Complete Import Export Guide for Beginners

Basic Concepts of Import and Export

Exporting is the activity of selling goods and services from a domestic market to a foreign market. Importing is the activity of buying goods and services from a foreign market to a domestic market. These two activities are important driving forces of the global economy and create economic development opportunities for businesses.

Basic Import and Export Procedures

1. Document Preparation:

Export documents typically include sales contracts, transport documents, customs documents (Invoice, Packing List, Bill of Lading…), certificates of quality, certificates of origin… Import documents are similar, but focus on import licenses (if required), payment documents…

2. Customs Declaration:

This is the most important step, requiring high accuracy. Errors in declarations can lead to fines, goods being held, or being returned. The use of modern customs declaration software and the support of experts will help this process run more smoothly.

3. Goods Transportation:

Choose a suitable mode of transport (sea, air, land) depending on the type of goods, time, and cost. Risk management in transportation is also very important.

4. International Payments:

Common international payment methods such as L/C (Letter of Credit), T/T (Telegraphic Transfer), D/P (Documents against Payment)… need to be carefully selected based on agreements with partners.

Laws and Regulations on Import and Export

Compliance with laws and regulations on import and export is a prerequisite for successful business operations. A thorough understanding of laws and regulations on import and export taxes, quarantine, quality standards… is essential. Find out more information from customs authorities and relevant ministries and agencies.

Import and Export Experience

Understanding the target market: Thoroughly research the needs and preferences of consumers in the export/import market.Choosing reliable partners: Selecting reliable partners to ensure smooth transactions.Risk management: Preparing contingency plans for potential risks during the import/export process (e.g., transportation risks, policy risks…).Cost optimization: Finding ways to minimize transportation costs, taxes, fees…

Expanding Knowledge

Participate in import and export courses and workshops to update the latest knowledge. Connect with other businesses in this field to learn from experience.