The World is Open for Your Business
Additional Reasons to Explore or Expand Exporting
Global trade in goods and services is likely to grow in the future. The Trade Facilitation Agreement (TFA) introduced in 2013, and implemented in early 2017, could add $1 trillion annually to the global gross domestic product (GDP). This agreement compels World Trade Organization (WTO) members to improve customs procedures and cut regulatory red tape, speeding the flow of goods and services across borders and reducing the costs involved. The U.S. government has created a “single window” system with some of the same benefits and efficiencies as the WTO effort.
Opportunities with U.S. free trade agreement partner countries. The United States has negotiated free trade agreements with 20 countries to support easier movement of goods across the border, where your customer is. Last year, U.S. FTA partner countries accounted for nearly half of all U.S. goods’ exports. Accessing FTA benefits means gaining a competitive advantage, such as reduced member countries’ import duties on goods, making these products cheaper for consumers. The agreements also generate additional U.S. business opportunities by strengthening intellectual property protections, simplifying regulations, and opening up service sector and government contracting procedures. Under the FTAs, countries generally treat foreign companies the same as their domestic companies.
If you have a web presence, you have a global marketing and international sales platform. With the right ecommerce service providers, you can process credit card payments for buyers in Australia or translate key pages into Spanish and other languages to further your reach. During the next few years, worldwide B2C eCommerce is projected to nearly double to $2.2 trillion with the fastest growth in the Asia-Pacific. You’ll want to be in the game as sales soar.