what you should know about : EX1>0KTL\< I A HOW-TO-GET-STARTED HANDBOOK U.S. DEPARTMENT OF COMMERCE Luther H. Hodges, Secretary September 1962 JACK N. BEHRMAN Assistant Secretary of Commerce For International Affairs L. EDWARD SCRIVEN EUGENE M. BRADERMAN Director, Bureau of Director, Bureau of International Business Operations International Programs For sale by the Superintendent of Documents, U.S. Government Printing Office Washington 25, D.C. - Price 25 cents CONTENTS Page Foreword vii Pinpointing Your Markets 1 Sizing Up Your Chances 3 Channels for Trading 5 Indirect Exporting 5 Direct Exporting 6 Picking Your Overseas Partners 7 Making Contacts Abroad 8 Trade Missions — Trade Fairs — Trade Centers — Agency Index. Checking Reliability 11 Financing 12 The Export-Import Bank — Small Business Administration. Insurance 16 Guarantees and Credit Insurance — Protection for In- vestors — Marine Insurance. U.S. Regulations 17 Foreign Regulations 18 Handling the Order 19 Figuring Costs 20 Help for the Newcomer 20 The Freight Forwarder 20 Preparing the Shipment 21 Packing — Marking Goods and Containers. Moving the Goods 22 Promoting Export Sales 23 Advertising Media Abroad 24 Where To Get Advice 25 Other Overseas Arrangements 25 Free Ports and Trade Zones 26 If You Want To Know More 27 Regional Export Expansion Councils 27 Foreign Governments 28 Helpful Reading 28 Books, Pamphlets, Directories 29 Periodicals and Services ^ Field Office Locations 3o JOHN F. KENNEDY President "New trade frontiers lie beyond our borders to be ex- plored and developed by energetic and resourceful American businessmen. New markets for our goods are emerging in the developing areas which are now joining the world community of free nations. Also, the traditional foreign markets offer challenging opportunities as a result of their growing economies and the elimination of restric- tions affecting American goods. I call on American businessmen to follow their heritage and to recapture the spirit and vitality of American traders of old. " IV LUTHER H. HODGES Secretary of Commerce " This handbook is designed to be a basic reference for the American businessman interested in opening profita- ble new overseas markets for his products. In it, he will learn of the many facilities and resources on which he can draw to enter international trade. Development of a new international dimension in American business will help improve our Nation's bal- ance of payments position. It will help the underdevel- oped nations satisfy their desire for ' 'Made-in-USA" goods. And it will contribute significantly to fuller employment and economic growth in the United States. The resources of the Department of Commerce will be available to you whenever you need them. " Digitized by the Internet Archive in 2012 with funding from LYRASIS Members and Sloan Foundation http://www.archive.org/details/whatyoushouldknoOOunit FOREWORD There are profits to be made in exporting. How do I get my share? "How do I go about getting into international trade?" "Where do I find customers?" "How do I check on their reliability?" "What about financing, insurance, and guarantees?" The international trade experts of the U.S. Department of Commerce can help you with the answers to these and many other guestions. In Washington and in the Department's regional Field Offices are this country's greatest repositories of the facts and figures a U.S. business- man needs to determine whether he will share in the profits of the export field, where, when, and on what scope. Why is the Government placing so much emphasis on increased exports? The United States must expand exports to strengthen the national economy, to achieve a more favorable balance of payments position, to maintain high levels of employment and profits here at home while strengthening our ties with our friends and allies throughout the Free World. vn 658519 0-62— 2 This handbook tells how the U.S. businessman can help himself and his Government to achieve these goals through new, hard-hitting sales promotion efforts, reflected in solid lasting profits. The U.S. businessman already has strong advantages in entering the international market: The world's peoples are eager for new products — now more than ever before because of the universal rise in living standards. The American businessman, long a supplier of the most demanding domes- tic market, can help the consumers of other nations — AT A PROFIT. The trend toward freer international trade — exemplified by the European Economic Community and other common markets — means freer competition for sales, a situation in which American manufac- turers are accustomed to thrive. New sales stimulants— ranging from credit guarantees to Trade Centers for displays of U.S. products — are being provided by the Government. But success in the export field calls for the same judicious market evaluation needed for success in the American domestic market. First, you must be willing to commit yourself wholeheartedly to the long pull. Foreign markets are not built overnight any more than domestic markets are. Second, you must become familiar with some factors which do not arise in the domestic market — for example, licensing requirements and shipping documentation. Third, you must adapt American techniques to your international operations in such fields as market research, financing, and the care- ful selection of your sales and service force. Fourth you must have a good product — one which is either com- petitively priced or of superior quality. Now, let us begin to evaluate your chances in the world of inter- national commerce. JACK N. BEHRMAN Assistant Secretary of Commerce for International Affairs viii PINPOINTING YOUR MARKETS Your first step is to determine the extent and exact locations of the present overseas markets for your particular line of goods. The Department of Commerce's Bureau of International Programs (BIP) and Bureau of International Business Operations (BIBO) offer counseling by country and area experts and trade specialists who will help acquaint you with the potential markets for your products. BIP's Overseas Business Reports (formerly World Trade Information Service) provide basic marketing data on virtually every country of the world. For other publications issued by these bureaus, see Checklist of Inter- national Trade Publications referred to in the bibliography, page 29. Marketing help is also available from other Department of Commerce bureaus. The Department's Business and Defense Services Adminis- 1 tration (BDSA), for example, collects, analyzes, and publishes informa- tion on the worldwide commercial activity of 21 general industry groups ranging from forest products and electronics to plastics, textiles, and leather. You can get a complete list of BDSA publications by writing directly to the Department of Commerce in Washington or to your nearest Field Office. Two series of trade reports published by the Commerce Depart- ment's Census Bureau list the dollar volume of U.S. exports by country (FT-410 series) and by commodity (FT-420 series). From the cross- classified data in these monthly reports (or their annual summaries) you can learn which of some 160 countries are buying any one of tens of thousands of U.S.-made products — literally everything from ballpoint pens to bulldozers. By looking up, say, machine tools, you will find listed in order the largest existing markets for these items. However, your best sales chances may come in countries just starting to develop, or in markets that have opened recently for your type of goods. To learn of any significant trends and to find out which markets are ex- panding most rapidly, you can compare the month-to-month (or year- to-year) figures in the reports. The Bureau of the Census publishes other U.S. export and shipping information. You will find a list of the various reports containing such information in the Bureau's Catalog of United States Foreign Trade Statistical Publications. You will also want to know to what extent other countries are selling the markets in which you may be interested. One quick way of doing this is by checking the United Nations publication entitled Commodity Trade Statistics (see bibliography, page 34). A substantial increase in United States International trade will help solve our balance of payments problem. It will create employment and contribute to economic growth. And it will strengthen our relation- ships with many other freedom-loving nations. — PRESIDENT KENNEDY nRr®\ Once you have surveyed the list of potential markets, you will want to brief yourself as completely as possible on individual countries. Free help is available from many private sources such as chambers of commerce, trade associations, and banks. You also can hire a marketing consultant to advise where you can probably best sell your product and help promote its sale there. Your local chamber of commerce or Department of Commerce Field Office can refer you to directories or frequently provide you with a list of such consultants in your area. For a list of such firms abroad, write for the Department of Commerce's Directory of Foreign Advertising Agencies and Marketing Research Organizations. Overseas Business Reports (formerly the World Trade Information Service) issued by the Department of Commerce are a series of reports dealing with specific, individual countries, based on data from 292 Foreign Service posts around the world. These publications give basic data on a country's economy and foreign trade, its market potential, transportation facilities, how to set up a business there, and many other economic, operational, and statistical facts. As many as 25 or 30 different pamphlets are available for some countries. For a complete list of titles, see the Checklist of International Trade Publications. From the Department of Commerce you can also get comprehensive, volume-size (up to 275 pages) investment guides describing in great detail the overall economy and particularly the investment and mar- ket climate of many different countries. To see if there is a guide for the countries of interest to you, refer to the Country Handbooks series in the bibliography on page 30. Similar information, as well as specific trade and other investment opportunities, is contained in the topical reports written by the various Trade Missions the Department of Commerce sends abroad every year. Copies of these reports can be obtained from the regional Field Offices. Foreign governments with offices in the United States, as well as various international organizations, may also be able to provide you with helpful information. A list of these is contained in the Guide to Foreign Information Sources, issued by the U.S. Chamber of Commerce. There is need for a larger membership among those businessmen in America who have their eyes on new horizons. The need is for com- panies interested in customers from Australia to Zanzibar, seeking dollars wherever they can be earned. — SECRETARY HODGES CHANNELS FOR TRADING At this point you should appraise the various means of selling abroad open to you. Basically there are two methods of exporting — indirect or direct. Indirect Exporting With the indirect method, you can sell through one of the following types of middlemen (some combining several of the functions to be described): The Export Merchant — This type of individual (or firm, also often called an export house) will buy your goods outright, usually on a nonexclusive basis, and resell them abroad for his own account. 658519 0-62— 3 The Export Agent — This type of trader functions as your exclusive distributor abroad (either on a worldwide basis or in a certain area), selling your goods through his network of foreign representatives, salesmen, or distributors. He usually handles a number of related but noncompetitive lines for several manufacturers, and generally works on a commission basis. The Export Commission House — Actually, this type of firm is a buyer or purchasing agent for foreign companies, scanning the U.S. market for goods that meet their specifications. Accordingly, unlike the ex- port agent, it is paid in the form of commissions from the foreign firm. The Combination Export Manager — In the broadest sense, his func- tions are practically identical with those of the export agent, in that he handles the foreign business for a number of manufacturers, usually on a minimum retainer plus commission basis. Generally, however, he (or his organization) has a closer relationship with the companies he represents — in fact, he is virtually your export department. He does business in your name and on your letterhead. His overseas agents and representatives operate in your name rather than his. He does not usually assume any credit risks (although he may). His know-how and services are of particular value to small companies not yet ready to set up their own export departments. Direct Exporting To sell abroad directly you would set up your own export depart- ment in one of several ways. You could have a "built-in" operation using existing personnel from your other departments; you could organize an entirely separate export department; or you could set up a separate international company or subsidiary exclusively to handle your international trade. Exporting Is Good Business. PICKING YOUR OVERSEAS PARTNERS Armed with the information you have, you may now be ready to go ahead and line up overseas firms to act as your agents, distribu- tors, customers, or suppliers. How do you make contact with such firms and determine their competence and reliability? You could, of course, take a trip abroad to scout and select the trade connections you want in certain areas. If you decide on such a trip (or, for that matter, any business trip), the Department of Commerce will alert the appropriate U.S. Foreign Service posts to your arrival and arrange appointments with persons likely to be most helpful to you. For this service, simply contact your nearest Department of Commerce Field Office at least 2 weeks before your departure. If it is not practical to take a trip abroad, many other avenues of information are open to you. Making Contacts Abroad As a first step, ask the Department of Commerce for Trade Lists for those countries in which you are most interested. Each list (cost, $1) gives the names and addresses of firms making, buying, or selling a specific commodity (or performing a certain service) in one country. For example, one list may cover hardware importers, dealers, and distributors in France; another list, firms handling lumber in Japan; for some countries, you can get lists that are available in as many as 70 different commodity classifications. Each list also contains a summary of the market potential for the commodity covered, govern- ment regulations affecting trade, basic information about each firm listed, and other useful data. Another approach to finding overseas customers is through a De- partment of Commerce Trade Contact Survey. Tailored to your spe- cific requirements, this is an on-the-spot canvass made by a U.S. Foreign Service officer at an overseas post to find several qualified local firms (usually two or three) interested in what you have to sell. Each survey generally takes about 60 days to complete and costs $50. It should be undertaken only at the recommendation of a De- partment of Commerce Field Office specialist. You can get the nec- essary application forms at your Field Office. Besides this detailed survey, which includes pertinent market data and details of interviews with the prospects, background reports (known as World Trade Directory Reports) on the business reputation of thousands of overseas firms are available for $1 each. Notices of specific export, import, and investment opportunities, along with the names and addresses of interested foreign firms, also appear regularly in International Commerce (formerly Foreign Com- merce Weekly). This weekly news magazine also gives the sched- uled arrival dates and U.S. addresses of foreign buyers and sellers, together with a detailed description of the products and services in which they are interested. Trade opportunities may also be found 8 in another Department of Commerce publication, Commerce Business Daily. Similar information is carried in foreign trade publications and other periodicals and bulletins issued by private publishers, foreign government trade bureaus and chambers of commerce, foreign trade bureaus of U.S. chambers of commerce, international departments of banks, trade associations, and transportation companies. Some — like the magazine Export Trade and Pan American World Airways' Clipper Cargo Horizons — will even publicize your wants and offerings at no charge; many of the others accept paid advertising. A list of some of the principal ones appears in the bibliography. Your bank may be able to give you the names of potential foreign suppliers as well as those of possible customers. In addition, you can consult some of the many foreign trade directories. Among the best known are Kelly's Directory of Merchants, Manufacturers, and Ship- pers and American Register of Exporters and Importers. Others are listed in the bibliography. For a complete worldwide listing, get a copy of the Department of Commerce Guide to Foreign Business Directories. Many commercial mailing list firms compile lists of foreign im- porters and exporters, agents, retailers, and manufacturers. You can get a list of such firms from your local chamber of commerce. Also check the classified section of your telephone directory. TRADE MISSIONS. — Department of Commerce Trade Missions can help you, too. A dozen of these missions may visit 20 countries in a year. In each country, the mission members — usually four or five businessmen ex- pert in certain fields and a Department of Commerce official — meet with foreign business groups, private businessmen, and Government officials, and present business proposals (for export, import, invest- ment, joint ventures, licensing, and plant establishment) submitted by American companies. Foreign firms or governments interested in any proposal are put directly in touch with the U.S. firm. Any repu- table U.S. firm may submit business proposals — at no charge — usually up to 6 weeks before each mission's departure. The missions also return with business proposals made by foreign companies. These are published in International Commerce, as well as in more detailed reports of the countries visited. The missions also discuss their findings at businessmen's conferences in key Ameri- can cities. You can get detailed information about the program and advance notice of departing missions from your Field Office or by writing to the Trade Missions Division of the Department of Commerce. TRADE FAIRS. — Another way of getting your products before foreign customers is through exhibits at trade fairs. About 300 of these international trade fairs are held each year and the Department of Commerce arranges official U.S. exhibits at 15-20 of these. More than 75 million people in more than 30 countries have seen these official exhibits of American products at trade fairs. The Department of Commerce's Office of International Trade Fairs works with U.S. manufacturers to arrange exhibits geared to local market needs at selected fairs. Announcements of fairs and official exhibitions appear regularly in International Commerce. Dates, locations, and guidance on how to participate also can be obtained from the Office of International Trade Fairs, Department of Commerce, or the nearest regional Field Office. TRADE CENTERS-— The United States Government has developed another dramatic method to aid U.S. manufacturers in obtaining markets abroad. Permanent trade centers have been established in major commercial centers such as London and Bangkok. A Frankfort Center will open late in 1962, and another in Tokyo early in 1963. Trade Centers are permanent exhibition halls where groups of re- lated U.S. products (housewares, electronic equipment, apparel, food items) are placed on exhibition for 10 days to 6 weeks, and then re- placed by another exhibit of different U.S. products. A permanent American staff operates each Trade Center and helps to find agents, distributors, and customers for the products exhibited. The U.S. Information Agency's overseas staff works closely with the Department of Commerce to publicize the exhibits of both the trade fairs and the trade centers. At the first London exhibit — which resulted in initial orders totaling about $1.5 million — at least half the exhibitors found British distributors and agents to handle their products. For further information, write the Trade Centers Division of the Department of Commerce. 10 AGENCY INDEX. — If you have something to sell and already have representatives abroad, you should enter their names and addresses on the Department of Commerce's Agency Index, which is kept at U.S. Foreign Service posts throughout the world. Foreign buyers looking for specific American products are often referred to the representatives listed in this index. ^#^ ■ ■ ■ ■■% ■■ ■ ■■■■ Checking Reliability Obviously, you should give as much care to selecting your foreign representative as you would in picking the people with whom you do business domestically. Besides knowing something about general reputation and professional competence, you should be concerned about credit standings. Let's say you've compiled a likely looking list of possibilities either from a Trade List or other sources. Before writing them, you may want to look at the factual information the Department of Commerce may have on each candidate. The Department's detailed background reports on more than 300,000 individual overseas firms (World Trade Directory Reports) contain such pertinent information as the firm's type of organization, names of its officers, capital, financial references, general reputation, size, annual turnover, products handled, sales territory, and names of the firms, both U.S. and foreign, with which it does business. Chances are you will want to supplement this report with data from a credit agency. Some of the principal ones which furnish credit reports on foreign firms are: Foreign Credit Interchange Bureau, Na- tional Association of Credit Management, 229 Fourth Avenue, New York 3, N.Y.; American Foreign Credit Underwriters Corp., 253 Broad- way, New York 7, N.Y.; and Dun and Bradstreet, Inc., 99 Church Street, New York 7, N.Y. Banks with international departments maintain extensive credit files on firms abroad and are, therefore, in a good position to supply credit information to customers. You may also want to check the bank reference given by your prospective partner, and communicate with the other references he has given, as well as with some of the firms with which he does business. 11 For a ready reference to other sources of information, both in the United States and abroad, consult Sources of Credit Information on Foreign Firms, available from the Department of Commerce. Financing If you've located foreign contacts abroad, and have decided to do business with them directly, you have to consider the all-important question of financing. Don't be concerned by the formidable-sounding terms you'll have to become acquainted with, such as, letter of credit and sight draft. Essentially, the principles underlying the financing of foreign trade are similar to those applying to domestic business. Foreign currencies, however, sometimes fluctuate in value in rela- tion to the U.S. dollar. At times, nations establish currency restrictions which make it difficult or impossible for a prospective buyer to obtain dollar exchange to purchase certain products. Because of this shortage of dollars, some nations establish import quotas (which limit imports and even ban some items) and other regulations. These, plus customs payments and the distance between buyer and seller (the long time lag between shipment of goods and receipt of payment) frequently call for special credit and collection procedures. In addition to know- ing where to get credit, you should know something about credit insurance and other available guarantees. In foreign trade, there are various ways in which you can get paid for the goods you sell, and these are described in detail below. The particular method of payment selected will, to a large extent, depend en the credit standing of your customer or, looking at it from the foreign supplier's point of view, your credit standing. Then, there is the matter of exchange restrictions and controls. If you export, for example, your customer may be able and willing to pay you, but he may at times find it difficult to get the money out of his country, at least in U.S. dollars. If the transaction is to be in U.S. dollars, or another hard currency such as Swiss francs, there is no need for protection from fluctuations in exchange rates. If not, a system of "hedging" similar to "futures" in the American agricultural commodity market is often used. This involves buying or selling foreign currency "forward" for payment at 12 the approximate time of delivery of a shipment of goods. This can be done through a foreign exchange bwker or through the international department of your bank. For a variety of reasons, different terms of payment prevail in differ- ent countries and areas. In the Philippines, foreign trade can be done only by letter of credit. In Japan, virtually all foreign trade is done in this manner. In Latin America, the use of sight drafts is much more common. Finally, your terms of sale will depend on competition, the type of merchandise involved, economic and political conditions and, of course, your shrewdness in bargaining. To aid you in coming to a decision, one of the best informed sources of advice is the international department of your bank. In fact, on the basis of their day-to-day experience, banks with active international departments are eguipped to provide you with practical advice on virtually any aspect of foreign financing. Other good sources of in- formation are customhouse brokers and freight forwarders (see page 28), as well as your Department of Commerce Field Office. You can also get guidance from the many books and pamphlets on the subject. A number are listed in the bibliography; others will be found in the Department of Commerce publication, Sources of Infor- mation on Foreign Trade Practice. Because of the many sources of information available to you, only the highlights of export financing are discussed in this report. If you export, you naturally want to receive payment for your goods as soon as possible and yet sell under terms that enable you to remain competitive. There are various ways in which you can receive pay- ment from your overseas customer. One of the most frequently used methods is the letter of credit. Your customer, before shipment of the goods, either deposits the full pay- ment in his bank, or the bank extends him credit for the amount nec- essary. The customer's bank then forwards the letter of credit to your bank. The letter of credit authorizes you to be paid upon your fulfill- ment of certain obligations as specified in the sales contract (and also the letter of credit itself) — for example, presentation to the bank of such documents as a commercial invoice, consular invoice (when needed), 13 insurance certificate, and a full set of on-board bills of lading or airway bills to indicate that the shipper has received your goods in apparent good order and condition and without qualification. Sometimes, an inspection report or other certification of quality from an independent inspecting or surveying firm is required. If issued in irrevocable and confirmed form (that is, not subject to cancellation or modification without the consent of all parties con- cerned), the letter of credit gives you the highest degree of protection next to cash in advance — a method of payment not generally used in exporting. Affording somewhat less protection is the irrevocable but uncon- firmed letter of credit (binding on all parties except the U.S. bank). With this type of letter of credit, the U.S. bank is not obligated to pay you if, say, something happens and the foreign government suddenly decides to restrict dollar exchange, or if other conditions arise that make payment difficult or impossible. Other common methods of payment, in order of increasing risk, are the revocable letter of credit (one subject to cancellation or modifica- tion even without your consent or knowledge, but not after you've presented the specified documents to your bank), the sight draft, and the time draft. These drafts are very popular methods of payment. With the sight draft, your customer defers payment until the foreign correspondent of your bank presents his line of credit with the draft. Only after such payment does he receive the documents that give him title to the goods you've shipped (in practice, the customer often does not make payment — and take title — until the arrival of the goods in his country). With the time draft, the customer obtains possession of the goods as soon as he accepts the draft, but defers payment for 30, 60, or 90 days, or even longer periods. If the customer is well known to you or is of established reputation, and there are no serious money exchange problems, you may want to do business with him on an open account or consignment basis. Although they are the simplest methods of doing foreign business (differing little from comparable methods used in domestic business), 14 they can likewise be the riskiest and are, therefore, used less frequently than the other methods. In certain areas there are several other common methods of pay- ment, such as the authority to pay and the authority to purchase, both of which are somewhat similar to the letter of credit. Your bank can give you information as to just how and where they are used. A commercial bank may give you a loan or credit to cover the cost of export goods en route to a foreign destination; in fact, the shipping documents provide the security to make such financing almost a rou- tine matter for regular customers of good credit standing. However, you cannot ordinarily borrow for transactions done on an open account basis. Similarly, various methods of financing imports (apart from that extended you to open an import letter of credit) are also available from your bank. If your local bank itself does not handle import or export paper, it is probably a correspondent of a bank which does. Private finance and credit companies will often undertake risks be- yond the province of commercial banks or the scope of your existing credit. If they are satisfied as to the responsibility of the foreign buyer (unlike commercial banks which are primarily interested in your re- sponsibility), they will purchase the receivables of the goods you are shipping, and so advance the funds you need. THE EXPORT-IMPORT BANK In certain situations, private financing may not be available. In such cases exporters should con- tact the Export-Import Bank of Washington (Eximbank), a U.S. Govern- ment agency designed to assist in the promotion of exports by financ- ing specific transactions, by guaranteeing loans made by commercial banks, and by underwriting export credit insurance (see page 16). Of particular interest to the Eximbank is the promotion of productive capital equipment exports, such as agricultural, mining, transportation, and industrial machinery. However, the agency also provides financ- ing for durable consumer goods. In recent years, Eximbank has liberalized its policies to place in- creasing emphasis on assisting relatively small businesses. For more information, consult your commercial bank or write directly to the Export-Import Bank of Washington, 811 Vermont Avenue NW., Washington 25, D.C. 15 SMALL BUSINESS ADMINISTRATION Another source of credit, although primarily for plant reconstruction, expansion, and modernization, is the Small Business Administration (SBA) which has offices in 60 American cities. SBA also provides technical and mana- gerial aids to small business concerns, including advice on foreign commerce. Full information on services of SBA, and the location of the nearest field office, can be obtained by writing the Small Business Administration, Washington 25, D.C. Insurance Experience has shown that the comparative risks on export sales are not necessarily greater than on domestic sales. But still you want to protect yourself against the possibility of not being paid for your goods. Fortunately, protection is available against many risks. GUARANTEES AND CREDIT INSURANCE.— The Eximbank and the Foreign Credit Insurance Association (FCIA — a private pool of marine and casualty insurance companies), through a new U.S. Government-sponsored program, will now protect you against possible losses, giving you up to 85 percent coverage of commercial risks and up to 95 percent coverage of political risks — war, revolution, insurrec- tion, expropriation, currency inconvertibility, cancellation or restriction of import licenses, and so on. The FCIA insurance policies can be used to cover all U.S. products exported on terms up to 6 months and in some cases to cover terms up to 5 years. Transactions with Iron Curtain countries, as well as a few others, are not covered. With such protection, you will of course find it easier to get credit to finance your export shipments. Costs, other information, and application forms are available from insurance agents and brokers or directly from the Foreign Credit Insurance Association, 60 John Street, New York 38, N.Y. PROTECTION FOR INVESTORS.— If you want to invest abroad, participate in joint ventures or set up a wholly owned foreign sub- sidiary, the Agency for International Development (AID) has broad- ened the protection offered by its Investment Guaranty Program. The guarantees offered now cover all political risks and, in some cases, commercial risks, too. Depending on type of coverage, the guarantees 16 give from 50 to 90 percent coverage, and are available for some 40 countries. Further information is available from the Investment Guarantee Division, Agency for International Development, Washing- ton 25, D.C. MARINE INSURANCE. — To protect yourself against the damage or loss of goods in transit, various types of marine and air cargo insur- ance are available from commercial underwriters. Most are members of the National Association of Insurance Brokers, 62 William Street, New York 5, N.Y., or members of the American Institute of Marine Underwriters. You can also get this insurance through many freight forwarders and customhouse brokers (see page 20). U.S. Regulations There are, of course, no U.S. duties on exports. A special blanket export license is not required in the sense that a special license is needed to operate a business, such as a drugstore or employment agency. However, you may have to get an export license for certain scarce or strategic items, or even for some seemingly nonstrategic items destined for certain countries. This is to prevent the possibility of, say, a car heater winding up inside the military vehicle of an unfriendly nation. The licensing for export of most items under control is done by the Department of Commerce (exceptions: arms, ammunition, and imple- ments of war, which are licensed by the U.S. Department of State; gold (except fabricated gold with a gold content value of 90 percent or less) and narcotics, licensed by the U.S. Department of the Treasury; tobacco plants and seeds, licensed by the U.S. Department of Agricul- ture; vessels, licensed by the U.S. Maritime Administration; natural gas, licensed by the Federal Power Commission; and certain source material and facilities for the production of fissionable material, li- censed by the Atomic Energy Commission). The regulations change frequently, but the annual Comprehensive Export Schedule and its supplementary Current Export Bulletins (available together on a sub- scription basis; see bibliography, page 30) will keep you up-to-date on what you can ship where, and tell you how to apply for an export license. 17 Foreign Regulations Most countries use controls for some imports. These devices may- take various forms: Quotas; import licenses (needed by the buyer); for- eign exchange restrictions; quarantine and other regulations; and restrictions applied to certain commodities, such as food products, drugs and pharmaceuticals, and explosives and inflammables. Im- port duties are levied on many imports often for revenue purposes or to protect local industry. In some countries, government manufacturing monopolies for certain products (such as, tobacco or matches) may virtually bar their import from the United States. Don't overlook the possible need and potential cost of adapting your product to specific tastes or requirements abroad. To sell abroad, you may have to make some changes in your product or in the way it is packaged. For example, U.S. electrical appliances and other equipment may not work in some foreign areas unless modified to meet local requirements. In some areas all electric current is 220 volts at 50 cycles and a special type of bayonet plug is used. Specific regulations govern the marking and labeling on packages and con- tainers in many countries. You may have to change the wording of the label in deference to local customs, while a translated version of the English text of the label will suffice in some countries; in other instances, you may not have to translate the label at all. You may also have to take into account even so minor a detail as the label's color. In some countries, yellow is taboo except to designate poison. Elsewhere, you may be required to sell certain items in tubes rather than in cans, or by the liter or kilogram instead of by the gallon or pound. You may also have to look into and be aware of other preferences. In many areas, for example, people prefer foods that are highly spiced. In looking into all these matters, the Overseas Business Reports issued by the Department of Commerce are one of your best sources of guidance. In addition to the subjects already mentioned, there are titles covering licensing and exchange controls, import tariff system, pharmaceutical, food, patent, trademark, labeling, and marking re- quirements in specific countries. The Department's official magazine International Commerce is indispensible in keeping readers posted on 18 current conditions and changes. If you go into exporting, you will also want to consult the Exporters' Encyclopedia, containing information on all countries of the world. You will find other helpful publications listed in the bibliography beginning on page 28. You are now ready to handle orders. If you've decided to use the indirect channels of foreign trade, you will not be concerned with the technical procedures involved in getting goods from one country to another. The middlemen with whom you deal will attend to such details as packing, shipping, and insurance, or give you any precise instructions you may need. 19 If, on the other hand, you trade directly, you will have to have at least some knowledge of these and other technical procedures. For one thing, they will entail certain expenses that must be figured in determining the price at which a particular lot of goods may be sold or bought profitably. Figuring Costs Besides the actual cost of the merchandise itself, an export cost analysis should include such items as packing; marking; transporta- tion; shipping registration, documentation, and other fees; insurance; and the miscellaneous costs involved in correspondence and other forms of communications. Financing may figure in the cost analysis too, as may also advertising and sales promotion. There may be other costs: Wharfage and pier-handling charges; warehousing; customs clearance, consular, or purchasing fees; charges for cleaning, recondi- tioning, inspection or testing; legal and other fees, charges, and com- missions. And don't forget the cost of your organizational overhead. Help for the Newcomer To arrive at these costs, to be able to draw up or understand a so- called quotation (a condensed form of a possible sales contract) or the actual sales contract itself, and to learn all the other technical proce- dures connected with foreign shipment, requires considerable study and hard work. You may want to hire a man experienced in foreign trade, or detail one of your present employees to learn the procedures in the export department of a company already in the export trade. Then there are also firms equipped to perform a variety of services for ex- porters, including paper work, leaving you free to concentrate on the business of selling. The Freight Forwarder Probably the most useful of these firms to the embryo exporter, whose initial business may not justify maintaining a regular export depart- ment, is the freight forwarder. The services of this type of firm are also of particular advantage to manufacturers with export departments not located near a port city. 20 Basically a freight forwarder, as the term suggests, books freight space and sees that your goods are placed on the boat (or plane) and arrive at their destination. In this connection, he will quote you shipping rates, advise you as to the proper timing of a shipment, prepare any necessary shipping, consular, and other documents, ar- range customs clearances, and advance freight charges and other shipping expenses and consular fees. The services of the freight forwarder may go far beyond the ones enumerated, depending on your needs. He is also prepared to handle the inland transportation of your goods both in this country and abroad, provide (or advise you concerning) packing and marking, arrange for marine insurance and warehousing, and forward banking collection papers. Some will even help you arrange financing, check on potential markets, and assist you in finding agents and customers. The fees charged are usually on a per-shipment basis. Sometimes, they are based on the value of the shipment and the services per- formed and an annual retainer arrangement is not uncommon. Many freight forwarders also act as customhouse brokers. To secure a listing of customhouse brokers and foreign freight for- warders, write the Custom Brokers and Forwarders Association of America, Inc., 8 Bridge Street, New York 4, N.Y., or consult your local chamber of commerce. Many brokers and forwarders also advertise in the Exporters' Encyclopedia and Custom House Guide, and in such periodicals as Export Trade, Shipping Digest, and American Export and Import Bulletin. Preparing the Shipment A good basic source of information is the Department of Commerce series of pamphlets titled "Preparing Shipments to (country)." Each report tells you what shipping and other documents are needed, out- lines the pertinent U.S. and foreign government regulations, and goes into such matters as labeling, marking, and packing, mail shipment provisions, customs procedures, and entry and warehousing. The publications are available for over 90 countries. For some countries, separate pamphlets are available on "Marking and Labeling Require- 21 ments of (country)." Similar information on each country's require- ments is also contained in the Exporters' Encyclopedia. The Department of Commerce will also be glad to answer any specific questions you may have. PACKING. — Aside from foreign freight forwarders and marine insurance brokers, you can and should get export packing instructions from your customer. If you do not have your own packing facilities, you may want to use the services of export packers — specialists who know the type of packing that is needed, not only for safety, but also to meet the special transportation, entry, or marketing requirements of a particular country. MARKING GOODS AND CONTAINERS.— All countries have some regulations on marking, and the rules of the Latin American countries are particularly strict. In addition to the sources of informa- tion suggested, you can also consult foreign freight forwarders, steam- ship companies, or airlines for the marking required for exports. Moving the Goods Ocean shipping is the cheapest form of overseas transportation for heavy bulk shipments. Air parcel post and air express may some- times be cheaper because they do not require heavy packing and do not present as many minimum bill-of-lading problems. You can work through a foreign freight forwarder or make your bookings directly with a carrier company. The names of steamship lines and their agents (and often sailing schedules and data as to type of cargo handled) may be found in numerous periodicals and directories: Shipping Digest, The Forwarder, Export Trade, Exporters' Encyclo- pedia, Custom House Guide, etc., or the chamber of commerce in the city from which you plan to ship. For air transport rates, schedules, packing particulars, and other data, check the domestic and international airlines. Most have offices in the principal U.S. cities. Some foreign freight forwarders also pro- vide a combination rail and air door-to-door service from inland points to foreign destinations. For information as to how to ship by rail or truck, check your local telephone directory listings under such headings as Railroads, Truck 22 Forwarding, Freight Forwarding, and Shipping Agents. The regulations and information as to mail and parcel post rates and procedures (for example, prescribed declarations and tags must accompany packages) are published in the Postal Manual. Your local postmaster often can help you or you can write to the Post Office Department in Washington, D.C. PROMOTING EXPORT SALES There remains now only the step of seeing that your goods find a ready and growing market. This will usually involve advertising and sales promotion. You will find that advertising in foreign markets may call for techniques differing somewhat from those used here at home. 23 The particular problems will differ from country to country and from product to product. Generally, however, foreign consumers take ad- vertising more literally than do people here in the United States. Exporters must guard carefully against using copy (on labels and pack- aging as well as in the various advertising media) that might be mis- leading. Often, too, copy may have to be rephrased in the foreign language for linguistic or other reasons. In the local idiom, direct, literal translation from English may emerge as nonsensical, offensive, or, because of certain local customs and peculiarities, ineffective. Generally, copy should be used sparingly in areas of high illiteracy, and emphasis placed on the use of illustrations and other graphics. If the latter are used, care again should be taken that they are presented to accord with local customs. In some markets, for example, certain colors may have a much greater appeal than others. Advertising Media Abroad In many countries, you will have the same choice of advertising media as you do here. However, a somewhat different emphasis may be placed on their use. In most countries, newspapers are relatively more important (as compared with other media) than in the United States. Good media, also, are the foreign language editions of various American maga- zines, particularly for branded consumer goods. As in the United States, many trade papers, directories, and year- books are useful in bringing products to the attention of dealers and distributors. Some of the numerous U.S. export business magazines (often printed in foreign language editions) are widely circulated and are especially influential. In most countries, radio and television are generally considered class, rather than mass, media. However, in certain areas where illiteracy is prevalent and programs can be heard or seen in public places, they provide one of the few means of bringing an advertising message to great numbers of people. Naturally, radio and television cannot be used in countries which do not permit commercially spon- sored programs. 24 Commercial motion-picture films are used abroad to a greater extent than in the United States. They are particularly important in countries having a relatively high percentage of illiteracy. The films may some- times be shown in regular movie houses as well as before special industry groups. In some countries, particularly those of Latin America, the various forms of outdoor advertising (billboards, posters, electric signs, street- car and bus cards) are effective mass media. In some countries, booklets, leaflets, letters, catalogs, and other forms of direct mail advertising, although expensive, are frequently used for followup. Where to Get Advice You can get lists of newspapers, magazines, trade journals, and other advertising media in foreign countries (at $1 per country) from the Department of Commerce (ask for the Advertising Media lists for the countries in which you are interested). However, because of the specialized knowledge required to adver- tise abroad successfully, probably you will want to use the services of a foreign advertising agency or an American agency with offices or correspondents abroad. Some American agencies handle nothing but foreign advertising. And some marketing consultants specialize in the problems peculiar to selling in foreign markets. For a listing of such firms, refer to the Department of Commerce Directory of Foreign Advertising Agencies and Marketing Research Organizations. You may want to consult the International Advertising Association, Inc., Hotel Roosevelt, Madison Avenue at 45th Street, New York 17, N.Y., and the Export Bureau of the American Association of Advertising Agencies, 420 Lexington Avenue, New York 17, N.Y. The Department of Commerce Directory of Foreign Organizations for Trade and In- vestment Promotion lists organizations which may be helpful to you. Other Overseas Arrangements If business warrants, you may later want to have a branch office abroad, incorporated, perhaps, as a separate company for legal, tax, prestige, or other reasons. 25 You may wish to look into the possible advantages of a plant overseas, or licensing a foreign manufacturer to produce goods or to complete the assembly of semimanufactured goods according to your specifications. Or you may also want to consider the possibility of entering into a joint- venture agreement with an overseas firm. Some such arrangement may be necessary to enable you to compete suc- cessfully for certain markets otherwise inaccessible because of guotas or tariffs favoring local industry or because of currency restrictions and other Government regulations. If you're interested in knowing more about the licensing form of business arrangement, write the Department of Commerce's Office of International Investment and ask to borrow Licensing Abroad, a loose- leaf compilation of 20 articles on this subject. Copies are also avail- able on loan at Department of Commerce Field Offices. Free Ports and Trade Zones To encourage and facilitate international trade, more than 100 free ports and trade zones are now in operation in 35 countries, usually at seaports. Many American manufacturers, or their distributors, utilize free ports or trade zones within seaports such as Beirut, Kuwait, Singa- pore, and Hong Kong for receipt of mass shipments of goods which are then transshipped in small lots to customers throughout the sur- rounding area. The United States has six zones, known as Foreign Trade Zones, in New York, New Orleans, San Francisco, Seattle, Toledo, and Mayaguez, Puerto Rico. Goods from abroad may be brought into these zones and combined with domestic materials or used in the manufacture of other goods without the payment of duties unless the combined product is sold in the United States. If the product is sold in this country, duty is payable only on the foreign part of the product. Goods from abroad may also be brought into these zones, just as in the free zones of other nations, stored, cleaned, assembled, exhibited, and repacked there, and then shipped to other countries without pay- ment of U.S. customs duties. For further information, write the Foreign Trade Zones Board, U.S. Department of Commerce, Washington 25, D.C. 26 >*""""" -Jfcw IF YOU WANT TO KNOW MORE mmmmmmmw msmmmmm mmmmm Regional Export Expansion Councils To help provide you with direct contact with businessmen experi- enced in all phases of the export business, the Department of Commerce has established 33 Regional Export Expansion Councils. These Councils, in cooperation with the Department's Field Offices, work closely with chambers of commerce, trade associations, banks, trade schools, colleges, and the Small Business Administration in arranging courses, seminars, and clinics on exporting, as well as pro- viding for private consultations with prospective exporters. Composed of leading foreign traders who serve without compensation, the Coun- cils have helped many businessmen to break into export. 27 Foreign Governments The governments of most trade-minded nations have consulates or other offices in the United States which furnish information about their resources, industries, trade needs, and prospective suppliers and cus- tomers. Many also have chambers of commerce in this country as well as in their own commercial centers. For addresses of these offices, consult the Foreign Commerce Handbook, Guide to Foreign Information Sources, Foreign Consular Offices in the United States, and the Direc- tory of Foreign Development Organizations for Trade and Investment Promotion. HELPFUL READING To keep informed about current developments, many excellent pub- lications are available. Those listed below are representative. For 28 other suggested reading, consult your librarian or refer to such stand- ard guides as the Cumulative Book Index, Business Periodicals Index, Industrial Arts Index, Readers' Guide to Periodical Literature, and Public Affairs Information Service as well as bibliographies in some of the publications that follow. Most of the publications listed may be examined at public libraries, local chambers of commerce, at Department of Commerce Field Offices, or may be ordered direct from the publishers. Department of Commerce publications — those indicated by an asterisk — may be ordered from your nearest Department of Commerce Field Office (see page 37). Most are also available from the Super- intendent of Documents, U.S. Government Printing Office, Washington 25, D.C. All checks or money orders should be made payable to the Superintendent of Documents. Remittances may also be in cash; stamps are not acceptable. Books, Pamphlets, Directories American Register of Exporters and Importers. 90 West Broadway, New York 7, N.Y. Annual. $15. ($16 to foreign addresses.) Lists over 25,000 active American export and import firms, with names of buyers, banking connections, cable addresses, products handled, and allied data. *BDSA Publications. Free. Lists monthly and quarterly industry re- ports, world and country surveys, and other publications issued by the Business and Defense Services Administration. Order only from Department of Commerce Field Offices. Catalog of United States Foreign Trade Statistical Publications. Bu- reau of the Census. Free. Describes the Bureau of Census reports containing U.S. export, import, and shipping statistics, including its Foreign Trade Reports (see under Periodicals and Services). Order only from Department of Commerce Field Offices. * Checklist of International Trade Publications. Issued twice a year. Free. Lists all available current reports in the Overseas Business Reports (formerly World Trade Information Service) series, as well as all other international publications of the Department of Commerce. Order only from Department of Commerce Field Offices. 29 * Comprehensive Export Schedule. Annual, kept up-to-date with sup- plementary Current Export Bulletins (included in each subscription). $6 a year ($7.50 to foreign addresses). Issued in looseleaf form, it is a compilation of U.S. export control regulations and policies, with in- structions, interpretations, and explanatory material. Single copies of Current Export Bulletin, 25 cents each. Order only from Department of Commerce Field Offices. * Country Handbooks on individual countries or areas. There are two types of these booklets, one on investment and one on markets, and a series of a new type that covers both fields is in process of prep- aration. These presently current and available are: "Brazil, Informa- tion for United States Businessmen," $1.75; "Investment in Chile," $1.75; "Market for U.S. Products in Chile/' 55 cents; "Investment in India," $1; "Investment in Nigeria," $1; "Investment in Peru," $1.25; "Market for U.S. Products in Peru," 40 cents; "Investment in Taiwan," $1; "Market for U.S. Products in Thailand," 55 cents; "Investment in Australia/' 75 cents; "Investment in Central America," $1.50; "Invest- ment in Colombia," 65 cents; "Investment in Ecuador," $1; "Investment in Indonesia," $1.25; "Investment in Japan," $1; "Investment in Mex- ico," $1.25; "Investment in Paraguay," 65 cents; "Investment in the Philippines," $1; "Investment in Federation of Rhodesia and Nyasa- land," $1.75; "Investment in Union of South Africa," 75 cents; and "Investment in Venezuela," $1.25. The books run from about 100 to almost 300 pages each and give detailed information on the economic conditions and investment climate of the particular country as well as market data, details of business and tax laws, communications and power facilities, and other pertinent statistics. Custom House Guide. Import Publications Inc., 10 Bridge Street, New York 4, N.Y. Annual. $30 plus postage, includes American Import and Export Bulletin (see under Periodicals and Services). Lists prin- cipal U.S. customs ports, with description, activities, and directory of shipping and allied commercial trades; alphabetical import commod- ity index with tariff status; U.S. Customs Tariff Act with changes and amendments; Customs Regulations of the United States; Internal Reve- nue Code affecting imports and importers; and much other miscel- laneous foreign trade information. 30 * Directory of Foreign Advertising Agencies and Marketing Research Organizations. 45 cents. Lists and describes principal advertising agencies and market research organizations in over 80 foreign coun- tries. Also mentions principal types of media used in each area. * Directory of Foreign Organizations for Trade and Investment Pro- motion. 35 cents. Lists the principal governmental and private or- ganizations abroad actively engaged in promoting and facilitating trade and investment. * Directory of National Associations of Businessmen. 50 cents. Lists over 2,000 associations in business, the professions, and allied fields, indicating the principal activities and officers of each. Includes index by type of industries and trades. Encyclopedia of Associations. Gale Research Co., 2200 Book Tower, Detroit 26, Mich. $25. Standard reference guide to over 11,000 na- tional associations, professional societies, and other nonprofit organ- izations in the United States. Exporters' Encyclopedia. Thomas Ash well & Co., Inc., 20 Vesey Street, New York 7, N.Y. Annual. $35. Includes supplementary biweekly bulletins. Gives regulations and procedures required for shipping to every country in the world, plus information on preparing export shipments. Lists world ports, steamship lines, freight forward- ers, Government agencies, foreign trade organizations. Includes special sections dealing with packing, marine insurance, export terms, and many other aspects of foreign trade. Exporting to the United States. Bureau of Customs, U.S. Treasury De- partment. 50 cents. A manual for importers, outlining the principal procedures necessary (including marking and preparation of invoices) for bringing goods into this country according to the U.S. customs laws and regulations. Order from Superintendent of Documents. Foreign Commerce Handbook. Chamber of Commerce of the United States, 1615 H Street NW., Washington 6, D.C. $2. Outlines the func- tions, activities, and services of the U.S. Government and intergovern- mental and private organizations concerned with foreign trade. Con- tains data and sources of information, including foreign weights and measures. Includes a comprehensive bibliography of reference works, books, pamphlets, and periodicals. 31 Foreign Consular Offices in the United States. Department of State. Annual, at varying prices. List of foreign consular offices in the United States, its territories and insular possessions, and the Canal Zone. Order from Superintendent of Documents. * Guide to Foreign Business Directories. 45 cents. Lists and describes directories (giving price, name, and address of publisher of each) of foreign exporters, importers, manufacturers, suppliers, individual pro- fessional and businessmen, trade associations, and Government officials. Guide to Foreign Information Sources. Chamber of Commerce of the United States, 1615 H Street NW., Washington 6, D.C. 25 cents. Lists of foreign embassies and legations in the United States, other organiza- tions and services relating to major areas of the world, and selected references. An Introduction to Doing Import and Export Business. Chamber of Commerce of the United States, 1615 H Street NW., Washington 6, D.C. $2. A manual that discusses the factors that should be considered in organizing and carrying on an import or export business. Lists selected sources of information. Kelly's Directory of Merchants, Manufacturers and Shippers. William B. Manley, 220 East 42d Street, New York 17, N.Y. Annual. $22.50. Lists firms in the United States and other principal trading countries of the world. Postal Manual. Chapter 1 , Post Office Services (domestic) and Chapter 2 (international mail). Loose leaf edition, with supplements, $4 a year; $5 to foreign addresses. Explains the domestic and international mail services, rates, fees, and conditions under which these services are available to the public. Order from Superintendent of Documents. * Sources of Credit Information on Foreign Firms. 30 cents. Lists banks, mercantile agencies, and other private sources both in this country and abroad that gather credit information on foreign firms. * Sources of Information on Foreign Trade Practice. 25 cents. A com- prehensive guide to publications and other reference material on for- eign trade. The listings include pamphlets, handbooks, guides, and magazines published by the Department of Commerce and other Gov- ernment agencies as well as private organizations. 32 * Summary of U.S. Export Control Regulations. 20 cents. Includes helpful hints on applying for a license, and specimens of forms used. 9WIMBS$li%SW; "' .: „ .:■: Periodicals and Services American Import and Export Bulletin. Import Publications, Inc., 10 Bridge Street, New York 4, N.Y. Monthly. $5 a year. Included with annual Custom House Guide (see under Books, Pamphlets, and Di- rectories) which it supplements. Laws, rulings, regulations, articles, news, and trade opportunities. * Business Service Checklist. Weekly. $1.50 a year ($3.50 to foreign addresses). Lists new publications and other published data available from the Department of Commerce. * Commerce Business Daily. Daily. $20 a year; $56 (airmail). Make checks or money orders payable to U.S. Department of Commerce. A daily synopsis of U.S. Government procurement invitations, sub- contracting leads, contract awards, sales of surplus property, and foreign business opportunities. Order from U.S. Department of Com- 33 merce, Room 1300, N.W. Pylon, New Post Office Bldg., 433 W. Van Buren Street, Chicago 7, or through your local Department of Commerce Field Office. Commodity Trade Statistics. Sales Section, United Nations, New York, N.Y. Quarterly (Part 1, Imports; Part 2, Exports). $1.25 for each part, or by annual subscription at $10. Provides quarterly figures on world commodity trade by regions and countries of origin and desti- nation classified according to the Standard International Trade Classification (SITC). Export Bulletin. Journal of Commerce of New York, 80 Varick Street, New York 13, N.Y. Weekly. $50 a year. Lists exports by products and product groups. Export Trade. Thomas Ashwell & Co., Inc., 20 Vesey Street, New York 7, N.Y. Weekly. $5 a year ($7 to foreign addresses). A journal covering news, advertising, and directory material on all phases of foreign trade and shipping. Federal Register. Federal Register Division, National Archives and Records Service, General Services Administration. Daily except Sunday, Monday, and days following official Federal holidays. $15 a year ($20 to foreign addresses). Contains executive orders, Presi- dential proclamations, and the general rules, regulations, and notices issued by agencies of the Executive Branch. Order from Superin- tendent of Documents. * Foreign Trade Reports. Bureau of the Census. Monthly. Annual supplement (calendar year report) is included in the subscription price of each report as listed below: FT 110 series. U.S. imports listed according to country of origin. $4 a year ($5.25 to foreign addresses). Single copy, 40 cents. Cal- endar year report, $1. FT 120 series. U.S. imports listed by commodity groups (countries of origin shown in each group). $1.50 a year ($2.25 to foreign ad- dresses). Single copy, 15 cents. Calendar year report, 30 cents. FT 410, part 1 series. U.S. exports (groups 00-5) listed by country of destination. $5 a year ($6.50 to foreign addresses). Single copy, 50 cents. Calendar year report, $1.25. 34 FT 410, part 2 series. U.S. exports (groups 6-9) listetl by country of destination. $6 a year ($8.50 to foreign addresses). Single copy, 60 cents. Calendar year report, $2. FT 420 series. U.S. exports by commodity groups (countries of destination shown in each). $3.50 a year ($4.50 to foreign addresses). Single copy, 35 cents. Calendar year report, 50 cents. The Forwarder. The Forwarder and Foreign Shipper, Inc., 25 Beaver Street, New York 4, N.Y. Weekly. $5 a "year ($10 to foreign ad- dresses). Gives complete advance ship sailing schedules, news ar- ticles, directory, and other information on foreign trade and shipping. * International Commerce (formerly Foreign Commerce Weekly). $16 a year ($21 to foreign addresses). Sample copy from Field Offices on request. An official magazine of the U.S. Department of Commerce. Reports developments in international trade and investment around the world, with a special section on business leads — export, import, agency, and investment opportunities. Regular features also cover U.S. and foreign government actions affecting world trade; commodity and industry news; utilities, transportation, communications, and other services; construction projects; Trade Centers, Trade Fairs, and Trade Missions; and trends and economic conditions by country and area. International Trade Review. Published monthly by Dun & Bradstreet, Inc., 99 Church Street, New York 8, N.Y. $5 a year. Single copy, 50 cents. Import Bulletin. Journal of Commerce of New York, 80 Varick Street, New York 13, N.Y. Weekly $32.50 a year. Lists imports by products and product groups, by vessel, and by point of origin and port of arrival. * Overseas Business Reports (formerly the World Trade Information Service). A service offering reports containing basic data on indi- vidual countries. Each pamphlet covers a specific subject in one country or area. Titles include such subjects as the general economy of the country; business organization; economic and marketing data; investment laws and policies; import tariff systems; licensing and exchange controls; shipping documents; labeling and marking; food, pharmaceutical, patent, and trademark regulations; living costs and conditions; 35 monthly total U.S. export-import trade; U.S. trade with major countries or areas; foreign trade of individual countries; and world trade reviews. A complete list of titles, with prices, for individual countries is contained in Checklist of International Trade Publications (page 29). Shipping Digest. 8 Bridge Street, New York 4, N.Y. Weekly. $5 a year ($6 to foreign addresses). Contains sailings from all U.S. and Canadian ports, news, articles, directory material, and advertising cov- ering all phases of foreign trade shipping. Includes biweekly supple- ment Airshipping. * Trade Contact Surveys. $50 each. Individual hand-tailored surveys conducted in a foreign country or area to enable U.S. firms to find agents and distributors which meet their specific reguirements. Avail- able only from U.S. Department of Commerce and its Field Offices. * Trade Lists. $1 per list. Each list contains names, addresses, and brief descriptions of foreign firms (manufacturers, exporters, importers, distributors, agents, etc.) handling a specific commodity or performing a certain service in a particular country. Available from U.S. Depart- ment of Commerce and its Field Offices. Treasury Decisions. Treasury Department. Weekly. $8.50 a year ($11 to foreign addresses). Contains decisions under customs and certain internal revenue, narcotic, and other laws, including decisions of the U.S. Customs Court and the U.S. Court of Customs and Patent Appeal. Order from Superintendent of Documents. United Nations Publications. International Documents Service, Colum- bia University Press, 2960 Broadway, New York 27, N.Y. Monthly. $7.50 a year. Single copy, 75 cents. Lists titles and periodicals of the various organs and agencies of the United Nations. * World Trade Directory Reports. $1 each. To supplement the Trade Lists above, each report furnishes detailed commercial and financial information on a specific foreign firm to provide some basis for deter- mining their competence and reliability. Information includes data as to type of organization, method of operation, lines handled, size, capitalization, sales volume, names of officers, reputation, American representatives and U.S. firms handled (if any), and other references. Available from U.S. Department of Commerce and its Field Offices. 36 FIELD OFFICE Albuquerque, New Mexico, U.S. Court- house, CHapel 7-0311, Ext 2386 Atlanta 3, Georqia, Home Savings Build- ing, JAckson 2-4121, Ext. 6000 Boston 10, Massachusetts, 80 Federal St., CApitol 3-2312 Buffalo 3, New York, Federal Building, TL. 3-4216 LOCATIONS Charleston 4, South Carolina, Sergeant Jasper Building, 722-6551 Cheyenne, Wyoming, Majestic Building, 634-2731 Chicago 6, Illinois, 226 West Jackson Blvd., ANdover 3-3600, Ext. 743 Cincinnati 2, Ohio, 809 Fifth Third Bank Building, DUnbar 1-2200, Ext. 345 & 346 37 Cleveland 1, Ohio, Federal Reserve Bank Building. CHerry 1-7900 Dallas 1, Texas, Merchandise Mart, Riverside 8-5611, Ext. 3287 Denver, 2, Colorado, New Custom House, KEy stone 4-4151, Ext. 598 Detroit 26, Michigan, Federal Building, WOodward 3-9330, Ext. 510 Greensboro, North Carolina, U.S. Post Office Building, BRoadway 3-8234 Honolulu 13, Hawaii, International Sav- ings Building, 58831, Ext. 464 Houston 2, Texas, Federal Building, CApitol 8-0611, Ext. 231 lacksonville 2, Florida, Greenleaf Build- ing, ELgin 4-7111, Ext. 546 Kansas City 6, Missouri. 911 Walnut Street, BAltimore 1-7000 Los Angeles 15, California, Western Pacific Building, Richmond 9-4711, Ext. 1261 Memphis 3, Tennessee, Falls Building, JAckson 6-3426 Miami 32, Florida, Ainsley Building, FRanklin 7-2581 Minneapolis 1, Minnesota, Federal Build- ing, 339-0112 New Orleans 12, Louisiana, Masonic Temple Building, 529-2411, Ext. 6547 New York 1, New York, Empire State Building, LOngacre 3-3377 Philadelphia 7, Pennsylvania. Jefferson Building, WAlnut 3-2400, Ext. 591 Phoenix 25, Arizona, New Federal Build- ing, 261-3285 Pittsburgh 22, Pennsylvania, Park Build- ing, GRant 1-0800, Ext. 785 Portland 4, Oregon, Old U.S. Courthouse, CApitol 6-3361, Ext. 421 Reno, Nevada, 1479 Wells Avenue, Fairview 2-7133 Richmond 19, Virginia, Parcel Post Building, 649-3611, Ext. 2413 St. Louis 3, Missouri, Federal Building, MAin 1-8100, Ext. 2241 Salt Lake City 1, Utah. 222 S.W. Temple Street. DAvis 8-2911. Ext. 341 San Francisco 11, Calif., Customhouse, YUkon 6-3111 Savannah, Georgia, U.S. Courthouse and Post Office Building, ADams 2-4755 Seattle 4, Washington, Federal Office Building, MUtual 2-3300, Ext. 492 38 U.S. GOVERNMENT PRINTING OFFICE : 1962 0—658519 key markets of the world are eager to buy the right U.S. products. Commerce international marketing specialists will locate the best sales areas for you. U.S. Department of Commerce Washington, D.C. 9M Where are they biting today: P EXPORTING IS LIKE GOING FISHING. You don't need fancy tackle, but enthusiasm, know-how and up-to-date information are in- dispensable,. INTERNATIONAL COMMERCE reports on profitable world trade and investment oppor- tunities and gives its readers up-to-the-minute advice on present and probable sales of U.S. goods and services throughout the world. SUBSCRIBE NOW. Pleate enter my subscription to □ Annual subscription, $16.00 International Commerce NAME ... ADDRESS CITY ZONE STATE Mail to: Superintendent of Documents, U.S. Government Printing Office, Washington 25, D.C. Enclose check or money order payable to Superintendent of Documents. PENN STATE UNIVERSITY LIBRARIES ADDDD7DTM3MSD it's your move U.S. Trade Missions are ready to present your business proposals in man-to-man talks with international buyers and investors. For example, the last four Trade Missions made more than two thousand practical business contacts. Trade Mission members can represent you this fall in Japan, the Philippines, Spain, Italy, and Greece. Write today to Trade Missions Division, U.S. Department of Commerce, Washington 25, D.C. There is no charge. It's your move.