Importing and exporting entails numerous challenges, particularly concerning the comprehensive analysis of the target market in the importing country and the assessment of potential export markets in the exporting country. Consequently, the significance of an Import and Export Plan lies in its capacity to examine trade volumes between the exporting and the importing country of the target product, in addition to delineating import and export requirements.
Why is the import and export plan important?
Companies cannot continue long in the process of exporting or importing without an export and import plan for the target market. It determines the customs tariff for the target product and the companies importing the target product in the importing country.
The Export and Import Plan defines the target market of the importing country and provides business indicators in that market, taking into account the volume of trade between the exporting and importing country of the target product. It provides entrepreneurs with guidance data that helps them make the appropriate investment decision to be stable in the market.
Elements of the Export and Import Plan
After defining the target product and target market, it provides an overview of the target country, import and export requirements, customs tariff policy, trade statistics between the importing target country and the entire world, and trade statistics between the importing and exporting country.
The Export and Import Plan provides accurate data and analysis on the rate of global imports and exports of the target product, prepares a list of countries exporting the product in the target market, and prepares a list of countries categorized by import of the target product. The Export and Import Plan includes main elements in each study, as follows:
