Books

Winning back imports and exports

Rules and trade flows will inevitably change post Covid-19. Paul Frencxh has some useful primers to keep readers up to speed

For everyone in the shipping, transportation and logistics industry the catastrophic hit to global imports and exports of Covid-19 is both one of the most immediate fall outs and, quite possibly, one that will be most long-lasting. With talk of moving away manufacturing from China, relocating to multiple sources, quarantining goods, ships and crews coming in and out of different countries and territories it’s a whole new world for the import/ export game. And nobody is outside this dynamic – consider: every Chinese export requires at least one imported component, input or chemical. So let’s go back and rethink the import/export business from the ground up in the wake of Covid-19.

Going back to basics? Then perhaps start with Aralyn Kraft’s Export Compliance for Beginners. Perhaps most usefully it breaks down the language jargon of the import/export business - EAR or ITAR regulations? What is CCL, ECCN, Categories and Denied Persons Lists? What do USML and CCL dual-use mean? How to determine your product’s classification? It’s a minefield of acronyms and terminology you need to get a grip on.

Got to grips with the lingo? Or a more experienced import/exporter? Then perhaps Thomas Cook and Kelly Raia’s Mastering Import and Export Management is a good addition to your knowledge library. It’s a roadmap kind of book that helps you navigate pitfalls such as major regulatory changes (and there will be more of those coming down the pipe!) as well as new documentation, operations, and procedure. The book is particularly good on ship perishable freight and dealing efficiently with government agencies and oversight. Similarly (and don’t be put off by the title!) Import/Export for Dummies is a good source of information particularly if you are yourself, or are dealing with, small- to mid-sized businesses. Again a lot of rules are going to change over the coming months so being as up-to-date with the existing rules and regs is crucial to know what’s new, what’s now defunct and what you have to do to comply with post-Covid-19 changes.

Maybe with so many companies sadly going to the wall now might be the time for the brave to launch into the new world of super-regulated and cautious importing and exporting. Kenneth D. Weiss’s Building an Import/Export Business is full of real-life examples from importers and exporters starting with dealing with foreign currencies, shipping procedures, customs requirements, through to trade pacts, and online resources. They say fortune favours the brave so perhaps now is the time to get into the game.

And finally, for everyone, whatever your experience, Luis Mulet’s Export Best Kept Secrets: Figure Out The Best Way To Expand To New Markets And Help Your Business Become Better Equipped To Enter The Exciting Exporting World. Mulet’s book covers the Americas, Europe, Asia and Africa with contains tips covering export trade law, trade regulations and customs, market intelligence, trade opportunities assessments, and offshore company formation. ●

“Every Chinese export requires at least one imported component, input or chemical ”