Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
The following factors should be considered when developing a market entry strategy:
- Importer Solvency: Although the currency conversion reform provided access to liberalized foreign currency, importer solvency can still be an issue due to specific rules and regulations of the local banking system and law enforcement practices.
- Building Relationships: The government and public sectors are major importers of goods and services, but their procurement procedures are complex. Solid relationships with decision-makers are useful, and employing a local representative or sales agent can be advantageous. Additionally, a visit of potential trade partners, especially in the early stages of negotiations, has been proven to be beneficial to developing professional relationships.