Trade points help facilitate overseas
business transaction by bringing together all service
providers related to export import trade. The focus
is on Small and Medium Enterprises (SME). While Industry
Associations focus on domestic market and lobbying
with government, trade points focus on helping SMEs
take greater participation in international business.
What is a Trade
Point ?
A trade point is a meeting place for
various entities related to foreign trade - buyers,
sellers, inspection agencies, customs, foreign trade
institutes, freight forwarders, transport companies,
banks and insurance firms etc. Its mission is to foster
greater participation in international trade in particular
of small and medium-sized enterprises, by reducing
transaction costs, by contributing to the simplification
and harmonization of trade procedures worldwide, and
giving traders access to advanced technologies and
information networks.
Origin of Trade
Points
Origin of Trade Points is an initiative
of the United Nations Conference on Trade and Development
(UNCTAD) to assist Small and Medium Enterprises (SME)
participate in International trade. According to this
program - Trade Points are :
-
business facilitation centers, physically
or virtually aggregating agents involved in foreign
trade transactions (eg. in customs clearance,
transportation, banking, insurance, etc);
-
sources of information on foreign
trade;
-
gateways to global trade nets and
to trade opportunities, operating in a network
through the World Wide Web
Evolution of
Trade Points
The GTPnet or Global Trade Points Network
has established more than 160 centres worldwide. Though
the initiatives were really path breaking - most of
the good work was undone by an overemphasis on govt
machinery rather than free market initiative to create
a vibrant information sharing network. Good news is
that there is now visible indication of greater non-govt
initiatives with more and more private trade points
emerging. These trade points are helping traders in
their respective countries in a significant way to
reach global markets.
Trade Points
as Source of Information
Trade points, could be great source of
information on foreign trade, specially information
pertaining to a foreign market. Following is a list
of trade points (both UN sponsored and private ones)
who could be great source of information. This is
only a partial list for demonstration - please use
following link to list of 160 UN sponsored trade points
for a comprehensive listing.
World Trade Point Federation http://www.wtpfed.org/trade_point.html
List of Selected
Trade Points
Trade Point
Information Exchange program
We at www.infobanc.com have initiated
a program to share information with more than 300
Trade Points, Chambers of Commerce, Industry Associations,
Trade Promotion Orgns etc. throughout the world. We
publish a weekly newsletter called 'SUCHNA' for foreign
trade organizations. SUCHNA contains trade inquiries
from Indian importers. Overseas trade organizations
receiving SUCHNA send us BUY/DEMAND inquiries received
from their members for distribution among Indian exporters.
This has proved to be extremely helpful as Indian
importers receive excellent quotations from actual
manufacturers and exporters and our exporter members
receive genuine buy/demand inquiries from overseas
importers.
