Background
In this age of increasing globalization, international trade is essential to the economic growth and well- being of developing countries. Adequate infrastructure is necessary for importing and exporting, and the costs of developing these are high. appropriate regulation can increase trade and attract direct foreign investment, while excessive regulation can be a barrier These can be especially formidable barriers to small and medium sized businesses with limited resources.
Objective
The objective of the economic development mission is to expose government officials and industry leaders in the developing country to import and export practices in the U. S. With this information participants will be better able to define procedures and strategies that will improve their own economies. Only by seeing what works and how it works can they design procedures and programs that will increase their exports and improve their trade opportunities.
Benefits of this mission
Participants will be able to see how the inter-national trade system works in the U.S. They will be able to take many of the ideas and practices back to their country and help influence practices and legislation there. Depending on the specific actions taken, the impact on the developing country can be substantial.
Topics to be covered include
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The operations of export and import companies
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Developing points of contact to promote export industries
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Procedures for increased transparency in expediting shipments in and out of the country
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Reduction of constraints on importing and exporting
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Attract foreign investment
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Requirements and procedures for exporting to the U.S.
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Streamlining import procedures
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Using the International Chamber of Commerce
What the mission will see
The economic development mission will visit:
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Importers and exporters
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Customs clearance and related organizations
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Shipping companies
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Banks