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It already helps if you have a structured approach for your procurement and to keep your options open. Working with a local consultant or agency may help to identify more potential suppliers and to get the products that you just bought accross the border to their destination.
Our local consultant help you find relevant suppliers, approach them on your behalf and ensure you get the right proposals and deliveries.
Asia stands as a global powerhouse for sourcing a wide array of products and services, leveraging its economic diversity and industrial strengths across various countries. From electronics and manufacturing prowess in East Asia to agricultural exports and outsourcing capabilities in Southeast Asia, the region offers extensive opportunities for global trade and investment.
China, the world’s manufacturing hub, leads in exports of electronics, including smartphones and consumer electronics. It also excels in textiles, producing a significant portion of the world’s apparel.
Japan is renowned for its advanced technology exports, particularly in semiconductors, automotive components, and robotics. Its precision engineering and innovation drive global supply chains.
South Korea follows suit with high-tech exports, specializing in semiconductors, display panels, and telecommunications equipment. The country’s automotive industry also plays a pivotal role in global markets.
India dominates the IT services sector, offering software development, IT consulting, and BPO services. Its pharmaceutical industry is a major exporter of generic medicines and vaccines worldwide.
Singapore serves as a key financial and logistics hub, exporting electronics, pharmaceuticals, and refined petroleum products. Its strategic location enhances global trade efficiency.
Taiwan excels in electronics manufacturing, particularly in semiconductors and computer hardware. Its expertise in technology and innovation supports global tech giants.
Vietnam has emerged as a manufacturing hub for textiles, apparel, and footwear, benefiting from low labor costs and favorable trade agreements. It also exports electronics and agricultural products.
Thailand offers robust automotive exports, producing vehicles and automotive parts for global markets. Its manufacturing sector extends to electronics, food products, and petrochemicals.
Indonesia exports commodities such as palm oil, natural gas, and minerals, supported by its abundant natural resources. It also participates in electronics manufacturing and agricultural exports.
Malaysia is known for electronics exports, including semiconductors and consumer electronics. Its diverse economy also includes exports of palm oil, rubber, and petroleum products.
Wages across these Asian countries vary significantly. Countries like Japan, South Korea, and Singapore have higher wages comparable to Western standards due to their developed economies and high cost of living. On the other hand, countries like India, Vietnam, and Indonesia offer lower labor costs, making them attractive for manufacturing and outsourcing. China is already moving up strongly, making it only interesting for more high-end manufacturing.
The best preparation for doing business in any country is visiting it. This way you can experience the culture, check the shops and build your network.
Where it comes to hotels, research shows that if you check these platforms, in 80% of the cases you have the lowest room rates.
If you take your sourcing step by step, then it can’t go wrong.
Step 1
Try to identify in total 6 to 10 possible suppliers and check their websites. Approach them with a general request to see whether they have the products or services you need.
Step 2
Submit your requirements to a group of three to five selected suppliers and ensure you get the right comparable quotations to make a choice. Negotiate with one or two of them to get the best result.
Step 3
Now start collaborating, making sure you have an efficient ordering process and limited risks where it comes to quality control and shipping the products.
First of all you may have to pay import duties or settle VAT. There are certain thresholds for both of these charges, e.g. while importing in the EU you don’t have to pay import duties on any shipment worth less than € 150.
There may also be non-financial bariers, like certifications or approvals to be obtained. Especially for food, cosmetics or medicine this may be the case. Check this in advance, even before you invest in your marketing.
In developing or more developed countries also labour costs are getting higher, so there is no real bargain any more. On the other hand, the more developed a country is, the better the certainty for deliveries and the more focus there is on quality.
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