U.S. EXIM BANK reopens for transactions with Ukraine

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 “A strong international voice for business in Ukraine”U.S. EXPORT-IMPORT BANK (EXIM) NOW OPEN FOR UKRAINE

U.S.-Ukraine Business Council (USUBC), Wash. D.C., Tues, Jan 8, 2019

WASHINGTON, D.C. – The Export-Import Bank of the United States (EXIM) is now open for Ukraine. “This is great news for U.S. exporters of goods and services and for business in Ukraine. EXIM being open for Ukraine provides an additional and important tool to expand U.S.-Ukraine business relations in 2019,” said Morgan Williams, President, U.S.-Ukraine Business Council (USUBC), www.USUBC.org. The Export-Import Bank of the United States (EXIM), www.EXIM.gov, is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services. The EXIM country limitation schedule now includes Ukraine, https://www.exim.gov/tools-for-exporters/country-limitation-schedule

“At the end of December, the Export Import Bank of the United States (EXIM) reopened its short and medium term programs in Ukraine for both private and public sector Ukrainian borrowers,” said Alexander Gordin, Managing Director, Broad Street Capital Group, www.BroadStreetCap.com, a long-time member of USUBC. “The reopening  of EXIM’s programs in Ukraine, after more than five years, sends a terrific signal to U.S. companies seeking to supply the Ukrainian market with U.S. goods and services. It also sends an encouraging message to investors on the improving economic condition in Ukraine,” according to Gordin. “The U.S.-Ukraine Business Council (USUBC) will be working the Broad Street Capital Group and the law firm of Brown Rudnick (www.BrownRudnick.com), both members of USUBC, to organize and conduct a series of workshops titled “Fluent In EXIM” in the near future in the USA and Ukraine,” said USUBC President Williams. “These workshops will feature experts from the public and private sector who will present the most effective strategies for structuring export transactions, submitting applications for export credit insurance and financing, as well as passing due diligence and compliance procedures,” Williams announced. 

ABOUT: EXPORT-IMPORT BANK OF THE UNITED STATES (EXIM) —– The Export-Import Bank of the United States (EXIM), www.EXIM.gov, is the official export credit agency of the United States. EXIM is an independent Executive Branch agency with a mission of supporting American jobs by facilitating the export of U.S. goods and services.
When private sector lenders are unable or unwilling to provide financing, EXIM fills in the gap for American businesses by equipping them with the financing tools necessary to compete for global sales. In doing so, the Bank levels the playing field for U.S. goods and services going up against foreign competition in overseas markets, so that American companies can create more good-paying American jobs.

Because it is backed by the full faith and credit of the United States, EXIM assumes credit and country risks that the private sector is unable or unwilling to accept. The Bank’s charter requires that all transactions it authorizes demonstrate a reasonable assurance of repayment; the Bank consistently maintains a low default rate, and closely monitors credit and other risks in its portfolio.==========================================================
NEWS: For the latest news about Ukraine go to the KYIV POST website: www.KyivPost.com.The Kyiv Post is a member of the U.S.-Ukraine Business Council (USUBC). 
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U.S.-Ukraine Business Council (USUBC) 
1030 15th Street, N.W., Suite 555 W, Washington, D.C.  
Morgan Williams, mwilliams@usubc.orgwww.USUBC.org
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Power Corrupts..Absolute Power Corrupts Absolutely

Three ways to find clients abroad (two are wrong)

How to build a solid international business, brick by brick.

By Alexander Gordin, reposted from Citibank.com Business Solutions

January 31, 2013

If you remember the story of the Three Little Pigs, you already know all there is to know about doing business internationally. Just like in the tale, there are three ways to for a company to approach international expansion through exporting.

Passive Lucky (straw house): In this scenario, exporters-to-be go about their daily business and hope that someone from overseas will contact them with an order. Sometimes that does happen, and the order can be a minnow or it can be a whopper. In either case, the approach is no more solid than a straw house, and is unsustainable over time.

Ad Hoc (stick house): This strategy is a little better than the first since it involves some proactive moves by the exporting company. Maybe the CEO met someone at the trade show or called on a potential customer during a business trip. Some exports can be built up in this manner, but no serious, long-term strategy develops. Therefore, any adverse turn of events threatens to quickly undo this fragile structure.

Top-Down (brick house): This is the only correct approach to building business abroad. By committing to a strategic business development approach, would-be exporters are able to gradually implement a systematic, sustainable expansion plan that will serve their companies for years to come.

So how does one develop and implement the Top-Down approach?

Hire experienced advisors. Assign or hire experienced, dedicated folks to staff your international department. Starting with senior management, implement an ongoing training program for everyone involved in exports, finance, shipping and administration. Work with the U.S. Commercial Service, U.S. Chamber of Commerce (AMCHAM) and an American business council in each target market. Set up an account with a bank that has global reach and experience in foreign currency, can provide a letter of credit and has a wire transfer department.

Select the most promising markets for your product. There are about 180 potential countries in the world that merit consideration for exporters. Using tools available from the U.S. Commercial Service, World Bank, Transparency International, CIA World Atlas and private companies, thoroughly explore the markets and select 10 that appear to have the highest sales potential for your company’s products.

Drill down into your target market. Once the locations have been decided, the company should research its target market segments and define its products’ advantage in each. Use currency conversion calculators to set the local pricing for the product and check how it compares to the locally available products. Create a schedule of phases in which each of the new countries will be entered.

Find a strong local partner who will be able to completely service your company’s in-country needs. This is the most important step of all. The local partner should

  • Have a strong ability to recruit and manage local staff
  • Properly represent your company at all levels
  • Understand your strategic goals
  • Respect the value of your brand and understand the damage to it that a single wrong act may cause
  • Look out for your interests when it comes to financial matters and anticorruption policies

There are several types of partners for exporters. They include in-country agent or representative; local distributor or importer; and providers of technical services of equipment where warranted. To find a local partner, there are several good places to start. The U.S. Commercial Service offers Gold Key Service, which will identify and screen potential partners. Query local AMCHAM and industry associations in the target countries. Look on business networking sites such as LinkedIn. Ask headhunters, expats, family and friends, local lawyers, accounting firms and economic officers at the countries’ embassies in Washington DC.

Once the partner is selected, enter into a comprehensive agreement and structure the relationship in a way that affords you leverage and provides for a “trust but verify” framework for monitoring the relationship. Remember, building the partner relationship is an ongoing process and the personal touch is essential to success. Travel to the country often and get to know your partner. Put a contingency plan in place in case the partnership does not work out.

Together with the partner create product pricing; customize your company’s offering to the market; set up Foreign Corrupt Practices Act (FCPA) compliance policy and obtain local certifications and licenses that may be required. Find a great customs broker and an experienced freight forwarder. Line up export credit insurance and export financing from the Export-Import Bank of the United States, or private insurance carriers and banks, which finance exports.

Commit to the process. In order for a company to succeed in building successful export business, commitment of the entire organization starting with the top management is essential.

Once your export countries are identified, your partner selected, your product customized and positioned and your organization committed, execute the strategy patiently and consistently in each target country. Then watch your export business flourish.

Alexander Gordin is the founder and CEO of Fluent in Foreign, a business development and risk management platform designed to help exporters, manufacturers, franchisors and investors successfully enter foreign markets or expand their existing international operations. Fluent In Foreign publishes Fi180 Global Business AtlasTM with unique country profiles and proprietary Fi3
indicesTM to help companies seeking to expand their international business.

©2013 Citigroup Inc. Citibank, N.A. Member FDIC. Citibank with Arc Design is a registered service mark of Citigroup Inc.

 

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