a conversation is more of a social kind. Remember that USA has very strict laws about smoking in public places.
A firm handshake is an appropriate greeting. During conversations eye contact is vital. Smiling is conceived as a sign of friendliness so use it. An American businessman has a generally more relaxed style of communications. So business meetings are not so stiff as compared to West Europe. In general an American businessman is very friendly and more often than not will introduce you to his family which is not that common for businessmen from other countries.
No matter what is your viewpoint towards USA the general idea behind a successful business deal is respect! If you will respect your partner he will do the same to you and a successful business deal means more profit for both.

So Asia intrigues you and you would like to visit some of its countries, but you are afraid that the cultural barrier will be to high and you might, how to say it right, ‘’get lost in translation.’’ Well I might offer a solution – Singapore
Singapore is city state based on 63 islands and it is the smallest country in Asia. We might compare Singapore with Vatican City and Monaco, but only territory wise because it has a population of approximately 4.9 million. Quite a large number for a city state! Its economy is based on exporting improved imported goods. Singapore is also one of the Four Asian Tigers and has become one of the world’s leading financial centers. They understood that as a small country they have to find a certain niche to successfully compete in the international market.. In general they have a very highly educated labor force. Global economic crisis has hit Singapore very hard because of the decreased export levels worldwide. The standard of living in Singapore comparing with other Asian countries is very high. Continue reading »

Well USA has always been viewed as the Promised Land, as the land of unlimited opportunities where one can achieve anything. In general it is still true and currently we consider USA to be the most powerful country in the world. USA has a huge industrial base, massive landmass and Hollywood dominates the entertainment sector of the world. So can someone actually shake USA down from its top place? Continue reading »

UK has always been a major player in the international market. At one point in the history Great Britain came very close to the status of World Empire and they did not achieve this by only military power. Their most powerful weapon was probably the worldwide trade network. Although they lost their colonies and foreign territories, such as India, Pakistan and Australia, they still maintain important connections and English businessman are still influential.
Although UK is a part of European Union, the British themselves do not consider to be European because they have an island of their own and grand heritage. But English business traditions have greatly affected the business traditions of their European counterparts. We can go even one step further because English business traditions have affected business traditions in the whole world.

Continue reading »

We may consider China and India the leading players in south-east Asia, but lets not forget Indonesia. Indonesia offers various opportunities for profit both for exporters and importers. So lets take a closer look at Indonesia.

Indonesia is an island based country and consists of 17508 island, but only about 6000 of them are inhabited. Statistically Indonesia is the 16th largest country in the world with a population of more than 200 million. The main religion is Islamic and you should keep that in mind when conducting business in Indonesia. Indonesia is a democratic country which in general is a good idea, but at the same time it is a good soil for corruption and the level of corruption in Indonesia is one of the highest in south-east Asia. Continue reading »

Russia is truly the land of unlimited opportunities where with the right connection and decisions everyone can become a millionaire or even a billionaire. Well it may sound cheesy, but as they say in Russia everything is possible.

Russia is the largest country in the world as it covers two continents – Europe and Asia. Its has a very colourful historical background by being founded by Vikings, ruled by various tsars, the wrath of both World Wars and almost hundred year rule of communists. Today Russia is a democratic, yet very controversial country with a population of more than 140 million which is actually not that much considering the territory of Russia. Due to the large territory Russia has the biggest reserve of natural resources in the world including oil, natural gas, minerals and chemicals. Most of the Russian population live in the European part of Russia. Moscow is the capital of Russia with more than 10 million people calling it their home; it is also the largest city in Europe and 7th largest in the world. On the other the population in Siberia is very sparse with most population concentrated in the biggest cities such as Novosibirsk, Krasnoyarsk and Omsk. But Siberia is also the place with all the valuable resources and although the average wage in Russia is quite low, people who are willing to work in the harsh conditions receive a good salary. Continue reading »