Business growth often has to include an eye to international expansion and FITT was there to connect women entrepreneurs to the know-how they need to be successful in global markets. In this article, we will cover 10 of the key learnings that were shared at this productive event.

1. Stay on top of the changing landscape of global challenges

It’s essential for business owners and entrepreneurs to stay informed about the critical issues and trends that may impact their operations and decision-making. The global challenges which are currently affecting businesses worldwide include the debt ceiling, fallout from banking turmoil, inflation, interest rates, China’s reopening, geopolitics (war in Ukraine), and climate change.

Each of these factors can significantly impact the global economy and have a ripple effect on businesses in various sectors. Staying informed about these challenges will enable entrepreneurs to make well-informed decisions and adapt their strategies accordingly.

2. Re-globalization is shaping supply chains

After experiencing both globalization and deglobalization, the world is now witnessing a process known as re-globalization. This process is characterized by a renewed emphasis on global interconnectedness and can be seen as a response to previous trends of isolationism in certain countries and regions.

This transition involves the adoption of new trade policies, such as switching trading partners, revamping supply chains, and focusing on domestic production.

3. Friend-shoring may be the best way to react to China’s “de-coupling”

Another notable aspect is the concept of “de-coupling,” where countries like China aim to reduce their dependence on the United States. While re-globalization offers potential benefits, such as increased stability and reduced vulnerability to disruptions, it also presents risks.

Friend-shoring, a strategy of engaging in trade with friendly nations, ensures continuity, but may come at higher costs and potentially disrupt global trade leading to inflationary pressures.

4. Closely monitor inflation trends

Inflation has been a significant concern in 2022-23. The goal is to bring inflation rates down from their current levels, such as Canada’s 4.4%, to a target of 2%. The decrease in goods inflation can be attributed to a decline in demand as China reopens, and supply chain stability improves.

However, services inflation remains elevated, mainly due to higher wages and salaries. Business owners should closely monitor inflation trends and consider the potential impact on their costs, pricing strategies, and overall financial health.

5. Beware of currency risks and other economic shifts

In the face of these challenges, business owners must remain vigilant and prepared.

Monitor the economy for signs of a potential downturn or recession, which some experts predict may occur in Q2 and Q3.

In addition, the persistence of sticky inflation calls for a cautious approach and the expectation of restrictive monetary policies in the foreseeable future. Markets, including currencies, interest rates, and equities, are likely to remain volatile, demanding attention and proactive risk management.

6. Global ambitions require global skills

Having a strategic mindset is crucial when venturing into international trade. Instead of relying on opportunistic approaches, businesses must develop a well-thought-out strategy, including an organizational pillar, financial pillar and operational pillar.

This mindset ensures that decisions are based on thorough research and analysis, and identifying opportunities aligned with long-term goals.

Going global requires trade-capable individuals within the team who possess the necessary skills and knowledge to navigate global markets effectively.

7. Consider the “double half rule”

The “double half rule” highlights that it often takes twice as much time and efforts to achieve only half the value (compared to domestic business) when expanding internationally. Never underestimate factors such as the amount of time, money, and effort required.

Cultural differences and language barriers can also pose significant obstacles. In addition to that, being up to date with customs regulations, policies, trade agreements and other regional regulations will be the base to establish and maintain the relations with partners.

8. The power of networking

Networking and leveraging available resources play a vital role in addressing these challenges. Establishing connections with organizations such as chambers of commerce, Trade Commissioner Service (TCS), Export Development Canada (EDC), Business Development Centers (BDCs), and Small Business Development Centers (SBDCs) can provide valuable support and guidance throughout the export journey.

Being a part of WPO 2023 Entrepreneurial Excellence Forum proved this point of the value of leveraging the network and mutual support of female leaders.

9. How to determine if your business is export ready

A strong export plan is a critical component of success in international trade. Research is the foundation of such a plan, enabling businesses to make informed decisions. We highlighted five key considerations while creating an export plan:

1. Clearly define objectives
2. Select the right market based in extensive research
3. Choose the right product(s) to enter the market gradually (sometimes you don’t need to go with all your products at once)
4. Establish an appropriate financial model
5. Determine the most suitable fulfillment process

It is important to continuously update and adapt your export plan based on new insights and market dynamics.

10. Get the right people on the bus

Great organizations make sure they have the “right people on the bus” and the right people in the key seats before they figure out where to drive the bus.

Does your business have the right talent in place with solid experience in international trade?

It does not matter where your business originates from or what it does – your priority is to recruit the right talent with relevant experience. So, when it comes to business expansion, you need a team that understands how to:

• Research target markets effectively
• Manage international finance and FX intricacies
• Navigate the complex landscape of international shipping, logistics and transportation
• Engage in appropriate cross-cultural marketing and sales
• Adapt products and services to the many regulations in international markets

Regardless of the position, what is exceptionally important for the success of your team is the amount of professional experience and training they have.

Additional resources:

• How to Take Your Business Global – 5 Important Steps for Female Leaders
• How To MacGyver Your First Export- Laurel Delaney
• EXPORTING: The Definitive Guide to Selling Abroad Profitably

The post Top 10 things we learned at the WPO 2023 Entrepreneurial Excellence Forum appeared first on Trade Ready.

For over 15 years, Jason Fischer has worked in high-level positions for some of the biggest companies in Canada, dealing with massive rail shipping networks and other forms of transportation.

While he’s come a long way in his career since his first trade-related job as a part-time ramp attendant at the Calgary International Airport, his enthusiasm has remained as vivid as ever.

“One of the highlights of my career has been the chance to see all different types of aircraft up close, especially some of the massive cargo jets like the freight MD-11s, or anything made by Antonov.”

Making container cargo more efficient, and new friends along the way

In 2001, Jason began working at Mark’s Work Wearhouse as their Operations Manager, taking responsibility for all textiles coming into the country.

“I was responsible for the offshore cargoes that were imported into Canada. The majority of the import traffic was containerized and arrived by sea. It was in this capacity that I was instrumental in developing an Inland Container Depot (ICD) to ensure that our breakdown terminal had enough containers over the course of the day. We used metrics to determine how many containers and staff would be required to manage it. So we engineered a timeline and volume that produced the most efficient results for the capacity of the facility and manpower.”

He excelled over the course of his seven years at the company, and claims one of the main reasons is that he was unafraid to ask questions and never stop learning.

“There are no lone rangers in this occupation – do not be afraid to reach out and ask questions or for help – because one day you will be providing the answers as well.”

He also discovered that reaching out could lead to fun cultural experiences, such as one instance where he got to meet and greet the crew of a container vessel and eat dinner with its captain in Vancouver.

“The crew was largely from Bangladesh and the dinner represented that region of the world. It was a unique experience that expanded my world view.”

Building his skills with formal training and certification

Beginning in 2004, Jason also sought to add to his knowledge by taking the FITTskills online courses. He completed his final course to earn his FITT Diploma in International Trade in 2007. Jason credits the courses with helping him to thoroughly assess his existing level of international trade knowledge and fill in some crucial gaps.

Taking the FITTskills courses allowed me to benchmark my learning and establish greater credibility for my abilities and skills.

“I also really enjoyed completing a project for one of the courses on exporting hay from Alberta to Japan. I ended up gaining a whole new appreciation for the breadth of international trade – and, coincidentally, also discovered I’m allergic to hay!”

Shortly after earning his FITT Diploma, Jason applied for and earned his CITP®|FIBP® designation. He has now maintained his designation for over a decade, having witnessed the positive impact it has had on his career ever since.

“I initially applied for the designation so I could be part of FITT, an organization that has been at the forefront of trade and development for many years. Earning it was a defining accomplishment in my life, and I’m very proud of it.”

“Obtaining my CITP designation was instrumental in my career progression as it benchmarked my experience and provided me with credibility in the workplace. My designation has since opened doors to new employment opportunities, and given me the confidence to contribute more within the international trade field by mentoring others.”

New challenges mean travel opportunities and innovative solutions to transportation questions

While he enjoyed his time with Mark’s Work Wearhouse, a major life change in 2008 prompted a change in priorities that resulted in a new job for Jason.

“My life changed dramatically when my wife and I adopted a boy from the United States. I was in need of a change as my role and responsibilities at Mark’s included a lot of travel. With all the effort of adopting – I didn’t want to be a passive father – so after much thought I transitioned to Canadian Pacific Railway.”

He spent the next five years working his way up through the organization, starting as a Transportation Manager Trainee and fitting into many different roles before reaching the position of Chief Train Dispatcher. While the role involved shift work in a 24/7 environment, it also gave him more opportunities to spend time with his son, which made a big difference for him.

He then briefly worked in CP’s Fuel Optimization Group, before finally moving to a role as Service Delivery Analyst – Carload, scheduling private rail car fleets for CP customers. One of the customers he scheduled for was Diageo, one of the world’s largest alcoholic beverage company, which opened some doors for unique experiences.

“Because of my relationship with Diageo, I was able to go to Gimli, MB and tour the Crown Royal distillery, which was a highlight for me. I also helped them transition to Lakeland Rail Road as CP decommissioned the rail line between Sellkirk, MB and Gimli, MB. A co-operative of farmers and investors, with a grant from the provincial and federal governments, provided financing for a Short Line Rail Road to ensure that businesses like Diageo, that needed that transportation, would still be viable.”

Honing his rail expertise with two massive multinationals

When CP embarked upon major structural changes, Jason realized that his position might require him to relocate, so he began looking for other work and started at JPMorgan Chase scheduling rail transport of crude oil.

Not long after starting there, however, his office was purchased by another company, which involved restructuring that eliminated his position. Fortunately, he was recommended for a position as Crude Oil Scheduler with Shell, and has now worked there since September 2014.

On top of managing the rail cargo, Jason has made major strides within the company to improve their reporting and scheduling and consolidate it into a single easy-to-use dashboard.

“I began to realize very early that one of my main jobs was managing people’s expectation of rail. In order to do this I was able to take multiple reports and distribution lists and combine them into a central location. I talked to many of the stakeholders and basically created one reporting dashboard that had all the data that everyone was requesting. I also leveraged technology to develop reporting specifically for crude rail, and this created a stable platform to do scheduling duties.”

Equally proud of his accomplishments and excited for what’s still to come, Jason is thriving in a career he excels in and enjoys. As he continues to find new solutions to old problems or enjoy the unique experiences that arise for many global business professionals, his training and CITP®|FIBP® designation will continue to play an important part in his career development and the success he achieves along the way.

The post Jason Fischer, CITP|FIBP – Crude Oil Scheduler appeared first on Trade Ready.

I have a Master of Arts in International Relations. However, I wanted to understand how policies affect businesses, and how businesses make their sourcing and procurement decisions.

After discussing some of my ideas with my friends, mentors and colleagues in food technology, marketing, manufacturing and other industries, I set out to do two things:

First, I wanted to learn what’s involved in importing and exporting products.

Second, I wanted to build a niche business that offers unconventional and unique products to the Canadian market from socially responsible suppliers.

Starting my international trade business

In 2012, I created Linkus. We specialize in providing ingredients from the Amazon rainforest from renewable non-timber sources. Our manufacturers partner with local co-ops to obtain wild-harvested fruits and seeds, then process the raw material in first-class manufacturing facilities in Brazil to deliver the finest quality pulps, purees, powders, concentrates and oils.

In order to assist companies in finding unique and unconventional ingredients from quality manufacturers, I first developed a relationship with officials in Brazil who could help me find and meet with manufacturers interested in exporting to Canada. At the same time I reached out to a number of CITPs, who have taken the time to listen and mentor me.

Getting some help from a network of experts

Through this professional network, I was able to learn about processes for exporting goods into Canada, including the legal aspects of being an agent, regulatory compliance and tariffs. Through this legwork, I have also been able to liaise with manufacturers to provide them with an understanding of the regulatory environment in Canada.

The FITT community has been a really invaluable resource in my pursuit of a career in international trade.

CITPs have always found the time to guide me and help me find answers to my questions. They have helped me develop an understanding of where to be cautions when international transactions happen, what legal framework is necessary to operate successfully in Canada, and what to expect and be aware of during international trade round-table discussions.

In 2012 and 2013 I had the honour of being invited to participate in trade round-tables organized by Apex Brasil, an organization that has been instrumental in assisting my business partner and I find partners in Brazil. In 2012, I represented Linkus Global Inc., and was able to develop a good relationship with 100% Amazonia, who we are privileged to represent in Canada. In 2013, I represented OrganicaPure at trade round-tables in Manaus as we were looking to source a new product line.

FITT for the future

In the past two years, my business partner Antoine Kahn and I have incorporated Linkus, established excellent relationships with suppliers in the Amazon and participated in numerous food trade-shows in North America. It’s now that the rubber hits the road. My goal is to make our efforts visible through sales, and to establish Linkus as a serious player in the Canadian market.

I plan to enroll in the FITTskills International Trade Finance course and continue leveraging the exceptional FITT network to access food professionals and to help food and beverage businesses innovate and incorporate some of the unique ingredients my company has to offer.

While there are different certifications available for professionals in the trade and supply chain business, I do not think they have the same level of resources and reputation to start and grow a career in international trade in the ever-changing international markets: FITT “fits” the bill.

The post How joining a community of international trade professionals helped build my global business appeared first on Trade Ready.

For companies, particularly SMEs, developing international business savvy among their most important asset – the people who work within their international business functions – is critically important.

This is because it is often these professionals who have more of a strategic role in the organization, and who make decisions that affect the ways the company invests, how it grows, and how it competes.

These international trade practitioners tend to be the drivers of growth, rather than a factor in supporting growth.

Working within the global marketplace demands expertise in international trade.

Today more than ever, moving goods and services across international borders requires a unique set of skills and knowledge, in addition to the essential skills required to run a business.

Trading products and services across borders requires companies to be prepared for international finance, cross-cultural relationships, international trade law and a host of other international management competencies that differ from their domestic counterparts due to their multinational context.

So how do you know if you have the right competencies to work for a globally competitive company? And who determines what the right competencies are?

Defining the skills you need to know

Focused on the needs and priorities of business, the FITT International Trade Competency Framework was designed by international business practitioners for the purpose of defining exactly what skills and knowledge an individual should have in order to work in international trade.

The framework contains a comprehensive library of skills associated with the field of practice for international trade, and takes into account varying types of work environments, levels of complexity, and job types.

The aim in developing the model was to create the first all-inclusive, international competency framework for trade practitioners that is both dynamic and sufficiently flexible, in order to respond to new and emergent demands.

With this in mind, when developing the framework, FITT ensured it would be:

• practical, accessible and simple to understand, containing familiar language and terms understood by trade practitioners.
• future-oriented and flexible.
• sustainable – designed to be easily maintained.
• globally relevant and benchmarked against global practice.
• scalable and able to integrate tools and resources to support a broad range of practice, for individuals and for institutions (industry associations, employers, academic institutions).
• designed and led by expert trade practitioners who could define the needs; with significant and meaningful stakeholder engagement.
• inclusive of competencies for individual efforts and for work functions that require team collaboration.

A peek into FITT’s International Trade Competency Framework

The FITT International Trade Competency Framework contains 15 major competency categories, 35 task/skill areas, containing a total of a 121 competency elements (sub-categories).

Each of the 15 major competency categories contain explicit and detailed information that defines the expected standard of a fully proficient international trade practitioner.

The competencies apply to different occupations or areas of responsibility, including frontline/production or administrative roles, supervisory or midlevel managers, and directors or executive positions.

The competencies were designed by business, for business and therefore are focused on business priorities.

They apply to any individual working in international trade, regardless of what country they live and work in; and, they apply to all types of international trade practices taking into account import and export, and the trade of products, raw materials and services.

These business-centric competencies are forward-looking and aim to prepare people for practice into the year 2020.

They are NOT simply a statement of current practice or the embodiment of how people function today, and they can be linked to industrial sectors, occupations, and/or professions, that serve international trade practices, e.g. customs brokers, supply chain managers, freight forwarders, etc.

The FITT International Trade Competency Framework, funded in part by the Government of Canada’s Sectoral Initiatives Program launches in 2016.

In the meantime, login to FITTforTrade.com and download our white paper to learn more.

The post Skilled international trade practitioners are driving their companies’ global growth appeared first on Trade Ready.

We have all seen the email, the “If we don’t get this item to this country NOW it is going to throw the whole project off!”

Then comes the slew of emails back and forth, and back again, regarding how the company is going to actually get the equipment moved, often including input from lawyers, about the steps needed to put the proper licenses in place.

Frequently, government export authorizations or licenses, taking weeks or months to secure, are the hold-up.

It doesn’t need to be this way.

Too often, companies train employees on trade compliance as if it is an annoying bundle of red tape that will inevitably hold up operations. Employees are taught that trade compliance is a hurdle they are forced to jump through once they are ready to get a job done.

This viewpoint is enforced by complicated policies replete with legal language that offer no hint to the reader about why he or she should care.

In reality, trade compliance does not have to hold up operations. The following steps will help you integrate trade compliance into everyday operational decisions. Trade compliance cannot be an afterthought that no one thinks about until it is too late.

By then, you will have people and equipment sitting around unused, costing you time and money.

1. Focus on why export control laws are in place.

Too often, export control laws are explained in legalese, citing regulation numbers and government agency definitions. While the law itself is important, it is also important to understand the big picture.

Are these laws in place just to make doing business more difficult for your company? Despite what some people might think, the answer is no.

These laws serve important purposes in national and international security.

Don’t lose sight of that and don’t let your operational personnel lose sight of it.

Policies that people believe in, where they can see the purpose behind them, are most likely to be followed instead of ignored.

2. Make export compliance part of the first steps in a project instead of the last.

Trade compliance should be part of a project discussion at the initial stages. It should be an item on the meeting minutes when projects are first being organized. While it is not always possible to anticipate export control issues, most of the time it is.

If the person responsible for exporting or re-exporting equipment is involved in project discussions early on, your company is less likely to be stuck with items sitting in a warehouse, waiting for the right licenses while operational personnel at the receiving end sit idle.

This saves your company time and money.

You can achieve this easily by training all of your operational personnel in the basics of trade compliance. This does not have to be an in-depth training program. It is as simple as making operational personnel aware of the questions they should be asking:

What is being shipped to where, and do we have the proper license in place?

Consider how much more efficient your operations would be if all personnel involved in a project knew to ask those questions. While those ultimately responsible for compliance will need to have a bigger window into the process, getting everyone on board goes a long way to improving your operational efficiency.

The thing is, everyone knows that they will have to manage trade compliance issues eventually. Make it something people are used to considering up front.

3. Make compliance with export control restrictions simple.

Above I boiled down export compliance into a sentence that operational personnel should be asking: what is being shipped to where and do we have the proper license in place? The truth behind this idea is that not everyone needs to know all the details.

If you are able to identify what is important to your audience and then remove the extraneous information, you are more likely to hold listeners’ attention. The chances are then better that the information that is being provided will stick.

Of course, it is easier to have everyone go through the same trade compliance course that includes the same information, relevant or not to that individual. It takes time to identify who needs to know what, but, once you do, the reward is that your training is actually effective.

4. Encourage communication between export compliance personnel and operational personnel.

No matter how hard you try to make it simple (there is always a catch!), the fact is that export control laws are complex and can be fraught with nuance. When you create “general” rules to make things simple, you must pair it with an open line of communication to raise questions when something complicated or out of the ordinary comes up.

You can facilitate two-way communication by starting the conversation. A monthly or quarterly email containing a few tips or updates from you to operational personnel goes far.

People will associate your name with export compliance so that when a question pops into their head, the thought “I should email …” accompanies it.

If you start getting more questions than you have time to answer (a good problem to have), designate someone to respond to questions when you are unable to. Questions are often repeated, and concern matters that can often be resolved with a simple records search.

Employing an individual, besides yourself – or whatever busy trade compliance officer is in charge of the program – who can quickly answer questions from operational personnel goes far in a world where business is often being done 24-hours a day.

You can also create a unique email address (e.g. tradecompliance@) that multiple people can access.

If someone in your company was asked about trade compliance, would your name pop into his or her head as the go-to-person?

5. Don’t shoot the messenger

No one likes to be the bearer of bad news. “Don’t shoot the messenger” is a phrase because it is a common instinct. You should strive for the opposite in your trade compliance program. Don’t be the last to know.

An “open door” policy that rewards people for coming forward with information, even if it is a kindly worded thank-you email, helps you to make sure that you know what is going on.

Yes, the consequences for trade and export law violations are severe and can amount to very bad news, but unless you are aware of mistakes being made, it is impossible to fix the gaps or misunderstandings within your compliance program.

Encourage people to report on every suspected violation, and follow up with the person who reported on the outcome. You will often find that operational personnel are overly careful, that they see potential violations where there are none.

By encouraging people to double-check with you, via reporting suspected violations, you are educating your personnel on what is and is not a violation and gaining a clearer picture of how trade compliance actually works within your company.

Which of these steps could save your business the most time and money? Anything else that would be worth mentioning?

The post 5 practical trade compliance steps that will save you time and money in global business appeared first on Trade Ready.

You cannot judge these unexpected cultural differences as right or wrong. If you do, you are falling into the trap of assuming that your culture is superior to others, and the mindset that “if they are not like me, then they are wrong.”

This is counterproductive and will also take away from experiences that you can enjoy and remember for the rest of your life.

The FITTskills curriculum covers the importance of cultural considerations in multiple courses. These courses are my personal favorites because it’s fascinating that we can be so different.

With respect and acceptance, we are in for a treat when we recognize how close we can become and how much we can learn from other cultures.

Above and beyond personal relationships and experiences, are the business implications of making snap judgements and being unprepared for cultural distinctions.

Learning about other cultures before attempting a business relationship can make all the difference between success and failure in that venture. The following three personal scenarios drive the point home about the value of doing research about the cultures you plan to do business with:

1. Taking notes doesn’t always show interest

Having been raised and cultured in Canada, I was taught to actively listen and show interest in what’s being said, especially if this communication is with your customer.

I developed a habit of walking into meetings with a note book and jotting down important points and action items. This behavior was always encouraged and positively reinforced.

During one of my meetings abroad, I was very surprised when the person asked: “I notice that every time we meet you bring your book and you take notes. Why?”

I explained the reason and emphasized the importance of the meeting, but he found it rather strange that I couldn’t retain the information in my head without the need to take notes. It was perceived as a weakness rather than a sign of interest and respect.

When we met again later, I made sure my hands were free and we both had a good laugh as we discussed cultural differences.

Not everyone in that culture was the same and it is possible that this might have been a one off, but the incident did open my eyes.

I realized that I can be doing something that I feel is clearly showing complete respect, no matter how small, and it can be perceived  differently by others.

Being aware and adapting is very valuable.

2. Leading with your best price may not be sound business

How would you feel if the first question you received during a negotiation meeting was “How much of a discount can you offer us?” You would probably blame yourself and conclude that you hadn’t articulated the true value of your solution.

When I lived this scenario, I was also thinking that if I am chosen solely based on price, I will eventually lose the business to someone else’s larger discount.

As I learned more about this culture, it was evident that the higher the discount percentage shown on your financial proposal, the higher your chances of winning.

The large discount reflects well on the decision maker’s negotiation skills and abilities.

This meant that you have to offer a much higher list price at the start, taking into account the discount levels you would have to offer through multiple negotiation rounds.

More often than not, the final round would involve a senior person who would ask for an additional discount, and it meant that you would get the business if you agreed. This way, you make them look influential and everyone is happy.

This culture dictated that you do not offer your best price from the start, or you will be at a huge disadvantage compared to those who did their research and were aware of this practice.

3. Getting down to direct business talk works in some markets, but…

One of my first business calls at IBM was to a U.S. customer who attended one of our events in New York. I started by introducing myself and then made the mistake of asking “How are you?”

He replied “I don’t know you, you don’t know me, what do you want?”

Clearly, I had to go through some adjustments to cater to the style of a busy New Yorker, nothing personal.

I jumped right into business and explained that I am following up on his requests from the IBM event he attended. His reply was very pleasant once he knew that I wasn’t wasting his time, and it was a courtesy follow up to something he expressed interest in. I learned a valuable lesson.

Another time, I tried this direct style face-to-face in an attempt to schedule a meeting in a high context culture. I went right into business and the “dry” conversation lasted less than five minutes.

I learned my lesson again; so I started my second attempt by complaining about the weather and three hours later, I had made a new friend and a business associate.

The moral of the stories are, it always pays off to learn about cultural differences, and if you encounter similar situations, be respectful and adaptable as long as common ethics and integrity are not jeopardized.

Have you been in a situation where you had to quickly adapt to a new culture? How do you find out about cultural differences before doing business in a new market?

The post 3 unexpected cultural differences that required adapting my business tactics appeared first on Trade Ready.

Abid Samdani, CITP|FIBP, is a Trade Commissioner Assistant with DFATD in Karachi, Pakistan.

With a passion for international trade and over ten years of practical experience, he is setting himself apart as an elite member of the global trade community.

From a free trade agreement to a presidential visit

Abid began his international trade career in February 2005, when he became a Commercial Assistant at the Consulate General of Sri Lanka in Karachi.

The opportunities in joining the international trade field are huge. It offers the chance to be a constant learner, to work in a challenging environment, travel and to make a real impact on the company or organization for which we work.

One of his initial assignments was to supplement the Sri Lankan Mission’s operation to provide relief to areas in Sri Lanka hit by the tsunami in December 2004.

His core responsibilities included promoting awareness among the Pakistani business community about the free trade agreement signed between Sri Lanka and Pakistan, a task which had a major influence on the rest of his career.

“Just after joining the Sri Lanka Consulate in February, the Pakistan – Sri Lanka FTA came into force from June 2005. I was made responsible at the office for studying and communicating its basics to local businessmen. Later, I got myself so involved in the subject that it made me adopt international trade as a career.”

He was an important member of the team which organized and recruited 27 companies from Sri Lanka for the “My Karachi Exhibition 2007,” which resulted in several memorandums of understanding (MoUs) and contracts being signed between various participating businesses.

Abid also operated the Sri Lankan visa section of the consulate for a couple of weeks, under supervision, when one of the visa officers was absent, and assisted with protocol and administration when then-Sri Lankan President Mahinda Rajapaksa visited Karachi in 2006.

“Providing ‘in-market’ support to visiting trade missions and delegates had been an integral part of my portfolio; varying from event planning/management to handling high level protocol services.  This multi-tasking has really helped me later in my career to professionally handle multiple tasks within time constraints.”

Scaling new international heights with DFATD

After over three years at the Consulate, Abid decided to join DFATD and begin his current position as a Trade Commissioner Assistant at the High Commission of Canada in Karachi.

“Working for DFATD as a Trade Commissioner Assistant was my dream, to work for one of the largest OECD economies, and with a highly globalized North American economy. It has given my career a new height of success and international exposure.”

“At the Karachi post, we deliver client-focused services to Canadian business that includes market intelligence, match making for business partners, promotion of B2B networks between Canadian clients and local contacts, and more.”

Two of Abid’s main areas of focus have been forestry and education, and he has worked to see impressive results in both areas.

One of my proudest accomplishments was assisting with the business ventures, events and marketing of Canadian forestry products to achieve an increase of approximately 20% of Canadian lumber to Pakistan.

These forestry products are then primarily used in construction and allied industries, like cabinets, floors, door framing and furniture.

In the realm of education, Abid has been working on a program called “Imagine” to create awareness for Canadian post-secondary institutions as desirable international study destinations for students, parents and consultants in Pakistan.

The program includes school presentations, participation in local education events, newspaper editorials, connecting with local education groups, and general advertising.

As a result, there has been a steady increase in the number of Pakistani students applying to, and enrolling at, Canadian universities and colleges.

Abid hopes that “the quality of a Canadian education will provide them with the tools they need to develop their full potential. The program is therefore intended to be a springboard that will help them fulfill their dreams and ambitions.”

He also has a diploma in computer science, and was able to help the entire Trade Commissioner Service by suggesting improvements to their new corporate CRM tool.

An unending thirst for knowledge

In 2010, two years after starting with DFATD, Abid began working on his Post-Graduate Diploma in Economics and Finance (PGDEF) from the University of Karachi. However, one educational program wasn’t enough for him.

“I took the FITT courses as a challenge as I was also completing my PGDEF from the University at the same time.”

Online FITT courses allowed me to study at my own pace and at my given time, and it allowed me to login from anywhere to study – which eventually resulted in completion of both study programs in the same duration.

On top of his other education, Abid is certain that studying international trade, specifically through FITT courses, has been a great asset to his career, and will continue to be going forward.

“The FITT courses gave me in-depth and current knowledge of international trade. It expanded my horizon to a new level, empowering me to research and think analytically before going ahead in international trade work, or any other field of life.”

Joining the international trade elite

Once Abid finished the courses, he was excited to apply for and receive the elite CITP®|FIBP® designation.

“I am honored to be affiliated with the most prestigious professional CITP|FIBP designation by FITT, the only credential of its kind that is industry proof of the highest level of cross-functional international trade expertise.”

Though he has only had his designation for a few months, Abid says he is already seeing benefits to his career, and is excited to see the directions it can take him in the future.

“The CITP designation will advance my career and build professional credibility in the field of global business. It will set me apart in the competitive international business industry because it’s proof that I possess the competencies global business experts have identified as being essential for a successful career in international trade.”

The post Abid Samdani, CITP|FIBP – Trade Commissioner Assistant appeared first on Trade Ready.

Ann Archer, CITP|FIBP, is an International Logistics Specialist for General Dynamics Land Systems – Canada (GDLS-C), a company based out of London, ON which manufactures light armoured vehicles (LAVs) and provides full fleet life cycle support including upgrades, repair services and training. Its global customers are governments and armed forces around the world.

With twenty-three years of experience in international trade, Ann is capable of taking on even the largest projects, ensuring that the goods she is responsible for will reach their destination without issue anywhere in the world.

From small-town Ontario to global markets

Ann’s global trade career began in 1992, working as an Export Sales and Marketing Manager for Cold Springs Farm Ltd. in Thamesford, ON. In the role, she was responsible for the international exports of turkey commodities.

It required close coordination with both the Canadian Turkey Marketing Board, to ensure all production quotas were met at a national level, and the Canadian Food Inspection Agency (CFIA), to ensure all documentation and quality inspection met regulations.

It was during Ann’s years in this role that she first encountered FITT, and decided to take FITT courses.

She says that taking the courses made her feel confident that her skills matched up against the highest competency standards for international trade professionals.

In 2006, she earned her elite CITP®|FIBP® designation, and feels that having the designation has had an enormous impact on her career, particularly in proving her expertise in the industry.

Being a CITP®|FIBP® has numerous positive influences. For example, it is a symbol of competency and credibility when working with other trade partners.

She also says that completing FITT courses has similarly proved her international trade knowledge and commitment to it as a career.

“Education teaches discipline, provides self-esteem. Education tells your employers that you can work hard to accomplish things. Employers look for people who have stuck with their education. They want an employee who they know is going to be able to discipline themselves to come in to work, set goals and achieve them.”

Meeting new challenges in a new industry

After spending fifteen years with Cold Springs, Ann decided to move to GDLS to accept her current role in 2007.

As an International Logistics Specialist, Ann is responsible to ensure both import and exports of material and vehicles reach their international destinations compliantly, meeting cost, schedule and performance.

One step for Ann is dealing with ITAR (International Trade and Arms Regulations) compliance, TDG (Transportation of Dangerous Goods), Canadian import-export controls regulated by  Foreign Affairs and International Trade Canada, and ensuring all regulations set out by the Canadian Border Security Agency  and U.S. Customs and Border Protection are met.

Along with compliance documents, Ann has also had to execute and support letters of credit for foreign government agencies.

Another of her responsibilities is negotiating contract air charters to take vehicles or related equipment like turrets to countries like Switzerland, South Africa or Saudi Arabia for demonstrations or exhibitions to government officials.

Ann frequently uses different temporary export methods to send vehicles to trade shows in countries like the UAE, France, Australia and India, as well as for demonstrations for government officials in Europe, Africa, South America and the Middle East.

She must balance the pros and cons of air, ocean and ground transportation to find the best single or multi-modal method of sending the goods to their intended destination, while working with the necessary freight forwarders and all levels of government officials needed to approve the exports.

Speaking the languages of her trade

Ann says that one of the challenges of her position is remembering not only the terms and acronyms of international trade, but also those of the customer.

“We ship a lot of unique material and use various acronyms and often make reference to military terms.  One day I received an email that simply stated that according to Hoyle, this is how it should work.

“Puzzled, I read it a couple of times, wondering to myself if Hoyle might be a reference to a customer or Army representative. Finally I turned to my coworker who was copied on the same email and asked who or what is a Hoyle? Their response was “You’re asking me? I am from Europe.”

“My supervisor had overheard the question and stated, “Isn’t that an old rule book on card games?” Sure enough, it was.”

It turned out that the phrase “according to Hoyle” now means the speaker is asserting their authority on the subject.

The moral of the story is if you want people to understand you the first time, please be clear and concise and don’t use slang or acronyms.

If you do need to use acronyms, spell them out the first time you use them.  Remember we work in a diverse environment, with different age groups, backgrounds and ethnicities.”

The right people create the right results

Since Ann started her current role, she has managed to achieve major goals.

Ann was able to synchronize the company’s scheduling production with their ocean transportation and end user delivery requirements, saving the company over $6 million.

She is also proud of her ability to play a role in the company’s larger objectives, such as being awarded contracts with the Colombian Government, the Peruvian Government, and Saudi Arabia.

For her efforts, Ann has won several major company awards, being on the team receiving the GDLS Global Supply Chain Management Council Excellence Award twice, as well as “several Spontaneous Recognition awards for cost avoidance, outstanding efforts and going above and beyond expectations” in her role.

She credits the quality of professionals in the company for her personal and team success.

“In today’s global environment, competing against or working with several strategic partners, under a strongly regulated environment, companies cannot afford to be complacent. The strength is in the people.

Having a well-educated, diversified group of people, I believe, has helped carry us forward, and remain strong and ahead of our competition.

After completing her FITT courses and having her CITP®|FIBP® designation for over eight years, there is no doubt that Ann has the education and expertise necessary to continue to excel in global trade, and to help her company stay ahead in international markets.

The post Ann Archer, CITP|FIBP – International Logistics Specialist appeared first on Trade Ready.

This agreement means that for the first time, the three largest emitters of greenhouse gases (GHGs), the European Union, the U.S., and China, have publicly committed to emissions targets.

Commitments from the world’s 3 largest economic powers

The EU commitment is a 40 percent reduction below 1990 levels by the year 2030. It’s already about halfway there.

By comparison, the new U.S. agreement is to reduce its CO2 emissions to between 26-28% below 2005 levels by 2025. China has agreed prevent its carbon emissions from growing after 2030.

The latter is significant given that China’s current growth in emissions is at an exponential rate, fueled by its rapidly growing middle class, and its efforts to raise millions out of poverty.

These are significant targets that will have wide-ranging impacts on all of us.

How will these targets affect SMEs?

But where will the reductions come from? How will agreements affect small and medium enterprises (SMEs)? What role will SMEs play in making these commitments a reality?

These answers are not entirely clear to us yet.

However, it is becoming clearer that the survival of many SMEs may depend on them. The primary reasons lies in how the global economy connects SMEs to larger systems.

We have already begun to see the impacts of climate change-related extreme weather events on supply chains and economies near and far.

Here are some examples of the kind of far-reaching impacts that climate change-related events can have:

• A drought in China and Russian bush fires fueled increases in bread prices and decreases in availability that gave rise to the Arab Spring; a drought in Syria gave rise to civil war.
• A drought in Texas caused the closing of a meat packing plant in Plainview, eliminating 2300 jobs in one day and destroying the local community’s economy.
• Water scarcity in India forced Coca Cola to walk away from a bottling plant; drought in California caused Starbucks to move sourcing and manufacturing of Ethos Water to Pennsylvania.

Situations of scarcity like these, and the impending transition away from carbon-based fuels and products will impact SMEs. So will resulting changes in pricing of the resources an SME relies on for its business operations.

Preparing for the sustainable future

It’s clear that we need to avoid the costly events and conditions that result from climate change. The cost of continuing down our current path is indeed risky business, and ultimately more costly than meeting the new targets for GHG emissions reductions.

It’s also clear that the transition from our carbon-based economy will have winners and losers. Are there losers in your supply chain? In your customer base? Is your business currently on the loser end of the spectrum?

The good news is that answering these questions and creating a plan to transition to a low carbon economy can convert a loser into a winner. It takes hard work and planning ahead, starting now, to make the transition successfully.

Forward-looking businesses are not waiting for the governments of the EU, the U.S., and China to legislate what the transition looks like if these countries are to make good on their commitments to make this transition.

Many companies, large and small, are taking action now to assess and innovate away from their carbon dependencies in an orderly way.

As part of this, it behooves an SME to think about its entire value chain. Where do your resources come from? How will price increases for carbon-based commodities affect your sourcing?

What dependencies do your customers have? Will they have continued buying power as a low carbon economy emerges?

What products and services will be in demand or out of style in a low carbon economy? As some current products become unprofitable, what new opportunities will emerge and take their place?

According to a recent study by Cox Conserves, more than half of all SMEs in the U.S. will have a sustainability program within five years, and more than 60 percent within ten years.

A greater percentage of U.S. companies on the West Coast already have sustainability programs than businesses on the East Coast.

There are many lessons learned that SMEs who are just getting started can benefit from. Which group is your business in?

Transitioning to a sustainable business model is easier than ever

Several years ago I heard Ray Anderson talk about his sustainability journey as CEO of Interface Carpet.

When the company finished gathering the information it needed to understand its negative social and environmental impacts, Ray knew that it would take the company several years to make the needed transitions.

It took more than ten.

But that was before sustainability became a regular topic in the news. Nowadays, SMEs looking to make the transition to this “new normal” will benefit from the innovations of people like Ray Anderson.

You can transition your company to a sustainable business model more quickly now, because there are more sustainable products and services in the marketplace and more sustainable businesses with whom to partner.

It’s gotten easier to prepare now for future customer and government requirements, so that they are not a severe shock to your company’s system. SMEs have been empowered to do this themselves, without the cost of hiring an expert, using online applications for sustainability management.

More and more information is coming out about the connections between outsourcing and negative impacts like GHG emissions and pollution.

These types of arrangements may be targets for government action to reduce emissions.

What is your company doing to prepare for climate change-related impacts to your business?

The post Why the survival of global trading SMEs may depend on sustainability programs appeared first on Trade Ready.

Sanctions compliance is more important than ever. As a result, companies need to spend more time to review, assess and enhance their sanctions compliance programs.

Most companies know how to screen potential customers, business partners, vendors and suppliers against Office of Foreign Assets Control (OFAC) lists of prohibited persons and entities.

However, while such a process is important to a compliance program, much more is needed to ensure compliance throughout a company’s operations.

“Check-the-box” type programs are a thing of the past

Gone are the days when a sales clerk ran a customer’s name on a purchase order through a trade compliance database to ensure that the customer was not a prohibited sanctions list.

Companies are required to do much more than that if they want to get full credit from the government for its sanctions compliance strategies.

Under OFAC rules and Department of Justice guidelines, a company has to design and implement an effective sanctions compliance program.

This cannot be a mere check-the-box type of program – it requires a full complement of compliance program elements, most of which are already known to the business community.

I do not intend to list here the elements of an effective program as required under the U.S. Sentencing Guidelines and the DOJ/SEC FCPA Guidance. We all are familiar with those requirements.

Instead, I want to suggest some helpful practical steps.

There are many lessons from recent OFAC enforcement actions. Perhaps the most significant and consistent theme is the fact that many companies have little to no commitment to OFAC compliance other than a basic screening protocol.

Beyond that, companies have focused on anti-corruption, third-party payments and other “more” significant risks.

Here’s where that mindset has to change:

1. Company Culture:

Everyone’s favorite compliance-related topic these days is promoting a “culture of compliance”. That is a welcome development, but there needs to be more to it than just saying culture is important.

Culture is created by actions and communications surrounding conduct and accountability.

When it comes to sanctions compliance, companies have to add the importance of sanctions to the “culture of compliance” message.

2. Risk Assessment:

In many situations, I urge companies not to expend significant resources on a risk assessment. However, in the sanctions area, a risk assessment could be critical, depending on the business’ global operations and potential risks.

For global companies, it is important to examine closely its operations and identify situations where sanctions risks exist.

3. Policies and Procedures:

Too often, companies relegate sanctions enforcement to lower-level managers or employees. A Chief Compliance Officer has to take responsibility for this substantive area and work closely with trade compliance staff to ensure standards are being met.

As part of this effort, a company has to adopt specific policies and procedures for its sanctions compliance program.

The government requires companies to develop trade compliance “manuals,” which need not be exhaustively detailed, but should be drafted to provide procedural guidance for compliance with sanctions.

A sanctions compliance program must name a specific individual, the CCO in most cases, as the person responsible for sanctions compliance.

4. OFAC Database Screening:

Companies rely on database services to conduct OFAC checks. That is all well and good. However, your program is only as strong as your data, and not all data services are infallible.

Companies need to double-check these services, conduct random audits of the checks, and make sure there are adequate reviews of the screening process.

5. Training:

Recent OFAC enforcement actions have highlighted the failure of a company to ensure appropriate training of managers and employees.

This is a requirement that has to be satisfied and documented to demonstrate to the government, if necessary, that training has been conducted.

6. Documentation and Advice of Counsel:

I tend to repeat myself (just ask my wife), but here is a mantra that I say all the time,

A compliance program by definition is ineffective if it is not documented.

Further, to provide additional legal protection, a written “advice of counsel” memo, letter or email should be obtained in any situation where there is a significant question as to the legality of going forward with a transaction.

7. Internal Audit:

A company should audit its sanctions compliance program in accordance with appropriate auditing risk formulas.

If deficiencies are identified, managers should be held accountable for completing any remediation as directed by the internal audit staff.

8. Investigation and Remediation:

A company has to promote a “speak-up culture” and investigate complaints relating to sanctions compliance, remedying any violations that are discovered.

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9. Contract Management System:

A company has to maintain a robust contract management system so that it can review contracts in order to ensure compliance with sanctions restrictions.

Once approved, the contract has to be managed to protect against sanctions violations and any attempt by a customer to evade sanctions requirements, either by facilitating a violation for the benefit of an otherwise prohibited person, or by failing to confirm end user identities and requirements.

Is your sanctions compliance program up to date? Does your company’s “culture of compliance” cover sanctions?

Want to read more about ethics and compliance?

“My hope is that my contribution can lend some weight to an already significant revolution in corporate governance — the rise of the compliance professional and the dedication of corporate leaders and organizations to ethics and compliance.” Michael Volkov

The Revolution in Ethics and Compliance includes a collection of recent essays and blog posts aimed at encouraging corporate leaders to understand how a culture of compliance is not only the best best protection against code of conduct and legal violations, but also how such a culture creates sustainable financial benefits to a company and its employees.

The post 9 ways global businesses need to step up their sanctions compliance strategies appeared first on Trade Ready.