Starting today, EDC and FITT have launched their first collaborative online training product, a powerful tool for Canada’s next generation of trade leaders.

It’s called EDC-FITT International Trade Training – a digital platform that offers courses and workshops for exporters new to the game, thinking about getting into it or looking to deepen their expertise.

Back in October, EDC announced a five-year collaboration with the Forum for International Trade Training (FITT) with the goal of making international trade knowledge more accessible to professionals. EDC-FITT Training, now live and open for registration, is the first product of this partnership.

“Empowering global business professionals to be high performers through practical, industry standard-based training has long been one of FITT’s main missions,” says FITT President and CEO Caroline Tompkins. “EDC is a natural ally in building professional success in international markets. Teaming up with EDC to launch EDC-FITT International Trade Training is a wonderful opportunity to bring this world-leading training to more professionals.”

Online learning offers flexibility, allowing you to take the courses and workshops in any order and at any time that is convenient for you. The available course subjects accommodate all aspects of international business, teaching valuable, practical skills that can be used right away to advance careers and business success.

The EDC-FITT International Trade Training digital platform provides a new, easy-to-navigate place to take advantage of the complete FITTskills program. It will serve as a central hub for the latest training and resources for all global business professionals who want to be high performers and take their careers to new heights.

The post World-leading EDC-FITT International Trade Training launches today! appeared first on Trade Ready.

Particularly popular articles featured planning your market research and strategy, spotlights on some of the elite professionals who hold the CITP®|FIBP® designation, and the latest about FITT, the job market and international trade as a whole.

Whatever interests you most, we hope this gives you a chance to catch up on some of the most popular articles you may have missed, or re-read some favourites as we head into 2018.

10. 4 ways artificial intelligence is transforming trade

As the technology has matured, businesses in all industries are working hard to develop applications for AI that will boost their productivity and improve their operations.
And it’s no wonder why: a study by business research group Accenture found that artificial intelligence has the potential to double economic growth rates within the next 20 years, while increasing productivity by 40%.
The international trade sector has quickly caught on to the artificial intelligence trend. With so much data generated by companies, there is ample opportunity to improve trade processes with artificial intelligence.

9. Varun Anthony, CITP|FIBP – Agricultural Specialist

Varun Anthony is a pillar of patience. As he tells his clients, a dose of patience is what helps a brand successfully enter a potential international market.

Varun always wanted to pursue a career that was client-centric. At first he thought the hotel industry would provide the client-based work he was interested in. While the work was rewarding, Varun often found he had to be to be highly reactive. He wanted a career where he could be proactive and creative. This led Varun to start researching new career options, which led him to international trade.

8. Simplify your market entry strategy with this 9 step checklist

When developing a market-entry and maintenance strategy, a variety of other factors must be considered.

What method best suits your company’s product or service? What is the layout of existing distribution networks, and what forces drive them? What is the competition doing, and what can be improved? What does the market research indicate are the drivers of customer buying behaviour? What investment needs to be allocated, in both the short and long term? How will the strategy need to be modified as you (the exporter) progress through the market- development cycle?

Most importantly, what are the critical success factors that could determine the difference between success and failure in a target export market?

7. Shriya Ramachandran, CITP|FIBP – Trade Commissioner (Infrastructure)

Shriya Ramachandran entered the world of international trade as an environmental researcher, monitoring various aspects of climate policy that impacted local and global industries. Transitioning from that position into a career focused on international trade was a very natural process.

Shriya began working as a trade officer for Global Affairs Canada (formerly DFATD) in 2014. Before that, she worked at the Finnish Trade Office in India as the clean tech program head for over three years.

6. What types of data do you need for your market research?

Once you have the objectives for your market research established and the parameters specified, researchers can select which methods you will use to collect data, and there are a wide range of research options available

When researchers answer the important questions they face, it will help them identify the potential data sources for the research information and the methodologies needed to obtain the information. The sources and methodologies can then be compared to the budget and timelines to decide if they are suitable and achievable.

5. EDC and FITT Teaming up to Educate Canada’s Next Generation of Trade Leaders

Export Development Canada (EDC) and the Forum for International Trade Training (FITT) today announced a formalized partnership to deliver enhanced trade education to Canadian companies and trade professionals.

At the core of the partnership is the creation of the EDC-FITT International Trade Learning Centre (Centre) – a digital platform from which EDC and FITT will offer information, learning modules, and other knowledge-based resources focused on helping small- to medium-sized enterprises (SMEs) go, grow and succeed internationally. The Centre is expected to be fully operational in early 2018.

4. Top 5 fastest growing international trade jobs

Despite a certain amount of political and economic instability, global trade is a sector that will continue to create jobs. As the world gets smaller through technology, global connectivity brings with it endless opportunities for companies to do business in international markets.

Jobs that drive these international activities are growing, and therefore professionals who have international competencies will continue to be in high demand. Growing salaries often means qualified employees are in short supply.

While there is no shortage of positions available for the global business savvy professionals out there, we’ve identified the top five jobs that are growing in both demand for employees and salary.

3. The role of international organizations in international business law

As international trade has grown, so has the evidence of its benefits to both states and enterprises, the most obvious of which is economic gain. The more universal the market, the more freely trade flows, generating more economic resources for market growth, infrastructure, research and development, jobs, market and labour specialization, global, economic, and social stature.

Numerous guidelines, model laws, conventions, and treaties now exist to manage and govern international trade. Their goal is to open borders, modernize customary exchanges and reduce trade barriers around the world.

In an effort to realize these goals, a number of international organizations (IOs) have been established.

2. 10 global trade trends we’ll be watching in 2017

A new year means three things: lots of people are going to sign up for gym memberships they won’t use in three months, others will keep writing the wrong year on all their correspondence, and of course there are a plethora of new trends and predictions to look out for in the year ahead. We’re going to focus on the last of the three.

What should you have been looking out for or expecting in the international business world in 2017? Let’s take a look and see what was dominating the headlines you read over the past twelve months.

1. The 7 steps of a strategic procurement process

The procurement process can be a complicated one. Strategic procurement is an organization-wide process. It requires input from all departments and functional areas for an organization. Organizations should set up a strategic procurement team. This team sets the overall direction for procurement, aligned with the business strategy. The team will then use the data from the strategic procurement process to develop and implement a strategic procurement plan.

Here are the 7 steps that lead to a successful procurement process.

The post Top 10 most popular global trade articles from 2017 appeared first on Trade Ready.

ECAs are acknowledged to be important contributors, often highly expert, to the enabling of international trade. ECAs are a key resource to gather information on countries, industries, markets of opportunities as well as challenges around the world.

The role of ECAs, and the respective services offered, help companies grow their sales volume on the international market while making sure to manage the risks it takes when entering the international market. Furthermore, ECAs provide opportunities to collaborate with market players and to facilitate growth in exports.

How export credit agencies have evolved

Since their origins in post-war Europe, export credit agencies (ECA) have evolved from relatively straightforward government agencies with mandates that were primarily driven by public policy, to entities critical to the conduct of international trade across the globe.

There are a variety of ECA models in existence to meet the evolving needs and expectations of the international business community, including the government lender of last resort model to quasi-commercial agencies and those that are partly privatized.

ECAs offer a variety of products and services and are involved in supporting the full range of trade and commercial transactions—from short-term commodity exports to long-term capital projects and project finance.

Export credit insurers have historically focused primarily on supporting deals involving companies or banks from their home markets. However, this has changed in the last decade in that export credit insurers have, within their mandate, been providing financing to foreign affiliates of home companies while also providing financing to foreign buyers of home products and services.

Indeed, it is increasingly common to see banks supporting exports from one country while seeking export credit agency support from another country.

This occurs for a variety of reasons, from competition on pricing to the availability of different solutions (and/or different pricing) at various ECAs. This trend is commonly seen in large multi-million dollar infrastructure projects led by conglomerates when any one ECA and/or bank is unable to provide the required financing.

Furthermore, by diversifying the sources of financing, these conglomerates benefit from an increase in knowledge, variety of products and services, and risk diversification.

Certain agencies may have particular experience in, or insight about, some countries or markets that allow the ECAs to provide support or insurance in those markets, while other agencies may perceive the risk in that same market as unacceptably high.

Export credit insurance and guarantees and export finance solutions are offered by public, private and hybrid agencies.

Want to learn more about risk mitigation options? Check out the FITTskills International Trade Finance online course.

What’s the difference between private and public sector export credit agencies?

The private sector export credit agencies (ECAs) have been strong in many parts of Europe, and are emerging as a viable option in Canada, the United States and elsewhere.

Most commonly, export credit guarantors and insurers from the private sector are, or are affiliated with, commercial general insurers, but have highly specialized skills in areas related to international trade.

The leading private sector providers today include Atradius of the Netherlands, Coface of France, and Euler Hermes of Germany. Major risk insurers generate annual revenues of several billion dollars.

Many public sector export credit agencies (ECAs) are governed by legislation that defines their raison d’être, the details of the mandate and the oversight framework to which the ECA is subject.

It is not uncommon for public sector agencies to be subject to periodic legislative review, as is the case with Export Development Canada and with the Export Finance and Insurance Corporation (EFIC) of Australia.

Similarly, the Export-Import Bank of the United States (Ex-Im Bank) is subject to congressional oversight in terms of its mandate, competitiveness, activities and financial support or appropriations.

In addition to ongoing reviews by national government authorities, ECAs and their activities are closely scrutinized under the increasingly rules-based trading system, and are subject to regulations set by the World Trade Organization. This is because ECAs have grown to play a major role in supporting companies resulting in a material impact on international trade.

Why export credit agencies need different models to meet the needs around them

While there are certainly recognized best practices related to the business of export credits and export insurance, there is no such thing as the ideal export credit agency (ECA) model or the ultimate ECA to which all others should aspire.

ECAs evolve very much in context, and as a direct result of the specific needs and characteristics of their primary market.

The spectrum of options includes ECAs that are primarily driven by public-policy objectives and those that are mandated to operate largely on self-funding, commercial terms.

Certain ECAs are driven primarily by public-policy mandates and are, accordingly, funded by their national governments. These agencies are often lenders of last resort, and may focus on providing a combination of risk insurance, guarantees and financing.

Public policy objectives may be as focused and straightforward as the stated objective of promoting and enabling exports, or they may relate to requiring a level of national content in exported goods as a proxy for assuring that some national benefit accrues as a result of the publicly supported and funded export activity.

Public policy objectives may also extend into market development, international development and aid, as well as other areas where the support of trade may be an important enabler—regardless of whether it is commercially viable.

Certain ECAs such as the Export-Import Bank of the United States (Ex-Im Bank) are expressly forbidden as a matter of policy from competing with private sector providers. Unlike other agencies, the Ex-Im Bank must proactively exit or cease certain activities, including direct lending, when it becomes apparent that a private sector provider is prepared to engage in those activities.

Understanding hybrid models and the changing mandates of export credit agencies

Other ECAs are driven by a mandate that combines an element of both public policy and commercial viability, resulting in a type of hybrid model.

For example, Export Development Canada (EDC), the export credit agency of Canada, is fully self-funded and operates much like a commercial operation. At the same time, EDC remains a Crown corporation, and is often a supporter or instrument of public policy, as required by the EDC Act and the regulations that support the Act.

It is worth noting that EDC operates generally on commercial principles but can secure financing at favourable rates because of its status as a Crown corporation, which effectively means that it is treated by the market as sovereign or government risk, not as commercial risk. In many international transactions, this allows EDC to assist exporters with government bids.

Some ECAs have been restructured such that the short-term insurance side of the business has been privatized and separated from the export finance component. While most ECAs continue to focus on country and bank risk, a recent evolution in the industry is that ECAs are beginning to underwrite corporate risk, such as Export Risk Guarantee (ERG) of Switzerland.

Similarly, ECAs are taking a much broader view of their role and mandate and are shifting away from narrow definitions, such as ensuring minimum levels of national content in exports to targeting activities that generate national benefit.

Just like other providers of services related to international trade, such as trade finance banks, ECAs face significant challenges in terms of the organizational scale and geographic scope required to maintain operations. This is particularly true if these operations are required, based on the mandate of a given ECA, to be financially viable and self-sustaining (recall that not all ECAs are held to a standard of financial viability).

At the highest level, the wide range and variety of ECA models and modes of operation provide exporters and importers with a variety of financing, insurance and guarantee options suited to a wide range of transactions across the globe. Equally true, however, is that the variety of models, objectives and mandates complicates the process of aligning ECA standards through vehicles such as the OECD arrangement and others.

The objective of levelling the playing field in international trade becomes difficult in proportion to the variety of models that exist and evolve relative to ECA operations.

The post What are export credit agencies and what role do they play in international trade? appeared first on Trade Ready.

(OTTAWA) – October 3, 2017

Export Development Canada (EDC) and the Forum for International Trade Training (FITT) today announced a formalized partnership to deliver enhanced trade education to Canadian companies and trade professionals.

At the core of the partnership is the creation of the EDC-FITT International Trade Learning Centre (Centre) – a digital platform from which EDC and FITT will offer information, learning modules, and other knowledge-based resources focused on helping small- to medium-sized enterprises (SMEs) go, grow and succeed internationally. The Centre is expected to be fully operational in early 2018.

“By partnering with FITT to educate more Canadians about international trade, we’re strengthening Canada’s trade ecosystem and helping to build this country’s next generation of trade leaders,” said Mairead Lavery, Senior Vice-President, Business Development, EDC.

“We hear from exporters all the time that knowledge is one of the most important tools for building international success, so this initiative is really about EDC adding value to the knowledge resources that FITT has already built, and making these more broadly accessible and relevant to the needs of Canadian companies engaged in trade.”

Since 1992, FITT has educated Canadians on trade and continuously improved the delivery and quality of their services. For more than 70 years, EDC has served as Canada’s export credit agency and accumulated considerable experience and expertise in the world of trade finance. The expanded partnership with FITT creates a new channel for EDC to share its real-time, practical experience of trading internationally with Canadian companies and the trade professionals who support them.

“The EDC-FITT Centre will expand the available sources of credible and relevant international trade knowledge to ensure businesses have the information needed to maximize opportunities in international trade,” said Caroline Tompkins, President and CEO of FITT. “This partnership with EDC is about boosting Canada’s proficiency in trade to a new level.”

The official announcement of the partnership was made at FITT’s international business conference, Your Future in Global Markets, which marked FITT’s 25-year anniversary.

To learn more about FITT or to sign up for trade training, please visit FITT’s website.

About FITT

FITT is Canada’s National Standards, Certification and Training Body for international trade practitioners. A world-recognized not-for-profit leader in building international business competence, FITT sets the standards and designs the training programs for the Certified International Trade Professional (CITP) designation. Centered on international trade best practices and delivered by a broad network of educational partners, and online, FITT’s quality training programs impart knowledge and practical skills that trade practitioners can apply immediately – providing a competitive advantage and elevating their position in global markets.

About EDC

EDC helps Canadian companies go, grow, and succeed in their international business. As a financial Crown corporation, EDC provides financing, insurance, bonding, trade knowledge, and matchmaking connections to help Canadian companies sell and invest abroad. EDC can also provide financial solutions to foreign buyers to facilitate and grow purchases from Canadian companies.

For more information about how we can help your company, call us at
1-888-434-8508 or visit www.edc.ca.

The post EDC and FITT Teaming up to Educate Canada’s Next Generation of Trade Leaders appeared first on Trade Ready.

Representing the bright future of trade as Student of the Year

Satyajeet Kumar, Discovery Community College

The 2016 winner of the FITT-EDC Student of the Year award was presented to Satyajeet Kumar, a graduate of the International Trade Management program at Discovery Community College in British Colombia.

Satayjeet was awarded Student of the Year because he attained the highest-grade point average after completing all eight FITTskills courses.

The award was presented by staff from FITT’s strategic partner, Export Development Canada (EDC), who are thrilled with Satyajeet’s achievement.

“EDC is honoured to present the 2016 Student of the Year award to Satyajeet Kumar,” said Catherine Decaire, Senior Vice President of Corporate Affairs for EDC.

“Satyajeet represents the bright future of international trade. Through his hard-work and determination, Satyajeet has shown he will go above and beyond to succeed. We whole-heartedly congratulate Satyajeet on his achievement.”

Satyajeet’s program coordinator at Discovery College, Fouad Menassa, was equally proud of his accolades.

“Discovery College and the International Trade Management program are proud of Satyajeet’s achievement. Following his enrollment into the program, Satyajeet proved he was an attentive and excellent student. We wish him success in the future.”

Receiving this prestigious recognition was something Satyajeet couldn’t wait to share with his family.

When I received the mail from FITT about Student of the Year, I was so surprised and was so happy because I was not expecting it. It was a proud moment for me, being able to say I am the Student of the Year. It really does make me and my family proud.

As he prepares for his future career, Satyajeet wants to use his skills to help members of his community live better lives.

“My career goal is to invest my time into setting up an IT infrastructure in the Canadian healthcare system, so I can help improve my community members’ lives.”

Exceptional plan to expand an audio company wins the International Marketing Plan Award

Russell Leith Yearwood, Vancouver Career College  

The International Marketing Plan award is given to the student who attains the highest grade for a completed marketing plan for the FITTskills International Marketing course. This year’s International Marketing Plan award winner is Russell Leith Yearwood from Vancouver Career College.

Russell’s project was a Trade Management Report, in which Russell created a foreign market expansion plan for a fictional company. Russell outlined how Zexer Audio, the fictional audio technology company Russell created, could expand their business into the U.S. market.

The assignment earned a grade of 98%, the highest in his cohort.

Irene Jeremic, head of International Business and Law Lecturer at Vancouver Career College, was highly impressed by her student’s achievement.

“The award is very humbling and our college is grateful for being able to change lives through education. The recognition not only validates our approach to learning through engagement and empowerment, but it also crowns Russell’s hard work at the college.”

Moving forward, Russell plans to keep busy, learning as much about international trade as he can.

“I am aiming to increase my knowledge in finance, gain further work experience in global investments, and then I aim to help foreign entrepreneurs invest and expand into Canada.”

International Business Plan Award winner stands out with baseball bat exports

James Amelotte, Algonquin College

The International Business Plan award is given to the student who has received the highest grade for submitting a completed business plan for the International Trade Management course in the 2016 academic year.

The winner of the International Business Plan award was James Amelotte from Algonquin College.

Norman Hotchkiss, program coordinator for the International Business Management program at Algonquin College, was proud of his student, but not surprised to hear of James’ achievement.

“It is fitting James won the Business Plan Award. As a baseball pitcher, he actually knows how to throw different pitches to different batters and is very familiar with targeting those pitches. Both are useful skills in writing a business plan, but it was his commitment to learning and improving that ultimately created his winning plan.”

Contrary to his professor’s reaction, James was in shock when he learned that he had won this award.

“When I first heard I had won the award, I was in disbelief. But now, after some time, I can truly say I am proud and honoured to be the recipient of this award after knowing how much time and effort had gone into the completion of my business plan.”

James developed a business plan focusing on exporting wooden baseball bats to the market of Venezuela. He chose Venezuela as his target market because of their professional baseball league and their geographical location in South America.

James plans to use his award as proof of his hard work and abilities as an international business professional. His ultimate goal is to secure a position with an international organization, which would allow him to work with people from all over the world.

FITT Achievement Award goes to talented student working to help Syrian refugees

Maysa Balout, Fanshawe College

The FITT Achievement Award is presented to the student who has shown a combination of community involvement and academic success. Selected by the awards committee, nominees are put forward by either themselves or their peers.

The FITT Achievement for 2016 was awarded to Maysa Balout from Fanshawe College. Maysa has gone above and beyond in her studies and to help her community.

Albert Knab, former coordinator of the International Business Management program at Fanshawe College, spoke highly of Maysa and her hard-work.

“Fanshawe College is very proud to consider Maysa Balout one of their alumni. It is no surprise Maysa’s professional and business skills are as outstanding as her academic performance. While studying at Fanshawe, she maintained a perfect GPA, worked with the Supply Chain Association, as well as volunteered with the London Muslim Mosque to help settle Syrian refugees into the community.”

“I am truly honoured and grateful for the award. I have gained additional confidence and speaking points to add to my resume, which is always a nice bonus!” Maysa says.

Moving forward, she sees the FITT Achievement Award being a great feather in her cap when job hunting and networking.

This award will be such an influential speaking point when going for interviews or business conferences. It will help advance me in my career by showing people I am serious about international trade.

Maysa was chosen, in part, due to her community work helping Syrian refugees establish themselves in her city.

“When the influx of refugees began, London, Ontario received a lot of them. I collected donations of clothes from friends and family and drove them to the donation centre for distribution to refugee families.”

Maysa’s dedication, to both her education and her community, is unique and balancing the two can be very difficult in a demanding academic year. Her ability to do just that made her the ideal winner of this year’s FITT Achievement award.

Congratulations to all of this years’ FITT Educational Award winners! We look forward to seeing you take the world of international trade by storm.

Please feel free to congratulate the winners and offer any helpful advice in the comments down below.

The post Tomorrow’s business leaders are achieving great things today! The 2016 FITT Educational Awards winners! appeared first on Trade Ready.

As any experienced international trade professional can tell you, doing business in global markets isn’t without its trade finance challenges.

Breaking into a new market often involves a significant investment upfront, and keeping track of currency fluctuations can be an ongoing concern once you do. On top of that, it’s not always easy to secure payment, and chasing down money owed to you or your business can be a real hassle.

With these trade finance challenges in mind, here’s some advice from case studies from the FITTskills International Trade Finance course that will help smooth the path towards success.

1. How do I choose the right bank or financial institution to help finance my international business?

The thought of taking out a sizable loan or financing plan can cause trepidation. Fortunately, taking the right steps before money ever changes hands to select a financial partner you trust and will offer you what you need should alleviate many of your concerns.

Like many aspects of exporting and importing, thorough research of several options is necessary. It’s OK to have a preferred option in mind, but make sure you’re not missing opportunities elsewhere that could benefit your business in the long run. Thoroughly investigate and compare each option before you even make an initial appointment, and understand the costs, benefits, and disadvantages of each option.

Having trouble deciding which options to focus on? Referrals are one excellent option.

If a bank or financial institution has worked well for similar companies you know, it could be a strong option to start your search.

Government-supported options are also excellent places to look for financing. In Canada, organizations such as Export Development Canada (EDC) and the Business Development Bank of Canada (BDC) are well equipped to help you with trade finance challenges, while American companies can look at the U.S. Export-Import Bank and the U.S. Small Business Administration.

2. How can I minimize risk related to fluctuations in foreign currency?

While a change in the exchange rate could potentially reduce costs, it’s the opposite situation where a change increases costs that can keep finance professionals up at night.

One solution could be to write a fixed rate of exchange directly into a contract, along with the price, date and quantity of an order. This type of contract is known as a forward foreign exchange contract. While this forces you to forego any potential benefits of a changing exchange rate, the stability reduces risk and makes it easier to budget within a larger financial plan.

Another option is to negotiate to have the prices set in your domestic currency, meaning any risk then falls on your buyer or supplier who uses a different currency, rather than your business. Different businesses may value using their own currency, so make sure you know how much such a concession would be worth to your business, and what you may be willing to give in order to assure your needs are met in your contract.

Potential exchange rate fluctuations could also be used as a factor when negotiating the overall price. A buyer may be able to use intense fluctuations as part of a strategy to negotiate a lower price, while a seller may use a stable rate to negotiate a higher price.

In some situations, a company may want to purchase an option from a bank or other financial institution, a specific agreement to allow you or your company buy or sell a certain currency at a fixed exchange rate by a specific date. Another similar option would be to sign a futures contract, fixing a rate to exchange one currency for another with a specific bank or institution for a certain date.

3. How can I make sure I receive payments, and don’t have to chase debtors around the world?

It’s bad enough trying to chase someone down who owes you something back in an everyday context, like books they borrowed or their share of a restaurant tab.

Just think of how those issues would become exponentially more complicated when you’re chasing down another person or business in another country, who owes significantly more money.

A debt collection agency can be used if needed, but results cannot be guaranteed and a portion of the reclaimed amount will then be owed to the agency, reducing the amount your business will receive in total.

Receiving some of the money owed to you is certainly better than none, but whenever possible take steps up front to ensure full payment will be made.

While not always an option, the most fail-proof way to ensure you get paid is to guarantee payment from a third party through a confirmed letter of credit or export credit insurance. This way, payment is guaranteed to the seller, even if the buyer is unable to make the full payment, as is the funds will be backed by the bank or agency.

A company can also request full prepayment before delivery when there is a perceived risk of non-payment. It is also possible to negotiate to receive money in installments based on specific actions if concerns about the buyer’s immediate cash flow are part of the discussion.

The post Overcome 3 of the biggest trade finance challenges with these tips appeared first on Trade Ready.

Tanita Alexandridis, CITP has something in common with many of the people who choose a career in international business – she has had a passion for world cultures and languages from a young age. This passion inspired her to pursue an education in International Management at McGill University in Montreal, which included a semester abroad at the University of Lausanne in Switzerland.

After completing her studies in 2012, it was clear to her where she wanted to take the first steps in her international career.

“With a Bachelor of Commerce degree in hand, I moved back to Ottawa and I knew Export Development Canada (EDC) was the place I wanted to be! I have been at EDC for four years now, and am really enjoying working for Canadian exporters.”

She began her career with EDC in December 2012 on the Light Manufacturing Sector Team, helping to develop EDC’s business in the life sciences, plastics, and packaging industries, and connecting Canadian exporters in those industries to international opportunities. In 2015 Tanita began taking FITTskills training, starting with the International Trade Finance course and in February 2016 she was promoted to Sr. Associate, Advisory Services.

Export knowledge is power

On EDC’s Advisory Services team, Tanita directs Canadian companies to the wealth of resources and services that exist to help them gather market intelligence, enter their target markets, and mitigate some of the risks of exporting.

There’s a big world out there, and my role is to connect companies to credible sources and reliable partners who can help them make sense of it all.

“My typical day involves receiving inquiries from our customer-facing staff with questions from clients that are not related to EDC’s insurance or financing solutions, but rather to their export strategies or certain challenges they may be facing abroad.”

This involves conducting research to find the right contacts and resources for them – whether from the Trade Commissioner Service, other federal and provincial government partners, or private sector service providers. Tanita then gathers the relevant information into an email package for her colleagues to share with their clients.

“The idea is to arm exporters with knowledge and help them tap into resources that they may not have been aware of previously.”

Learning how to tackle exporters’ every day challenges

Advising clients on their export plans is a big responsibility, requiring comprehensive knowledge of the global trade environment and the opportunities and challenges exporters face. Getting the industry-backed training to build that high level of expertise and establish trust and credibility with her clients is an important part of that responsibility. Tanita completed the FITTskills program over the course of 2016.

The FITTskills program was a great way to supplement my university education with practical content that is relevant to exporters’ everyday challenges. I’ve referred back to my FITTskills textbooks multiple times to answer questions on international logistics or legal and contract issues.

“The courses provide a great framework for understanding how, for example, marine insurance or licensing agreements would typically work in international markets. Once you know those general principles it’s much easier to find information specific to a certain country.”

Tanita faces new challenges every day in her work that serve as both an opportunity for her to make use of her knowledge and experience, and a way for her to grow as a global trade professional.

“Every day I get a bit more insight into how complex exporting can be. Even beyond the challenges of gathering market intelligence and finding customers, there are seemingly countless steps to take before entering a market, such as writing contracts, finding customs and regulatory information, and lining up a freight forwarder.”

Establishing client relationships through trust

Beyond helping exporters get started in new markets, Tanita’s team helps them keep their companies and investments safe so that they can get the most out of their global business ventures.

“A couple of times we’ve had exporters come to us saying they have a great opportunity to work with a partner abroad, but they aren’t sure how to manage their risks. In addition to EDC’s insurance and financing solutions, we helped them gain an understanding of what is typical to include in an international contract, how to protect their intellectual property, and how to conduct due diligence on potential business partners. We also put them in touch with Trade Commissioners who have the industry and market expertise that the exporters were looking for.”

Serving in a role that requires her clients to fully trust in her knowledge and abilities makes it crucial to Tanita to demonstrate her credibility. Earning her CITP®|FIBP® designation gave her the specialized knowledge base she needs to serve present and future clients as she looks forward in her career at EDC.

“Becoming a CITP®|FIBP® was an important step for me to be able to truly live up to my role as an export advisor.”

I’ve built the knowledge to provide meaningful assistance to exporters, and the designation serves as the seal of approval that I know my stuff. I know the designation will continue to be an asset for me no matter what role I take on next.

Tanita has also shared her export expertise by contributing articles to My StartUp Canada, a resource for new entrepreneurs in Canada. We look forward to publishing her original articles in TradeReady.ca soon so stay tuned!

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Eric Agyemang, CITP|FIBP, is a Small Business Account Manager at Export Development Canada (EDC), where he manages an active portfolio of exporting companies in Southwestern Ontario, helping them find ways to access financing and safeguard their foreign sales.

Helping people through international projects is a life-long pastime

International work has been part of Eric’s life since he was very young. He grew up in Ghana, first setting foot in Canada in Prince Edward Island back in 2004.

He was there as part of a mission with a program called Canada World Youth, where he worked with local youth, encouraging them to live more active lifestyles. He also started his own organization to recruit international volunteers for Ghanaian schools and clinics.

At FITT, we have been watching Eric’s international trade career first take off and then flourish. Eric had an admirable student career, achieving multiple awards and accolades, including the School of Business Award at Algonquin College, and was named one of Canada’s Top 25 International Business Students in 2013.

We had the honour to present him with the FITT International Business Plan award in 2012, and the EDC-FITT Internship in 2014, where he quickly impressed his colleagues and became a member of the staff.

Finding a place to put his skills to use at EDC

“Though my career in international trade started back in 2005, when I co-founded an international volunteer placement organization in Ghana, it was the EDC-FITT internship that really honed my interest in international business,” Eric says of the experience.

He was taken with the variety in tasks, clients and sectors he would get to work with on a daily basis, as well as the chance to make a real difference in the international trade industry.

Working with such a diverse group of companies showed me the vast plethora of opportunities out there for Canadian entrepreneurs wanting to expand their global business footprint.

“The internship also afforded me the unique chance to learn and understand some of the challenges faced by many small-and-medium-sized businesses, from Vancouver to St. John’s. And the support provided by EDC can be truly a game-changer for many of these companies.”

“All these, I believe, have greatly set me up for success for both my current role and beyond.”

Every day, a new adventure

Eric enjoys and excels in his role at EDC, where he manages a highly diversified portfolio of companies across many industries and dealing with different countries, which he says means there is never a “typical” day.

Every day is different, customized to the client and their current needs. Every transaction is particularly unique, which has been a very exciting part of my job.

“In essence, as part of the greater Southwestern Ontario team of Commercial Market and Small Business Account Managers, my role is really to serve as a trusted partner in finding creative ways to help Canadian exporters.”

Whether it’s through dealing with the businesses directly, or their banks, Eric connects them with EDC’s suite of solutions to ultimately help foster and facilitate trade.

After his success in the FITT program and his internship with EDC, Eric decided it was a natural next step to apply for the CITP®|FIBP® designation to cement his position among the global trade elite.

Clearing the last official hurdle to join the international trade elite

“Without a doubt, the FITT program really gave me the right tools and a solid platform to give my career in international business a boost. The courses were focused and practical and allowed me to hit the ground running once I was hired.”

I chose to apply for the CITP®|FIBP® designation because, frankly, there is really no other accreditation as widely respected and more broadly recognized by business professionals around the world.

“Being a CITP®|FIBP® genuinely enhances my credibility with business leaders and demonstrates my dedication to the profession. After years of hard-work, I am absolutely thrilled to earn my designation. Joining the membership of Canada’s growing elite network of international trade professionals has been a tremendous honour.”

Eric recently had the opportunity to be part of an interesting project promoting the importance of ethics, sustainability and social responsibility for young people looking to start their professional journeys.

“Earlier this year I got to be a part of EDC’s 2014 CSR Report project; speaking on the importance of corporate social responsibility for young professionals, especially when it comes to choosing where to start a career.”

If you check out the video he participated in here, you will see the passion and enthusiasm Eric has for EDC, and the opportunities that exist for young people to engage in sustainable, community building positions.

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