Export promotion, definition and how to benefit from it

What is export promotion?

Export promotion is used by many countries and regions to promote the goods and services from their companies abroad. This is good for the trade balance and for the overall economy. Export promotion can also have incentive programs designed to draw more companies into exporting. Governments do this by providing assistance in the marketing and product identification and development, by arranging payment guaranty schemes, pre-shipment and post-shipment financing, trade visits, training, trade fairs, and foreign representation.

You can benefit from export promotion efforts

It is always a good first step to have a look what programs your country or region that may benefit you. One option for example is participating in country, state or regional pavilions on major trade shows. On top of that, many governments have subsidies for market research, partner searches or other activities where the aid of a professional is needed to make exports work. This can also be in the form of a fiscal incentive. Singapore for example has the Double Tax Deduction on business development expenses made overseas.

Alliance experts can help you with your country’s arrangements

In most of the countries where we are based we know the government arrangements and can advise you on this. In a number of cases subsidies are available for our export development services as well, such as market research or finding agents or distributors. Just contact one of our team members.

 

This entry in dictionary was updated on May 11, 2020 by specialist.