For many US companies China is a difficult and dangerous business frontier. On November 14th, the Office of Global Learning, in its fourth International Business Breakfast Seminar, presented 'Doing Business in China’. Organized by collaboration with Herb Ouida, Director of the FDU Global Enterprise Network, the seminar series is designed to help US companies expand their international business activities.
The seminar was a great opportunity to learn about doing business in one of the most important markets in the world. The seminar started off by reviewing the economic situation in China to highlight, how much potential this market of 1.3billion people has to offer, but also to show what possible risks companies face.
Cathy Feig and Christopher Wong, representatives of the US International Trade Administration, reviewed their services which range from counseling to detailed market research guides known as "gold key" services, and also how to protect your intellectual property in the foreign market.
Michael Meyer, President of the F&T Group located in Flushing, Queens gave an insight into the development of a new World Trade Center in Nanjing and how Flushing Queens has become the true "Chinatown" where delegations from China come seeking market entry strategies with local partners.
Christina Alonge and Michelle Bonina of Reed Expeditions presented the use of trade shows in China in order for US companies to find qualified foreign partners and Amanda Barlow from the United States Council for International Business presented a way on how to save the costs of duties and tariffs through ATA Carnets, which can be compared to a "passport" for goods. Both presentations showed the importance of the right preparation before entering this foreign market.
The seminar was a great networking opportunity and covered a broad range of topics of interest for companies, which plan to expand into China and ended with a demonstration of Kompass, a comprehensive B2B database, on how to find detailed information on various companies all over the world.
The event was co-sponsored by M&T Bank and FedEx. A FedEx a company representative explained the full range of services they provide. This ranges from preparing custom documents to serving as a freight forwarder.