This article highlights some of the most promising opportunities for 2026 focusing on places with strong demand, improving infrastructure, predictable regulation, and openness to international products. Let’s get started.  

What makes a market worth entering today

Before looking at specific markets, it helps to understand exactly what it is exporters are looking for in their portfolio in a period marked by increasing uncertainty in global markets: 

Ease of doing business: Efficient customs, digital documentation, predictable rules, and supportive logistics networks can significantly reduce market entry costs. 

Openness to trade and FTAs: Countries that are part of major trade agreements often provide tariff reductions and smoother administrative processes. 

Growing import demand: Strong demographics, industrial expansion, and rising levels of consumption throughout a nation all shape import patterns. 

Low or manageable political risk: Stability helps exporters plan with confidence. For most exporters, political risk is synonymous with economic risk.  

Untapped potential: Tools such as the ITC Export Potential Map offer insights into where meaningful opportunities still exist globally. Analyses such as these are crucial in mapping out new areas for your business. 

With these criteria in mind, let’s take a look in detail at some of the markets that stand out in 2026 

Top 7 export markets to consider in 2026

1. Vietnam: A fast-growing manufacturing and consumer hub

Vietnam is one of Asia’s most dynamic economies. It continues to expand rapidly in electronics, garments, furniture, and other manufacturing sectors, which also boosts demand for imported materials, components, and technologies. 

In fact, FTSE Russell recently upgraded this country to Secondary Emerging market status, which signals increasing maturity and openness.

The OECD argues that reducing FDI restrictions, improving infrastructure, and strengthening innovation capacity are key to making Vietnam more competitive and business‑friendly.

Exporters supplying machinery, industrial inputs, food products, and consumer goods often find Vietnam to be an approachable place to start or expand their market presence.  

2. India: A rising import destination with global reach

India continues to be one of the strongest performers in global trade growth. UNCTAD’s trade trends report points to India as a high-growth market with the country also steadily increasing its imports and playing a more prominent role on the import side.

Recent trade data from NITI Aayog shows India importing more from regions such as Latin America and East Africa. This reflects the country’s growing role in global supply chains and its importance under China +1 sourcing strategies.  

Exporters of machinery, chemicals, electronics, packaging materials, and renewable energy components often gain early traction in India. 

3. Indonesia: Strong commodity exports and expanding industrial needs

Indonesia remains a key growth engine in Southeast Asia. 

According to Cybex Exim’s regional data, Indonesian exports grew 12.7% year over year, driven by palm oil, minerals, rubber, and other commodities.

As these industries expand, so does the need for imported machinery, equipment, and supporting services. 

The ITC Export Potential Map also shows opportunities across a range of goods as Indonesia continues investing in infrastructure, digital systems, and industrial diversification. 

4. United Arab Emirates and the Gulf Region: A global re-export gateway

The UAE continues to stand out as an efficient global logistics hub. Visual Capitalist’s trade analysis identifies it as one of the fastest-growing trade partners between 2019 and 2024. The wider Gulf region also shows rising import demand across food, construction materials, industrial inputs, and green technologies. 

The network of free zones, predictable regulation, and strong connectivity make it a natural entry point for exporters looking to reach Africa, South Asia, and the Middle East. Moreover, its strategic location and robust logistics network have made the UAE a central hub for the import of minerals and fuels. 

In 2026, trade continues with the UAE, but with higher costs, delays, and volatility due to the US – Iran conflict.

5. Latin America: Brazil and Mexico as high-potential Buyers

Latin America remains a strong region for companies seeking to diversify beyond traditional partners. UNCTAD’s data on global trade growth shows Mexico and Brazil performing particularly well, surpassed only by India and China.  

Brazil continues to import high volumes of machinery, chemicals, renewable energy inputs, and consumer goods as large infrastructure and energy projects move forward. Mexico benefits from its integration through USMCA and is a major importer of electronics, automotive components, and industrial supplies. 

6. Sub-Saharan Africa with a focus on East Africa: Rapidly growing consumption and infrastructure Needs

East African markets such as Kenya, Tanzania, and Ethiopia are becoming important markets for exporters to consider. East Africa’s trade outlook for 2026–2027 is cautiously optimistic, supported by stronger regional growth, infrastructure investment, and ongoing economic reforms, but the region remains vulnerable to rising energy costs, global trade disruptions, and food insecurity.

The IMF notes that higher fuel, fertilizer, and shipping prices are increasing pressure on trade balances, particularly for oil-importing economies in East Africa.

The region’s main exports are largely agricultural and primary commodities including coffee, tea, horticultural products, minerals, and textiles, while its main imports are fuel, machinery, vehicles, pharmaceuticals, and industrial equipment needed for infrastructure and manufacturing growth. 

7. South Korea: A stable, high value import market 

South Korea is an advanced and predictable market with strong import needs across machinery, electronics, automotive parts, food products, and medical goods. Its close integration with both Western and Asian supply chains makes it a reliable destination for exporters who prefer stable, mature markets. 

 South Korea’s trade outlook for 2026–2027 is moderately positive, driven by strong semiconductor exports tied to global AI and technology demand, alongside a gradual recovery in domestic consumption. However, the country remains vulnerable to slowing global growth, rising trade protectionism, and geopolitical uncertainty.

Semiconductors are Korea’s leading export, while its main imports include crude oil, natural gas, and industrial inputs used in manufacturing and technology production. 

Renewable energy opportunity zones: Brazil and Chile

The renewable energy sector deserves its own mention. Countries such as Brazil and Chile are investing heavily in solar, wind, and battery storage capacity. This creates demand for turbines, panels, inverters, energy management systems, and engineering services. 

The International Energy Agency (IEA) mention continued growth in clean energy infrastructure across LatAm, which can be a strategic diversification route for exporters in green tech, metals, electronics, and industrial solutions. 

How exporters can move from insight to action

Use data tools to validate market fit: Resources like the ITC Export Potential Map, World Bank logistics indicators, and regional trade databases help exporters ground their decisions in evidence and statistics.  

Take advantage of FTAs and tariff benefits: Trade agreements can support pricing strategy and make market entry more competitive. 

Start with a phased entry strategy: Many exporters begin with a distributor, agent, or pilot shipment, then adapt based on feedback and local standards. 

Plan for compliance and risk management early: Preparing for certifications, currency considerations, and political risk improves the odds of a smooth entry. 

Leverage trade missions and government support: Trade missions, export advising programs, and local chambers of commerce can reduce costs and help companies identify partners more quickly. 

What this means for your diversification strategy

In 2026 diversifying your export markets is as much about protecting your business as it is about growth. Vietnam, India, and Indonesia are booming with rising demand; South Korea deliver predictability and logistical efficiency; and Latin America and East Africa are fast becoming regions to watch, with growing consumer markets and long-term potential.

For exporters looking to spread risk and seize global opportunities, these markets are where the next decade of trade is being written. 

The post Top export markets to strengthen your diversification strategy in 2026 appeared first on Trade Ready.

When Sumit Khanna first set foot in the world of customer support at Canon India, he couldn’t have predicted the extraordinary global journey that awaited him. What started as a modest beginning in New Delhi would eventually take him across more than 30 countries, into boardrooms and classrooms alike.

Today, as the Managing Partner of White Cruz International and a respected business instructor in Canada, his story is a testament to the transformative power of international trade—and the value of credentials like the CITP in anchoring that success.

A global calling takes root

After his initial stint at Canon India, he chose to pursue a Master’s in Marketing Management. But it was a decision to learn Spanish at New Delhi’s Spanish Cultural Centre that would significantly alter the course of his career.

“I wanted to enhance my skills and broaden my career horizons,” he says. “Learning Spanish was a stepping stone into international markets.”

That leap came sooner than expected. He joined Eastman Auto & Power Limited as an Account Manager in International Marketing, quickly leveraging his newfound language skills to build trade relationships in Latin America.

“It was my first real taste of international business. I got to combine my marketing knowledge with language and culture, and that synergy was electric.”

His role took him to countries like Peru, Colombia, Argentina, and Ecuador, managing logistics, brand positioning, and competitive analysis. But more than anything, it was the cultural immersion that lit a fire. “Trying local foods, learning about their history, forming personal bonds—that’s when I knew this was what I wanted to do for the rest of my life.”

Leading with language and strategy

To deepen his expertise, he enrolled in an executive Export Management program at the Indian Institute of Foreign Trade (IIFT), India’s premier foreign trade institution. The added credentials opened doors. He soon joined Groz Tools, where he rose to become Head of Latin America Business.

In this role, his leadership helped transform Groz into one of the most trusted hand tool brands in Latin America, Spain, and Israel, driving millions in exports.

“We built the brand from the ground up in those regions. It was intense travel, market research, negotiations, and above all—relationship building.”

It wasn’t all smooth sailing. When he chose to enter Israel, he had to learn a completely new market from scratch. “I studied the region for months before stepping in. It was a challenge, but that’s what made it rewarding. We eventually established a strong distributor network there.”

His success in this role marked him as one of the youngest and most successful export managers in the Indian manufacturing industry. He was soon tapped by a publicly listed manufacturer as Export Head, managing exports of home and automotive lighting products under the “Halonix” and “Phoenix” brands. The company’s subsidiaries in Germany and Luxembourg gave him access to key European markets, while he also managed operations across SAARC nations, the Middle East, and South Korea.

Building bridges across borders

Throughout his career, he has made business travel into a true form of cultural diplomacy. “Being one of the first Indian executives traveling to far-off Latin American markets drew a lot of attention. Buyers were curious about India, our food, our films. I got to answer questions about Bollywood in Spanish!”

Those moments of cultural exchange were more than charming anecdotes, they were the foundation to valuable business relationships.

“Trust is everything in international trade. And trust grows when people see that you respect their culture and are willing to learn from it.”

His travels also gave him memories to last a lifetime. From standing at the equator line in Ecuador to visiting the underground salt cathedral in Colombia. He recalls viewing the powerful Cataratas Falls in Brazil and hiking Machu Picchu in Peru. Each of these unique experiences helped shape a worldview grounded in empathy, adaptability, and curiosity.

Stepping into entrepreneurship and education

With more than a decade of international experience under his belt, he made the leap to entrepreneurship. In India, he founded White Cruz International, an export consultancy and indenting agency representing major brands across the automotive, construction, hardware, and steel industries.

His story took a new turn in 2022, when he moved to Canada and transitioned into academia. Today, he teaches Global Business Management at Trios-Mohawk College and serves as sessional faculty at Trebas-Fleming College in Toronto.

“Teaching has given me the opportunity to give back—to share everything I’ve learned in real-world trade with students who are about to start their global journeys.”

His influence extends beyond the classroom. He’s spoken at colleges across Brazil, Mexico, and India, and recently contributed as an international trade consultant & Spanish language expert for Latincouver, a Vancouver-based non-profit that promotes trade between British Columbia and Latin America.

“It’s one thing to do the work yourself,” he explains. “But when you can help prepare the next generation to succeed in global trade—that’s real impact.”

Recognition, validation, and a future-ready credential

Despite his many accomplishments, he knew that credibility in Canada’s competitive business environment required more than just experience. That’s why he set his sights on the CITP designation. “I wanted something that would solidify my expertise and signal my commitment to the field—not just locally, but globally.”

He earned the CITP through the executive path in 2022, and he describes the moment as deeply personal. “My happiness knew no bounds. It felt like everything I had worked for. Fifteen years of dedication to international trade had come full circle.”

Beyond validation, the CITP designation has offered practical benefits. “It enhances my credibility in Canada and has already opened new doors. It shows clients and colleagues alike that I meet the highest standards in global trade.”

A look ahead

Looking forward, he sees the CITP playing a pivotal role in his evolving career. Whether it’s leading business development, growing his consultancy, or continuing to teach and mentor, the designation serves as both a foundation and a launchpad.

“International trade is constantly changing—new markets, new risks, new technologies. The CITP isn’t just a badge; it’s a reminder to keep learning, stay current, and always operate with integrity.”

His advice for newcomers to the field? Patience and preparation. “Don’t expect quick wins. Learn the culture. Do your homework. The relationships you build—those are what carry you through.”

It’s fitting advice from someone who has built a career by crisscrossing the globe, one relationship at a time. From the bustling markets of Latin America to the lecture halls of Toronto, from brand-building in Israel to volunteering in British Columbia, his journey proves that international trade is more than a business. It’s a way of life.

And with his CITP designation in hand, he’s not just looking back at what he’s accomplished, he’s looking ahead to the next great frontier in global commerce.

The post CITP Spotlight: Sumit Khanna – Managing Partner, White Cruz International appeared first on Trade Ready.

What should you look out for or expect in the international business world in 2018? Let’s take a look and see what could be dominating the headlines you read over the next twelve months.

1. The CPTPP

Though President Trump withdrew the U.S. from the TPP in January, the remaining 11 countries are working to resurrect the deal as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This deal, if signed, would eliminate approximately 95% of tariffs on trade between these countries, who have a combined GDP of over $10 trillion USD.

In November, Canada surprised the other 10 countries by declining to sign the agreement, to the surprise of the negotiators and the Canadian international trade community. However, amid efforts to diversify exports beyond the American market, it seems unlikely that Canada will continue to drag its heels on an opportunity to gain preferential access to the Japanese market in particular. Expect any final issues to be resolved and the CPTPP to be signed sometime in 2018.

2. Ongoing, contentious Brexit talks

By December 2017, the UK has completed the first phase of Brexit negotiations with the EU, covering issues such as the Irish border, citizens’ rights and financial settlements. The second phase of negotiations will cover the UK’s transition period after formally leaving the EU in March 2019. Discussions over the long-term relationship between the UK and EU will be included in phase three.

This process was complicated on December 13, when several Conservative British MPs joined the opposition to vote for an amendment requiring British Parliament to debate and vote on any final deal with the EU before it can be approved.

The second phase of Brexit negotiations are planned for 2018, and are expected to present few greater challenges than the first phase. The final phase on the long-term relationship between the UK and EU, however, presents several important questions about economic integration and free trade that Britain’s politicians and citizens have not yet agreed upon.

With two sets of challenging negotiations, and the extra hurdle of parliamentary approval, the odds that talks will drag into the final three months before the UK leaves the EU on March 29, 2019 remain high.

3. Sustainable, cleantech exports

If you’re involved in the clean tech and sustainability sector, 2018 should be a strong year for you. Despite the U.S. withdrawal from the Paris Agreement, global regulations are still trending towards stricter environmental and emissions regulations, requiring businesses to invest in cleaner technology in order to meet those standards. According to EDC President and CEO Benoit Daignault, total global investment in cleantech has now exceeded $1 trillion and will reach $2.5 trillion by 2020.

Canada in particular is placing great emphasis on this industry. The Canadian government promised $1 billion towards clean tech in its 2017 budget for R&D. The Trade Commissioner Service is also hiring 15 new Trade Commissioners to focus specifically on cleantech.

4. India, Brazil, and New Zealand – the rising stars of global trade

If you’re looking for new markets over the next 12 months, Morgan Stanley recommends you take a hard look at India. They argue the country’s increased digitization, new tax laws and younger demographics present a bright future, and predict 7.5% GDP growth in 2018. Morgan Stanley also predicts that India will be the world’s fastest growing economy over the coming decade.

Brazil will also see a quick recession recovery, growing an expected by 3.1% in 2018, according to the Brazilian government.

If you’re more interested in fully developed markets, Forbes ranked New Zealand second on its 2018 Best Countries for Doing Business rankings, citing its 3.6% economic growth in 2017, among other factors. The country also ranked highly in several categories for ease of doing business, including first in IP rights, bureaucracy/red tape levels surrounding business, and Transparency International’s Corruption Perception Index.

5. Meaningful action to reduce oil dependency

As Venezuela continues to suffer through the collapse of its oil-dependent economy, and the U.S. plans to become a net exporter of oil within 10 years, several oil-dependent economies are taking steps to diversify their economies.

In Russia, Putin’s approval levels are dropping as the economy struggles through lower oil revenues. Despite making fiscal changes to reduce the national budget’s dependence on oil revenues, he may push for new measures to improve his chances in the country’s 2018 presidential elections.

Saudi Arabia has plans to sell about 5% of Saudi Aramco, the state-owned oil company, through an IPO in 2018 and expects to generate up to $100 billion for the country’s Vision 2030 program, designed to shift the Saudi economy away from oil dependency towards tech and entertainment services.

Nigeria and Angola, meanwhile, are looking to agriculture to reduce their oil dependency issues. Nigeria, dependent on oil for 70% of government revenues, has launched a new program to increase yam exports to Europe and the U.S., as the country produces 60% of the world’s yams. Angola are instead focused on a broader approach to tap into their agricultural potential, which includes producing more cereals, milk, chicken, cassava, and other products.

6. Banks taking on blockchain

It is practically impossible these days to tune into the business or financial news and not hear a story about the latest blockchain or cryptocurrency development. Blockchain technology, allowing multiple players to have access to a live, unalterable digital ledger, offers game-changing possibilities for international trade finance. In 2018 this buzzworthy fintech is moving beyond Silicon Valley start-ups, into the mainstream world of global financial institutions.

In March, 2017, we reported on how banks were working to bring the advantages of blockchain technology to their corporate clients. In May, the R3 Consortium, made up of of 70 of the world’s biggest financial institutions and created to research and develop blockchain adoption, announced it had secured its largest ever investment. Then in October 2017, seven major banks partnered with R3 and Finastra to develop a blockchain-based marketplace for syndicated loans. On December 6, Amazon joined the blockchain party, announcing a partnership with R3 to allow the Corda platform to be the first distributed ledger technology to operate on the Amazon Web Services Platform.

What will we see in 2018? Swiss global financial company UBS has led an initiative to create a “utility settlement coin” that would represent each major national currency. If this coin is launched, the Corda platform could be adapted to facilitate its use.

IBM is working on launching their own blockchain platform that would allow banks to rapidly clear global payment transactions. There are also several start-ups working on digitizing the bill of lading process.

2018 could be the year some of the blockchain-based payment initiatives move from development to adoption.

7. Adoption of futuristic supply chain technology

Machine learning, automation and robotics, self-driving vehicles, new tracking technology – all of these futuristic supply chain tools will see major developments and implementation in 2018.

The past year was a big one for self-driving vehicles, culminating with the reveal of Tesla’s new fully electric semi, gaining pre-orders from big players such as PepsiCo, UPS and Walmart. Companies invested over $1 billion into self-driving and other trucking technologies in 2017.

Speaking of investing in supply chain technology, over $4 billion was invested in AI by U.S. venture capitalists in the past year. One application that has seen immediate return for companies adopting machine learning capable AI is Multi-Echelon Inventory Optimization (MEIO), which has been shown to reduce inventories by 30% while maintaining or improving customer fill rates.

Robots will also continue to play more of a role in warehouses in 2018. While some are increasingly capable of working independently, replacing human workers on the floor, others are working alongside humans, or being controlled by humans using VR applications. There’s no doubt that the demand for the skills needed to work with robotics will continue to rise in the year ahead.

8. Planning for the possibility of a world without NAFTA

The sixth round of NAFTA talks is set to kick off in Montreal January 23. But as the negotiations near, there doesn’t seem to be a lot of positivity. The first five rounds reportedly saw very little progress, putting even more pressure on this next round.

What’s the problem? The U.S. is seemingly immovable on five issues that pose major problems for the agreement’s other two member countries, Canada and Mexico.

The five issues include:

• Removal of reciprocity in government procurement at the sub-national level
• Changes to the rules of origin in the auto sector
• Elimination of the independent dispute resolution clause
• End of Canadian supply management of the dairy, eggs and poultry industries
• Addition of a “sunset clause” on NAFTA itself

“NAFTA, by itself, will not collapse,” said Mexico’s Economy Minister ldefonso Guajardo in October, but even if Mr. Guajardo is right, it may change drastically from what we have in place today.

If this really does spell the end of NAFTA, the Canadian auto, pulp and paper, chemicals, mining, aerospace and oil and gas industries are likely to be most affected, according to BMO chief economist Douglas Porter.

Even without NAFTA, trade between the three nations is inevitable. Supply chains between Canada and Mexico criss-cross the U.S. How businesses adapt to the realities of a new – or non-existent – NAFTA, is something we’ll be watching closely in 2018.

9. Cyber threats and IP risks

As technology gets more sophisticated and ingrained in our work and personal lives, so too does the threat of cyber security breaches, which in turn compromises our intellectual property. Sixty-four percent of companies surveyed reported some experience of web-based attacks in the past year. Companies of all sizes are targeted and face the risk of cyber threats from simply being connected to the internet. And the costs are large – the average cost of a data breach in Canada is a jaw-dropping $6.03M.

So what types of threats are growing in 2018? Phishing, social engineering attacks, malicious code, botnets, denial of service attacks and ransomeware are all on the rise.

Ransomware in particular is growing in frequency, attacks rose an alarming 50% in 2016. Demonstrative of the damage a ransomeware attack can cause was the aftermath of the WannaCry attack in May 2017. Hundreds of thousands of individuals lost access to their data, compromising intellectual property, private customer information, and disrupting commercial processes.

As a business, it has never been more crucial to include cybersecurity programs directly in your strategy, and engage IT professionals to help cover all aspects of your web-based properties.

10. Demand for global trade skills higher than ever

Despite continuing turmoil and uncertainty on the global political stage, Canadian businesses still hold an optimistic outlook about their export opportunities. According to Export Development Canada’s Fall 2017 Survey, the majority of respondents believe that export sales will increase in 2018, citing new opportunities, growing demand, and expansion into new markets as stimulating factors.

As more businesses of all sizes get involved in international markets, the demand for talent skilled in global trade processes, is also growing.

“We hear from exporters all the time that knowledge is one of the most important tools for building international success,” said EDC Senior VP, Business Development Mairead Lavery.

In 2017, the FITTskills international trade training program underwent a major update, including the addition of 60% new content to reflect the changes we’ve seen in technology, ecommerce, trade agreements and more. In October, FITT also partnered with EDC to expand access to the available resources for businesses of all sizes looking to take advantage of international opportunities.

There’s no doubt that we all face an exciting year ahead, full of innovation, an ever-shifting global political environment, and risks, alongside ample new opportunities for business growth.

What trends will you be watching in 2018?

The post 10 global trade trends we’ll be watching in 2018 appeared first on Trade Ready.

As a committed and talented logistics professional today, it’s little wonder that the intricacies of trade and transportation already interested Ronak Patel at a young age in India.

“Since I was a kid, I was always passionate about learning how importing and exporting works and how the world relies on international trade. Even if you take a look back through history, all of the old civilizations were developed and grew near rivers and oceans – one of the purposes was transportation of goods and people.”

Ronak initially studied commerce, accounting and finance at the HL Institute of Commerce in Ahmedabad, but wanted to continue his studies internationally to improve his knowledge of global business and other cultures. To do so, he moved to Canada in 2013 and took FITT’s training through St. Clair College in Windsor as part of his post-graduate program there.

“Taking FITTskills courses was one of the greatest decisions in my career. It was a vast learning experience of how international businesses work with various supply chain models. With these courses, I acquired a great deal of technical terms and theoretical knowledge I have, and they continue to help me build bridges to the real, practical international business world.”

Improving the day-to-day aspects of logistics in one of Canada’s biggest cities

After graduating, Ronak moved to Vancouver, where he took on a couple of different jobs before settling into his current role.

“I worked in the back operations of a warehouse, as an air freight forwarder in perishable goods, then as a truck dispatcher. In January 2015, I earned the position of Logistics Coordinator/Commodity Planner with Natu’Oil Services Inc., and still work there today.”

At every step of the way, Ronak has found his work equally exciting and educational, improving his understanding of supply chain management and logistics.

“Working in various parts of the supply chain and gaining experience in operations, I have greatly increased my knowledge of the full supply chain model and how product is transported from suppliers to end users. This has helped me to understand how international business is conducted by freight forwarders. In each mode of the supply chain, thousands of people are involved to make supply chain smoother, quicker and successful. The hurdles involved demonstrate that in supply chain, you learn to always expect the unexpected, and that no two days are ever the same. ”

While he has possessed an understanding of the importance of logistics from a young age, experience has also taught him the wide-ranging effect that both positive and negative developments in the supply chain can have for many professionals. The Oxford English Dictionary defines problem solving as ‘the process of finding solutions to difficult or complex issues’, which he explains is just the average working day for those in the logistics industry.

“International business is truly defined by the supply chain model. In each supply chain process, thousands of people are working 24/7/365 all over the world to make supply chains smoother, quicker, and more result-oriented and successful. If any person screws up at any point in the supply chain, thousands of businesses or people will be affected. So always keep yourself conscious, aware and patient. Supply chain is one of the largest industries in the world and millions of peoples’ families are depending on it.”

It’s so important to be aware of what’s going on around you all the time, and keep yourself patient and calm when trying to understand and manage all of the many aspects of logistics operations.

As his company specializes in oil, and the easiest way to transport it over long distances is often by train, Ronak has been involved in a couple of massive logistics projects involving rail transport.

“One of the most interesting projects I have worked on was the transportation of bulk oil from a storage tank at the Harvey petroleum/chemical terminal in New Orleans to transfer into rail cars. We had to follow all rules and regulations to make the process a smooth and successful one.”

“Another one was importing palm oil in bulk from Asia in ISO standard tank containers. Once the containers come to the origin port of Long Beach, CA, we had to arrange drayage to take it to the heating facility. After the required heating level was reached, as per the product density and melting point, we then transferred the product into rail cars (which can accommodate 4 ISO tank containers worth of product) for the customer’s facility hundreds of miles away from the port. This sounds simple but it is the most complex logistics operation I have ever worked on, because of the nature of the product, the number of parties involved, the legal and safety regulations, and the need for on-time delivery.”

The path towards making his business dreams come true

After accumulating over two years of international trade experience, Ronak decided he wanted to apply for FITT’s Certified International Trade Professional (CITP®|FIBP®) designation, and is excited about how earning it will now help his career going forward.

“My professor Floyd Simpkins, CITP|FIBP had told us about the CITP designation in St. Clair College in 2013, and I had wanted to apply for it ever since.”

When I earned it, I felt honoured and excited to be a part of the CITP family. Only time will tell how vital a role this designation will play in my future career, but I am optimistic that it will give a rocket-like boost to my career.

Ronak remains excited about working in supply chain management and logistics, but also has a long-term goal of starting his own international business and help small business owners in developing countries.

“One of the main reasons I want to start my own international business is so that I might help to provide solutions and remove all hurdles for people in countries around the world. After growing up in a rapidly developing country such as India, I am familiar with the difficulties that small business owners are facing, in terms of importing and exporting.”

“I would like to make international business convenient and flexible for even the smallest growers, traders, manufacturers, and refiners, who can come and get the help, advice, and knowledge in their regional languages affordably. I want everyone to be able to support their economy by importing and exporting, as well as exchanging their goods, talents and skills.”

With such noble aspirations and the skills to make them become a reality, we’re excited to see how Ronak’s career progresses, and the ways in which he’ll continue to take on and succeed in new challenges.

The post Ronak Patel, CITP|FIBP – Logistics Coordinator appeared first on Trade Ready.

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.

Varun started in international trade in 2008 by joining the Department of Foreign Affairs and International Trade at the Consulate General of Canada in Mumbai. Varun took the position of Trade Commissioner Assistant in August of 2008. The job was daunting, as Varun was new to the world of international trade. His colleague’s use of tongue-twisting jargon nearly pushed Varun away from international trade completely.

However, Varun always saw himself as a lover of challenges so he got to work, learning all the ins and outs of international trade. Varun applied himself and, by 2010, was given the opportunity to develop the agriculture and agri-food sector in West India on behalf of the government of Canada.

Building a strong relationship between two nations 

Varun received substantial support from Agriculture and Agri-food Canada as he worked to build up this new sector in West India. As the project intensified, Agriculture and Agri-food Canada made the decision to promote a trade commissioner, whose sole focus would be to build this new sector. Their choice for the job was obvious.  Varun was selected from a multitude of candidates, due to his innate knowledge of the Indian market and his proven track record with Agriculture and Agri-food Canada.

After his promotion in 2012, Varun led industry delegations from India to Canada, exploring new opportunities across the agriculture and agri-food sector to establish trade. Varun worked with multiple clients across Canada to help them thrive in the Indian market. Varun expertly helps his clients enter the Indian market by offering his fundamental piece of advice.

Canadian clients, who are brand new to the Indian market, come to India and are thrust into the complex regulatory framework. They go through what I would call an ‘international trade culture shock.’

“But it’s my job as trade commissioner to administer a ‘dose of patience’ to my client when he/she looks at the Indian market. The ‘dose of patience’ is what helps any client, be it Canadian or an international exporter and manufacturer, to successfully enter potential-filled, but yet regulatory complex, markets like India.”

Varun is now working as an Agricultural Specialist for the U.S. Department of Agriculture, based at the U.S. Consulate General in Mumbai.

In his present role, Varun takes the lead on the marketing file for USDA’s presence in India. He works with American companies, exporters and manufacturers in the agriculture sector to identify opportunities in the Indian market and guides them to enter this key market.

Called on to assist in a frightening international situation 

Varun’s career has seen many highlights, but one always sticks out in his mind. Varun was only at the Canadian Consulate for three months when a significant challenge presented itself. Mumbai was struck by a three-day long terror strike, during which several Canadians were caught in the cross-fire. The Canadian Consulate was brought in to render services to the Canadians effected.

During the terror strikes, the Consulate General asked Varun to visit with a Canadian who had been shot multiple times during the attack. Varun visited the Canadian as he recovered in hospital and had his eyes were opened to the harshness of life.  Varun continually checked in with the wounded Canadian until he recovered and was released from hospital.

The following year, Varun and a few of his colleagues were recognized for their incredible work during the attacks. Prime Minister Stephen Harper presented Varun and his colleagues with a personal appreciation letter.

“It was the proudest moment of my career because I was fortunate to be one of those who served Canadians caught in the cross-fire and I was found worthy to render support to humanity. I still display the personal letter from Prime Minister Harper on my desk, to always remind me of the time when my career in international trade brought me face-to-face with citizens of the world. They were in peril and, in a small way, I was able to contribute and rekindle their faith in life. This was life in international trade and life couldn’t be better.”

“In my daily role as a Trade Commissioner for Agriculture and Agri-Food, the most rewarding and the proudest moments of my job was when a client who I have advised, guided and worked with to enter the Indian market actually does successfully enter the market and has their quality Canadian products placed on the retail shelves of this dynamic, diverse and complex market.”

Honoured and equipped to serve his clients 

Varun had already developed considerable skills in his role as trade commissioner, yet he wanted to enhance them even further. The FITTskills courses offered Varun exactly what he was looking for. Varun earned his FITTskills diploma, which set him on the path to his CITP®|FIBP® designation.

I truly believe that attaining the CITP®|FIBP® designation is the attainment of Nirvana in international trade. Ever since I became a trade commissioner, my eyes were always set on achieving this prestigious designation, which could only be derived by years of dedicated service and client engagement within the industry.

“I knew the path to attaining this designation would mean I would have to excel in my job as trade commissioner. It meant I would have to excel in giving my clients the best possible service, which would enable and prepare them to enter international markets.”

When Varun finally did earn his designation, he had only two words to describe the experience.

“Honoured and equipped. Honoured to be a holder of the elite CITP®|FIBP® designation and equipped to take on the world of international trade with my new designation.”

Varun sees the CITP®|FIBP® designation only enhancing his career moving forward.

The designation has equipped to best serve my clientele on a daily basis.

“The attainment of this designation has taught me the excellence required by every international trade practitioner to be successful at connecting the dots that make up this enormous global industry. My clients have a greater trust and know they are being serviced at the highest standard possible.”

Receiving his designation was also a major part in securing his current role with the USDA.

“Obtaining my designation was very instrumental in me getting this breakthrough in the USDA. The certification formed a key part of the resume and application package. They wanted more information during the actual interview about this designation and were very impressed when I filled them in about the details of this key designation. The FITTskills training polished me up and I still refer to my textbooks when I interact with clients and industry to understand how better I can serve them.”

The post Varun Anthony, CITP|FIBP – Agricultural Specialist appeared first on Trade Ready.

Although the RCEP has been in negotiation for several years, its significance has increased sharply following the decision by President Trump to pull the United States out of the Trans-Pacific Partnership on his third full day in office.

The TPP was signed on February 4th, 2016, involving 12 nations including the United States. However, there was a major disagreement between the Obama administration and the Trump administration about whether or not the TPP is favorable for America.

The result is that America has now pulled out of the TPP. Following America’s exit from the agreement, the RCEP has the potential to replace it as the dominant trade deal in the Asia-Pacific region.

Who would be included in the RCEP?

While the deal has not been finalized yet, the following nations are all said to be potential members of the RCEP.

South Korea                             Singapore

Japan                                        Brunei

China                                        Thailand

India                                          Indonesia

Myanmar                                  The Philippines

Vietnam                                    Australia

Cambodia                                 New Zealand

These 16 nations have a combined population of 3.27 billion people, or 46% of the world’s population, and a GDP of approximately 19.2 trillion dollars – 24% of global GDP.

What are the most significant implications of the deal?

One of the most significant implications of the RCEP is that the world’s two most populous nations, India and China, would be involved in a large trade bloc. Neither of these nations are a part of the TPP.

The RCEP is set to cover trade in goods, services, and investments, intellectual property issues, economic and technical cooperation, dispute settlement, competition, and a number of other concerns. This deal would be a landmark trade development in the western Pacific region.

The RCEP covers many of the same issues as the TPP, but does not contain as stringent protections for human rights, labor, and the environment as the former agreement.

Ultimately, the RCEP could create one of the largest free trade zones ever enacted and lead to an unprecedented amount of trade activity between member nations. However, both workers and the environment may not enjoy the same protections as they would have had in deals like the TPP.

China and America are moving in opposite directions on free trade

The greatest driving force behind the RCEP appears to be the fact that the leader of the United States believes that it is not beneficial for the country to be involved in enormous multilateral free trade deals, unlike China.

In fact, President Trump campaigned on a platform of opposition to both the TPP and NAFTA, a free trade agreement between the United States, Canada, and Mexico. President Trump even went as far as to call NAFTA “the worst trade deal the U.S. ever signed.”

Trump’s primary opposition to free trade deals is that he believes American workers are losing too many jobs to cheap outsourced labor. In other words, he wants to keep more jobs inside the U.S. Trump has also accused China of currency manipulation, and has stated that the U.S. needs to be reimbursed more for the security it provides around the world.

A combination of all of these things means that the world of international trade could see some major shifts. The U.S., the nation with the world’s largest economy, looks likely to take a much more protectionist stance on trade in the near future.

Perhaps because many jobs flow there due to cheap labor, China appears to be very open to free trade. China has the world’s second largest economy, with a GDP of $15.26 trillion (2016). Considering that Japan has the third largest, and India has the seventh largest, a trade deal involving all three of these nations could be very powerful.

What does this mean for the future of international trade?

The RCEP has not yet been formally signed, but there is a good chance it will go through. In fact, Ganeshan Wignaraja, an advisor with the Asian Development Bank, said “An RCEP agreement seems probable in 2017 due to intensified negotiations.”

So, in the near future, the Pacific region could be dominated by a free trade haven that connects India and Australia with China and many other Asian nations, while the United States adopts increasingly protectionist measures on the other side of the Atlantic.

Countries who wish to trade with the United States in this new era could find themselves facing a new barrage of tariffs, taxes, and duties. It may also be significantly more difficult for American companies to outsource jobs to Asian countries, as the Trump administration looks for continued ways to protect American jobs at the expense of new multilateral trade deals, which would have the potential to create new jobs both in the U.S. and in other countries.

Whether or not other Pacific nations such as Mexico and Canada will ever join the RCEP is yet to be determined. However, if Trump also pulls the United States out of NAFTA, then these two nations may be eager to seek new free trade deals and look to the RCEP in its place.

By pulling out of the TPP, President Trump claims to be doing what he believes is in America’s best interest. However, it was estimated that the TPP could have brought the country an extra $77 billion in revenue per year. So, in order for America to make up this lost revenue, it will have to bring in a substantial amount of money from tariffs, and keep a   jobs in the country.

The tectonic plates of the international trade world are shifting. Once key decisions are made about the RCEP and NAFTA, the trade landscape could be entirely redefined, creating a whole new set of parameters for companies to consider as they do business internationally.

The post What is the RCEP and how could it affect global trade? appeared first on Trade Ready.

India

Here’s some advice based on my own experience that will give you an advantage over your competitors as you make the first steps towards success in India.

1. Find the right partner

India is the world’s seventh largest economy in terms of GDP, and has a population of 1.3 billion people. It is a complex market for the best Indian companies, and even more so for companies from abroad. Businesses with a pre-determined mindset and less exposure to international markets might find the commerce culture in India too intimidating.

Identifying the right partner goes a long way in successfully navigating the complexities of the local business environment for a new entrant into the Indian market. A local partner can provide much-needed assistance in understanding the Indian market. This partner can give you valuable market insights on competition, regulation and other important issues. They can also introduce you to the network with the reach to target prospective clients without much investment on the ground.

2. Localize your products to meet consumer needs and preferences

India is a vast and diverse country encompassing many different identities, languages, cultures and religions. It is important to avoid making generalizations or assumptions, as local practices and consumer behavior may vary substantially from region to region.

Since India has such a pluralistic, multilingual society, more often than not, a one solution fits all approach doesn’t work.  Even a global bigwig like McDonald’s had to localize its product offerings based on the fact that half of Indians are vegetarian. They also have to leave their most popular item, beef burgers, off the shelf given the religious sensibilities of the Indian population.

3. Remember the high level of price sensitivity

It is extremely important for a new entrant into the Indian market to get its price strategy right, particularly if it’s targeted towards the low and middle income populations. Even with a growing economy and a burgeoning middle class, there’s no denying the fact that India is still a low middle income economy, with a per capita income of around $2,000 and a huge population still living below the poverty line.

Since the government cannot afford to provide for education and healthcare coverage, the majority of the population has to pay for these necessities from their own income.  With little disposable income left after covering basic amenities, there’s not much money left in the hands of a significant portion of the population. This makes the market price sensitive as many people need to spend judiciously.

4. Enter the Indian market for long-term growth, not to make a quick buck

India is certainly not a place for businesses to make quick gains – you need to be invested for the long haul. Although it’s a huge market with a population of 1.3 billion people, including 400 million middle class consumers, it has its share of challenges when it comes to market entry.

Because India is such a huge and attractive opportunity, there is no dearth of competition. More often than not, you have companies looking for market share and compromising on potential short-term profitability in order to establish themselves more firmly there. Given the complexity of the market, it takes time for the companies to understand the environment and develop the right strategy.

5. Prepare to navigate a much different legal and regulatory landscape

The Indian judicial system follows “common law”, and the constitution has provided for a single integrated system of courts to administer both union and state laws.

Due attention should be paid, including seeking professional advice, before entering into a formal agreement. Court judgements are often delayed because of the huge backlog of cases, so any agreement should provide the scope for alternate dispute resolution mechanisms.

Have any experience building your own Indian market entry strategy? Add your advice in the comments for others who may be entering for the first time!

The post 5 tips for a better Indian market entry strategy appeared first on Trade Ready.

Kiran Sharma, CITP|FIBP, is the Job Cost Administrator for AECOM, a company focusing on providing architectural and engineering management in international markets, in Regina.

With over a decade of experience working with international clients and managing business finances, Kiran is committed to excellence in her work and continuing to develop her career.

Captivated by the details of international trade

After completing her Bachelor of Science and Master of Human Resource Development degrees, Kiran saw international trade as an intriguing opportunity she wanted to pursue.

“I was fascinated by the intricacies of trade across the borders, which made me take it up as a profession,” she says.

Kiran thus began her international trade career as an Exports Coordinator for Ritz International, who supply, manufacture and ship fabrics in Surat, India.

She primarily dealt with clients in Dubai and Indonesia, managing their letters of credit, foreign exchange contracts, and freight forwarding documentation to ensure all exports to those markets happened smoothly.

She remained in the role for over three years, before moving on to become a Research Analyst for Perfect Financial Consultants in Ankleshwar, India, where she focused mainly on equity markets.

Starting a new life in Canada with a new skillset

Kiran decided to leave her job in 2009 to move to Canada because she wanted to pursue new opportunities in North American business markets. Once she moved, she also took FITT-accredited courses from Georgian College in Barrie, Ontario.

She really enjoyed how the courses were tailored to offer knowledge and practical skills that she could apply directly to her career.

FITT courses are very well designed with a practical approach to every aspect of trade and business. This gave me a better understanding of the policies and procedures that I came across during my professional journey.

Kiran took advantage of several opportunities to put her learning into use immediately. She was able to help Ontario-based Emergency Management Inc. implement business and marketing plans to begin doing business in India. She also helped a Canadian telecommunications company to put together a business plan to work with Singapore-based telecommunications giant Singtel.

She put her knowledge to further use creating plans for other Canadian companies to take advantage of lucrative export opportunities in France and Australia.

Taking advantage of big opportunities in China

As she was finishing her FITT courses, Kiran took on a very exciting new opportunity in China.

The highlight of my career was when I got an offer for an internship with one of the leading IT recruitment firms in Shanghai to analyse the aspects of international HR pertaining to recruitment and immigration.

During her two month internship, Kiran designed and implemented new techniques to bring in top level recruits. She conducted market research into the Chinese communications market to create a business strategy to help meet growing future demands.

Busily working her way to the top of her profession

With her education and extensive experience, Kiran moved into a new position in August 2011 as a Financial Advisor for CIBC in Regina. Able to balance personal loan, mortgage, and credit requests with managing personal and commercial investment portfolios, she scored in the top quartile for revenue targets and anchor product sales.

In January 2012, she also took on a second part-time position as a Financial Administrator for Loblaws, managing payroll, sales performance and payment methods for a year.

“I am a workaholic and managed my work efficiently, although I worked 7 days a week.”

In 2014, Kiran chose to take her current role as Job Cost Administrator with AECOM. She has now been in the job for nearly a year, and excels at providing cost analysis, and reports on job progress, ensuring projects are being completed within their budgets, on time, with all of the necessary paperwork and reports in place.

Committed to becoming one of the global trade elite

Kiran applied for the elite CITP®|FIBP® designation to demonstrate her expertise and commitment to her profession.

“I truly believe the CITP®|FIBP® designation sets you apart in the competitive international business industry because it’s proof you possess the competencies global business experts have identified as being essential for a successful career in international trade.”

“It also recognizes your dedication to ethical business practices and ongoing professional development—both of which are desirable traits for today’s global business practitioners.”

She says that now that she has her designation, “it feels like a dream come true,” and that she is excited to network with her fellow CITP®|FIBP®’s.

“The CITP®|FIBP® designation will provide me access to professionals with expertise in a similar field and enhance my future options to be a leading player in International Business. I feel proud to be a part of the CITP®|FIBP® family, and invigorated to pursue the ambition of international trade development.”

The post Kiran Sharma, CITP|FIBP – Job Cost Administrator appeared first on Trade Ready.

Scott Miranda, CITP®|FIBP®, is an international business graduate with a background in the global in-flight travel retail industry, business development and international marketing.

His love of travel and passion for global politics inspired Scott to dedicate himself to a career as an international trade professional.

Taking international retail sales sky high

Scott completed his first degree in Political Science at McMaster University in 2006. Upon graduating, he began a role as a member of an Air Transat cabin crew that would give him access to travel and interaction with people from all over the world.

As part of the in-flight crew, he excelled in retail sales in a unique environment, and earned recognition for his sales achievements and customer service from DFASS Group, Air Transat’s duty-free service provider.

In 2007, Scott earned a post-graduate certificate in International Business from Sheridan College, one of FITT’s educational partners. Of his time at the college, completing FITT-accredited courses he says,

I had a great experience completing FITT courses at Sheridan. FITT allowed me to understand the language of international trade, from Incoterms to letters of credit.

He then put his experience working in international travel, and knowledge in global trade, to good use as Global Mobility Programs Coordinator for Research in Motion (Blackberry). In this role, he advised employees on immigration requirements for business trips abroad and assisted in employee relocations.

Bringing his international sales and marketing skills to the Middle East

It was in 2008 that Scott took a leap in both his career and his international experience, moving to Manama, Bahrain to open the Middle East office of the DFASS Group.

He was tasked with managing the onboard duty free program for Gulf Air, which included overseeing more than 30 suppliers and managing customs bonded warehouses, ensuring they were complying with Bahrain’s specific customs requirements.

In this role Scott was able to use much of his FITTskills training, being involved in the logistics, marketing, management and planning of the office’s first year, which was a great success.

Throughout his time in the Middle East Scott has had countless adventures, including this incident:

“It was the middle of summer in Bahrain and the temperature was 40 Celsius (without the humidity). I had just completed a marketing presentation with Gulf Air and my colleague and I were driving to lunch.

On a busy highway my car shut down, coming to a standstill. I realized I had just run out of gasoline….in the oil-rich Middle East. The irony.

The following year, Scott was promoted to Regional Director of Operations, Middle East for DFASS Group. The role involved taking on business development responsibility for Central Asia, North Africa and the Persian Gulf.

He introduced the DFASS onboard retail solution to airlines in UAE, Kuwait, Libya and Kazakhstan, traveling all over the Middle East and maintaining relationships with regional and global travel retail vendors. He also launched a duty-free pre-order website for Gulf Air, acting as the liaison between DFASS web developers and Gulf Air’s e-commerce marketing team.

Focusing on business development in ‘Incredible India’

In 2012, Scott joined Duty Free Partners (DFP) as Vice President, Business Development, Asia, to oversee the launch of Air India’s duty free retail program. He met frequently with airline stakeholders, legal counsel and government officials to ensure compliance with all local regulations. He found it to be a challenging and incredibly rewarding experience.

Scott shares an example of how a typical day can turn extraordinary so quickly in India.

“I was having lunch with my staff at the Radisson Blu in Delhi. Following lunch, we noticed a commotion at the lobby entrance. Thinking it was a wedding reception, I waited patiently for the crowd to dissolve.

And then suddenly the Dalai Lama walked into the hotel, 5 feet away from me. I was shocked. All I could think was what was the etiquette for taking pictures?

“As they say, ‘Incredible India’.”

Going home and growing his credentials

After all of his success abroad, Scott moved back to Canada in 2013 to take on a role as Account Manager with DFP in Mississauga, where he was involved in opening the first duty free outlet at Billy Bishop Airport.

Despite all of his success in travel retail, Scott decided he wasn’t done learning everything there is to know about international trade and development. He completed his Bachelor of Arts in Geography at McMaster University in 2015 and earned his CITP®|FIBP® designation in April.

Scott says he values earning his CITP®|FIBP® designation because it validates his experience and expertise in global trade and exports to prospective business partners and clients.

I chose to apply for the CITP®|FIBP® designation because I wished to formalize my international trade credentials. To a prospective client or employer, the designation represents a wide range of very applicable knowledge.

He is also looking forward to becoming connected to the community of global trade experts that are represented by the CITP®|FIBP® designation.

“I am very interested in taking advantage of the networking opportunities available to CITP®|FIBP®’s.”

Scott is currently focused on completing an MBA program and continuing his dynamic career in international trade – when he isn’t busy competing in road races, surfing in Morocco, or trekking in the Himalayas.

The post Scott Miranda, CITP|FIBP – International Trade Professional appeared first on Trade Ready.

These markets remain an unprecedented source of economic growth across various industry sectors, and hundreds of millions of households will continue to join the ranks of the middle-class consumers in the years ahead.

According to the Monitor ICEF, while definitions and classifications of ‘emerging markets’ may vary, the general view is that the BRICS nations and a number of non-BRICS emerging markets (such as Indonesia, the Philippines, Vietnam, Mongolia, Myanmar, Nigeria, Ghana, Morocco, Turkey, and Mexico) will play a prominent role in shaping the new international trade environment.

Predicting future economic growth in emerging markets

Consider what the Monitor ICEF has to say about the growing economic power of the emerging markets:

• Between 2004 and 2013, the BRICS economies doubled in size and now collectively account for 21 percent of global GDP and 53 percent of emerging market GDP.
• Last year, emerging markets were home to 85 percent of the world’s population, and 90 percent of those under age 30. Their total population is expected to grow at three times the rate of developed economies between now and 2020.
• The BRICS countries are home to 268 million households with an income over US $10,000—a figure that is more than the US and Eurozone combined.
• Estimates from The Boston Consulting Group and the global consulting firm McKinsey & Company further predict that the middle class income group in the Association of Southeast Asian Nations (ASEAN) region will exceed 100 million people by 2020.
• McKinsey & Company has forecasted that 128 million African households will earn US $5,000 a year or more by 2020, enabling them to spend half their income on non-food items. Furthermore, Africa’s middle class families—those earning US $20,000 or more—outnumber India’s.

A shift in the central players in international trade

These powerful statistics help us better understand why the emerging markets are more important today than never before, for three main reasons:

1) Rising incomes is a real driver of emerging market economies

The Boston Consulting Group projects that in Turkey, an additional 6 million households will enter the middle and affluent classes in the next five years.

In Indonesia, they project that 68 million people—roughly equivalent to the entire population of the UK—will make a similar leap by 2020.

Thirty-seven percent of Brazil’s 60 million households will belong to the middle and affluent classes by 2020, compared with 29 percent now, and will represent a US$1.2 trillion market.

In China and India, such households will represent US$10 trillion in buying power.

2) Transformation of the emerging markets’ business ecosystems is directly affecting business models in developed countries

In most emerging markets, domestic companies with low cost structures and more advanced knowledge of local consumers are quickly improving their operations.

These young and dynamic companies are also becoming more aggressive in moving onto the world stage and in competing with the companies in the developed economies.

As emerging markets develop further, we should expect that companies based there will continue to expand their presence and compete with companies in developed countries with low-cost production.

They will be growing by invading the traditional territory of industrial countries and fine-tuning their capacity to manufacture increasingly sophisticated products and services.

3) Integration of the emerging markets’ financial institutions is reinforcing their status as central players in international trade

This new trend would allow developing countries to grow in a more financially integrated fashion and provide themselves with a competitive edge for conducting commercial operations by relying on their own financial centers and currencies.

The newly created New Development Bank operated by the BRICS states, for example, stands as an alternative to the existing US-dominated World Bank and International Monetary Fund.

How can businesses identify which emerging markets represent the best opportunities for their needs?

The post 3 ways emerging markets are aggressively re-shaping the international trade environment appeared first on Trade Ready.