Exporting food products abroad is not an easy process, but it needs to be on scientific grounds to ensure their sustainability and success. The Food Industries Export Board offers 10 tips for the success of the export process that Food Today has seen and is presenting today to exporting companies wishing to export to serve as its reference, to expand export.
The first of these tips is to have the company ready to export with a high quality product commensurate with the target markets and able to meet contracts on time and at a competitive price.
Preparing Market Research:
Ensure that the necessary research is prepared to determine the appropriate markets for the commencement of the export process or the expansion of export, and identify the most important importing countries from Egypt, the most important importing countries from the world, and competing products, in each export market while examining the company's particular strengths and weaknesses in each market.
Know the trade agreements with Egypt, or the availability of the Egyptian product in the target market, make sure to know the specific import requirements in each country, study incentives in case of export to certain markets, as well as the ease of transfer of funds and banking transactions, and the availability of export risk insurance services.
Making the most of the Government's support:
Services of the Export Council for Food Industries.
Export support programmes (export invoice support, support for participation in international exhibitions, support in trade missions, technical support programmes).
Export Risk Assurance Company and Export Development Bank services.
The services of the Centre for Industrial Modernization in the development and modernization of productive and manufacturing capacities.
Services provided by foreign partners and various international entities.
Innovation and Development:
Always looking to develop and innovate with the aim of creating a competitive advantage that makes it easier for the company to persuade the importer to deal with it. Innovation or development can be either in the commodity, packaging, cooperation systems and atypical partnership with importers, or development in the field of publicity and promotion of the product, and also the development and innovation extends to after-sales services.
Establishing and supporting international relations in various export markets:
Opening export markets is not an easy process, and the company needs a lot of partners to achieve this goal whether partners in the areas of export-supporting underdeveloped services such as logistics, financial and legal services, Inspection and quality or international or local experts and consultants according to the nature of the target market and representatives of the commercial representative body, representatives of international entities, development projects, and with clients, agents and importers and those relationships must be maintained and continuously developed, which will contribute to the expansion of exports.
Go for easier options:
Look for the easiest choices and markets to start the export process both in terms of compatibility in language, culture and geographical area, markets with strong contact points or previous great knowledge, as well as markets with economic ties and trade agreements supporting export.
Improving and developing the company's online presence:
Technological development in recent years has led to access to millions of consumers around the world in a fast and less expensive manner than traditional methods. This is a dangerous weapon that could be counterproductive in the absence of a good website and adequate publicity materials for the company and its online products.
Attention should be paid to the presence of the company on various social media platforms while identifying the platform that has priority according to the culture of each market, as well as e-selling platforms that support the company's presence in export markets, and attention to direct and indirect advertising using the Internet.
Appropriate pricing for each market:
The company may be locally successful for a specific price structure, but it is not necessarily commensurate with the target export markets, where each market requires a different price valuation, it must reflect local price averages, competitor prices, respect the target market share, and maintain a good profit margin that compensates the company in case of any potential risks.
Making sound shipping decisions:
Investigate accuracy in the selection of shipping partners in terms of service quality, ease of communication and prices while maintaining fast and good shipping time, prepare a database of shipping service providers and shipping lines, and study the strengths of each navigational line in export markets.
The Export Development Fund's shipping support programmes must be utilized when exporting to non-traditional African and new markets, and requirements for such support and required documentation are identified in order to avoid errors that prevent access to this important advantage.
Make sure to improve your cash flow to boost exports:
This advice is one of the most important tips for successfully promoting exports, making sure that the company has the necessary cash flow to be able to maintain a successful and continuous export process.
International trade often leads to global capital gaps between supplier terms and customer payments, and ensuring you can pay your suppliers immediately. You can develop a strong supply chain while offering favourable terms to your customers. This increases the potential for successful international trade, so banking services such as discounting and export financing services must be used.
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