All units of the NYPL will be closed July 4.
New York City is undoubtedly one of the most important centers of international trade in the world. Every day, all kinds of consumer goods, commodities and professional services are traded internationally by New York City companies and through the city's ports. Statistics on this activity are available in the International Trade chapter of NYCdata compiled by the Weissman Center for International Business, Zicklin School of Business at Baruch College. In order to succeed in this complex arena of business, one must be well informed and prepared for many situations. The Science, Industry and Business Library (SIBL) either has or can bring one into contact with the resources and programs which one needs to research potential international business opportunities. These resources include:
They can be categorized into a number of areas such as general background information, market research and country information, regulations, business leads and contacts, shipping and logistics, and finance. On the following pages you will find such resources arranged by topic to help you answer many of the frequently asked questions in the field of international business. These guides are not exhaustive, so please visit the Science, Industry and Business Library for further assistance in finding the information you need.
For the latest trade news try the following sites:
Commercial News USA (Also available in Español/Spanish and in Chinese)
U.S. Department of Commerce Globus & NTDB
U.S. International Trade Administration
If you are contemplating starting an international business venture, for instance, by exporting or importing a product or service, you may want to read some general works discussing the potential profits and pitfalls of conducting international business. SIBL holds a number of basic guides and handbooks. These include:
Building an Import/Export Business
*R-SIBL HF1416.W43
How to Start an Import/Export Business: Your Step-By-Step Guide to Success
*R-SIBL HF1416.A3
Import/Export: How to Get Started in International Trade
*R-SIBL HF1416.N45
International Marketing
*R-SIBL HF1416.C375
A Short Course in International Marketing: Approaching and Penetrating the Global Marketplace
*R-SIBL HF1416.C87
Doing Business in Emerging Markets: Entry and Negotiation Strategies
JBE 02-2285
International Business Partnership: Issues and Concerns
JBD 01-211
To find other similar titles in the library’s collection, either browse the reference shelves in *R-SIBL HF1416 or search the following subject headings in the online catalog:
On the web, the following sites discuss issues involved in exporting:
In order to sell a product or service, there must, of course, be people who want to buy it. Market research will help you determine how likely you are to find buyers for your product or service. Market research can help you find the largest or fastest growing markets for your product or service, and market trends, outlook, and practices in a particular place. Refer to the Marketing Your Business section of SIBL's Business Owner's Manual for more information on how to effectively research and analyze your prospective market.
Market research data on U.S. markets is often difficult to find; market research reports are expensive, and most often not available in a public library. Foreign market data is even harder to come by. Several of the electronic resources at SIBL can help:
The library subscribes to a number of business periodical indexes, which allow you to search for articles in hundreds of business periodicals and trade publications. You may find articles discussing your country, your market, or your industry.
Print resources include the reports issued by the publisher Euromonitor such as the titles Consumer Latin America and Consumer China.
If you do not find the market research information you need in our collection of resources, you can consult Findex, an annual "directory of market research reports, studies and surveys" available for sale produced by market research companies. Most of these reports target a specific market but are generally quite expensive to purchase and are not found in public libraries. If you want to go one step further and conduct your own market research, you can hire a firm to do it for you. Such firms are found in the GreenBook published by the American Marketing Association.
In addition to market research reports, export and import trade statistical data of particular products and commodities can yield information about the potential of a target market. Researching the export/import statistics for your product or commodity also provides hard data for use in drafting a business plan if you intend to seek financing from a bank or other source.
The Science, Industry, and Business Library offers access to three electronic databases of export/import statistical information produced by the U.S. Department of Commerce and the U.S. Bureau of the Census. They are available by reserving a workstation in the Electronic Information Center at SIBL. These databases are:
Export and import commodities are often categorized in these databases by Harmonized Tariff Schedule (HTS) number. These numbers are the most precise way of identifying your product. While it is possible to search for a product by key word, it is often more precise and efficient to use the HTS number. You can find these in print in the Harmonized Tariff Schedule of the United States (available in the library) and on the Internet from the U.S. International Trade Commission.
The FT-900 is the monthly report of the U.S. International Trade in Goods and Services released by the U.S. Census Bureau. The full report is available in a variety of file formats or can also be accessed by individual chapters, or Individual Exhibits, such as U.S. Services by Major Category-Exports and Exports and Imports of Goods by Principal End-Use Category. An historical archive of the reports are available back to the early 1990s. Click on Country/Product Data at the top of the page for other more specific reports.
Among the library's print resources, the Direction of Trade Statistics Yearbook (*R-SIBL HF91.I65) published by the International Monetary Fund and the International Trade Statistics Yearbook (*R-SIBL HF91.U473) issued by the United Nations provide import/export statistics of commodities traded among the world's countries.
Some of the library's statistical publications are more specialized in scope such as the FAO Yearbook Trade (*R-SIBL HD9000.4.T7) published by the Food and Agriculture Organisation of the United Nations. It contains export/import data on basic food and agricultural products for all countries and territories of the world.
Many of the world's most respected publications containing the most current country information are well represented in SIBL's collections. Titles of note include:
SIBL regularly receives in print the official statistical annuals of most countries of the world that may be useful in furthering examining their markets' potential.
On the web, the International Trade Data System site maintained by the U.S. Department of the Treasury provides links to many country specific publications issued by various U.S. federal agencies including the CIA World Factbook, the State Department's Background Notes and the Commerce Department's Country Commercial Guides for selected countries. The CIA World Factbook and the Background Notes are directly available from:
The Overseas Private Investment Corporation (OPIC), a United States federal agency, maintains a page called the Investor's Information Gateway which includes many of the same federal government links above plus others from sources such as the OECD and the World Bank grouped into 20 different categories. OPIC is an agency which focuses on expanding American investment into approximately 150 developing nations. Another U.S. web resource is the Library of Congress site Portals to the World that provides links to a mixed bag of informational websites for most countries including areas such as Antarctica and the Panama Canal.
The GlobalEDGE site maintained by Michigan State University's Center for International Business Education and Research provides links to many excellent sources of country-specific business information.
With documents obtained from the World Bank Group and other foreign investment promotion agencies, the Investment Promotion Network (IPAnet) provides "free access to online foreign investment and privatization resources" which include reports covering country-specific economic conditions, investment-related laws, product markets and industry sectors. In addition, its directories provide contact information to over 30,000 organizations and individuals active in foreign investment.
Many countries make their national statistics available online. Both the U.S. Census Bureau and the U.S. Department of Labor Bureau of Labor Statistics provide links to the central statistical offices of many countries.
Once you have decided that there is a market for your product or service, you must then find actual buyers. Methods of identifying buyers include trade shows, trade missions, direct mail campaigns, and advertising. You may eventually need an in-country presence through a representative or distributor. Exporters may eventually need an in-country presence in their foreign market through a representative or distributor. The library can assist you in locating business leads and contacts.
There are many trade shows, both in the U.S. and abroad, where buyers and sellers can come together to discuss business, and sellers can display their wares. There are organizations on the web that can help you find trade shows, among them the Federation of International Trade Associations, www.tsnn.com and www.expo24-7.com as well as the U.S. Commmercial Service's Export.gov site. In SIBL’s reference collection, the annually published Trade Shows Worldwide (*R-SIBL T394.T723) provides a calendar of future trade and professional congresses.
SIBL contains many country- and industry-specific commerce directories that can help to locate business contacts abroad.
Other print directories in the library’s collection which might be of use are:
On the web, the U.S. Trade Information Center’s National Export Directory, available over the Globus & NTDB site, provides links to all sorts of trade support offices in the United States on the federal, state and local levels. Likewise, the Center’s Foreign Trade Offices Database is a directory of a variety of official trade offices of foreign governments located both in the United States and abroad.
The 21st century global marketplace offers many opportunities for international business expansion yet, also come with a variety of intercultural communication challenges that businesspeople must comprehend in order to succeed.
SIBL has a variety of books, journals, and electronic databases that deal with the topics of international business communication and practices as well as current business and economic conditions. These resources offer a foundation of information that will help prepare today’s businessperson for the communication challenges of the multinational business community.
To find books at SIBL on this topic, search the NYPL Catalog under any of the following SUBJECTS: (This is a partial list; there may be related subjects in the catalog)
Below is a representative list of some books on this topic and their locations on the open shelves at SIBL:
Some of the Business Databases, to which SIBL subscribes, that index full-text articles covering current foreign business topics are:
Some phrases to use to find articles in these databases are:
Examples of articles found in General Business File under the subject of Intercultural Communication:
Project GLOBE, a research study sponsored by the University of Calgary’s Haskayne School of Business, investigated the cultures of many countries to determine how they affect how business is conducted in each country. In September 2003, a summary of the findings of Project GLOBE were presented at Baruch College’s Weissman Center for International Business. Click here to view the presentation. The full report was published in 2004 with the title, Culture, Leadership and Organizations: the GLOBE Study of Societies.
Executiveplanet.com is a website which provides valuable tips on business etiquette, customs and protocol for doing business worldwide. Guides are co-authored by experts in international business etiquette, who are available to answer your questions on the discussion board.
To find other material on the internet pertaining to intercultural business communication, try Google’s web directory of cross-cultural business communication sites.
International trade means that business is transacted between vendors and customers located in different countries with their respective differences in law. The United Nations Convention on Contracts for the International Sale of Goods (CISG) governs all contracts for the international sale of goods between parties whose principal places of business are located in the United States and other countries participating in the convention. The CISG has been adopted by most nations with developed economies and currently applies to two-thirds of all world trade. Pace University Law School maintains a thorough website on the CISG and International Commercial Law at http://cisgw3.law.pace.edu.
There are a number of books covering international sales contracts such as-
ICC Model Commercial Agency Contract
ICC Model International Sale Contract
International Business Transactions in a Nutshell
International Commercial Transactions
Negotiating and Structuring International Commercial Transactions
A proper international sales contract should also clearly state the agreed upon terms of sale, that is, the point at which the title to the goods and the financial responsibility thereof devolve from the vendor to the customer. Such terms are usually specified by the use of Incoterms such as EXW, FAS, FOB, CFR, CIF, etc. the definitions of which can be found in Incoterms 2000 published by the International Chamber of Commerce. Online, an explanation of Incoterms can also be found at http://www.i-b-t.net/incoterms.html and http://www.unzco.com/basicguide/c11.html#Terms.
Methods of payment are also spelled out in the contract whether the customer agrees to pay by open account, letter of credit or payment in advance which are the most common terms of payment. This is normally arranged through your own commercial banker, however, it is important to understand all the various accepted and customary methods of payment for international business transactions. The online A Basic Guide to Exporting contains a chapter on Methods of Payment. A letter of credit, often abbreviated as L/C, is the most frequently used method of payment between international buyers and sellers especially if there is no prior history of transactions between the two parties. According to the site, it is a “document issued by a bank … stating its commitment to pay someone a stated amount of money on behalf of a buyer so long as the seller meets very specific terms and conditions. Letters of credit are more formally known as "documentary letters of credit.” Other less common methods of payment include documentary collections, open account and payment in advance.
Some of the library’s reference titles include:
ICC Uniform Customs and Practice for Documentary Credits *R-SIBL HG3746.R69
Letters of Credit *R-SIBL HG3745.R69
The Law of Letters of Credit: Commercial and Standby Credits *R-SIBL KF1028.D652
Letters of Credit *R-SIBL KF1028.M331
Standby and Commercial Letters of Credit
*R-SIBL KF1028.W862
When conducting business between the United States and another country, you most likely will have to contend with a multitude of national tariffs, regulations, and documentation requirements of both countries.
Generally speaking, if you are the exporter, you are responsible for shipping your product abroad by employing the services of a freight forwarder. It is the responsibility of your customer, the importer, to deal with import regulations and paying any customs duty in the import country. He or she usually employs the services of a customs broker to handle these details. However, if you are exporting a product sensitive to national security, it is your responsibility to be aware of any U.S. export restrictions. Furthermore, despite the fact that it is not usual for the exporter to be liable for import regulations, it would not be a bad idea to be aware of them for your intended export country.
Finding import regulations of foreign countries is often quite difficult to uncover, however, SIBL holds a limited number of resources. There are also some official and unoffical websites that cover this area as well as U.S. export regulations.
As an importer you are responsible for knowing all about U.S. import regulations and customs duty. An experienced customs broker can help immensely with this task. See the next chapter on Shipping and Logistics for information about finding customs brokers.
When exporting or importing, you will likely need the assistance of third parties to help you complete your business transaction. They have experience in shipping to and dealing with officials and agents in your intended import country.
The process of actually moving your goods overseas can be quite complicated. You must be concerned with packing, labeling, documentation, insurance, foreign and, sometimes domestic, regulations. Freight forwarders can help with all this and determine the most economical means of shipment, whether by land, air or sea. While you should understand the logistics of export or import, you will almost certainly need the services of a freight forwarder who will handle most of the details for you.
Once your shipment has arrived in the port of entry, the services of a customs broker are necessary, but not mandatory, to get them through customs by handling the necessary paperwork, documentation, payment of duty, etc.
Your local chamber of commerce, trade associations, international departments of banks or an international trade specialist can help direct you to reputable freight forwarders or customs brokers. As a start, you can also consult several directories available at the library:
On the web, freight forwarders and customs brokers can be located using:
If you are a businessperson, you probably already have a relationship with a commercial bank which should be the first source of financing you use. The New York Small Business Resource Center’s Business Owner's Manual has a general section on financing, which is also applicable to financing an import or export business. Listed below are a few Internet sources which may be of particular interest to an exporter:
SCORE (Service Corps of Retired Executives) or your local Small Business Development Center can provide further information and counseling about these and other export/import finance programs. The U.S. Export Assistance Center is available for information and counseling about these and other export finance opportunities.
There are many New York City area and U.S. Government assistance programs that exist to help the small businessperson cultivate his or her international business venture.
SCORE (Service Corps of Retired Executives) sponsored by the U.S. Small Business Administration, brings volunteer retired business executives together with entrepreneurs and small business people in order to give them guidance and advice about their small businesses. The New York City chapter can help you with all types of international business matters such as determining fertile markets for your product or service, finding business partners and distributors in foreign markets, or finding financing for your business venture. In addition to one-on-one counseling, SCORE offers programs and seminars, many of which are related to international trade. SCORE representatives are available at the Science, Industry and Business Library for one hour counseling sessions by appointment Tuesday-Saturday 11:00 a.m. to 3:00 p.m. and Tuesday-Thursday 4:00 to 7:00 p.m. They can be reached at the library at 212-592-7033 during the above business hours. SCORE can also be contacted at their central New York location: 26 Federal Plaza (Duane St. at Broadway), Room 3100, New York, NY 10278. Tel: 212-264-4507.
New York U.S. Export Assistance Center of the U.S. Commercial Service, a division of the U.S. Department of Commerce, offers a wide range of one-on-one counseling services helping businesses to export their products and services. They can help identify foreign markets, put you in touch with foreign distributors, agents, and importers, lead you to SBA and Export-Import Bank financing and offer other kinds of general support. The New York office is located at 20 Exchange Place, 40th Floor, New York, NY 10005. Tel: 212-809-2675.
Office of the Mayor of the City of New York, Division for International Business – Promotes New York City as a location for international business concerns.
Manhattan International Development Corporation – Site is structured as a directory of trade information resources and a calendar of New York City area international business programs and events.
International Business Offices of the Port Authority of New York and New Jersey – Primarily exists to promote the facilities and services of the Port Authority to foreign businesses.
Empire State Development – Offers, among other services, export marketing counseling for either entering or expanding in foreign markets. Offices are located in New York City, throughout New York State and abroad in Brazil, Chile, South Africa, the United Kingdom, Israel and Japan.
NEXCO – Hosts many international trade workshops and conferences in New York for international trade professionals.
Baruch College Weissman Center for International Business – Sponsors numerous programs, conferences and forums on topics relating to global economics and international trade.
New York City Business Solutions - While not intended specifically for international trade assistance, this city agency includes a listing of local, state, federal and nonprofit Import/Export Trade Resources
SBA Office of International Trade – The international trade advisory service division of the U.S. Small Business Administration.
U.S. Business Advisor International Trade section – The U.S. Small Business Administration’s site for international business information and resources.
U.S. Trade Information Center – Maintained by the International Trade Administration of the U.S. Department of Commerce, it is intended as a directory of resources to answer the frequently asked questions regarding export such as documentation, regulations, country information, market research, trade events, freight forwarders, assistance programs, etc.
www.export.gov - The official international trade portal created by the U.S. Department of Commerce with many links to materials produced by other U.S. Government agencies related to exporting.
BuyUSA.gov – United States Commercial Service of the U.S. Department of Commerce site to promote the export of U.S. products and services. Includes “Doing Business in…” guide for each country.
U.S. International Trade Administration – The international trade promotion division of the U.S. Department of Commerce.
U.S. Trade and Development Agency – Fosters U.S. commercial involvement in developing countries and works to improve the infrastructure and business trading environment in those countries.
GlobalEDGE – Michigan State University’s Center for International Business Education and Research portal for international trade research.
Federation of International Trade Associations – Features a regularly updated list of useful websites for international trade professionals.
United States Council for International Business – Represents the interests of American businesspersons to the U.S. Government, United Nations, and European Union among other international bodies.
Business Council for International Understanding – Sponsors programs to encourage dialogue between U.S. business interests and the U.S. and foreign governments.
United States Chamber of Commerce – Includes an online directory of American Chambers of Commerce Abroad
Association of American Chambers of Commerce in Latin America
World Chambers Network – Features an online directory of local chambers of commerce worldwide
International Chamber of Commerce – International body working to increase international trade and job creation.
World Trade Centers Association On-Line – Network of World Trade Centers in place to help business people expand their businesses globally.
Organization of Women in International Trade – Networking organization for women and men doing business in all facets of international trade.
US-ASEAN Business Council – Organ of U.S. private business interests engaged in networking with business associations and government agencies in the 10-country ASEAN market.
U.S.-China Business Council – With offices in Washington, DC, Beijing and Shanghai, this non-profit organization represents the interests of established U.S. corporations as well as small- and medium-sized companies currently operating in China or intending to enter the Chinese market. Also provides tailored business advisory services along with industry and market research.
Hong Kong Trade Development Council – “The global marketing arm and public service hub for Hong Kong-based manufacturers, traders and service exporters.” Their “activities are especially geared to small and medium-sized enterprises (SMEs), the chief drivers of Hong Kong’s trade.”
JETRO (Japan External Trade Organization) – A Japanese government organization “that promotes mutually beneficial investment and trade relations between Japan and other nations.”
European-American Business Council – Represents the interests of EU and U.S. companies in transatlantic trade issues
Central European Business Association - New York based organization which promotes "the mutual advancement of professionals and students interested in economic and business developments taking place in Central Europe"
BISNIS: Business Information Service for the Newly Independent States – Market information resource for U.S. companies interested in conducting business in Russia and former Soviet Republics (Newly Independent States)
Council for Trade and Economic Cooperation (Russia-USA) – Promotes Russian-U.S. contacts on a corporate level by providing a range of services such as consulting & assistance, investment, legal and customs advice.
ArabDatanet – Maintained by the National U.S.-Arab Chamber of Commerce, this site is gateway of business and economic news and information for the Arab world.
Google's Directory of International Business and Trade Associations
July. NYPL Art and Architecture Collection.
One of 700,000 pictures in the NYPL Digital Gallery
