How Does Export Portal Facilitate Global Trade?
The timeline for exporting goods ranges from six and 86 days, and involves two to 11 documents. Meanwhile, imports could take up to 130 days, and as many as 17 documents are needed for crossing international borders.
Among underdeveloped or emerging markets, this meant significant costs in inventory, warehousing, processing and local shipping of goods before they were shipped to the destination. Because supply and demand could change on a dime with high frequency, inventory levels were required to be much higher, and forecasting demand versus supply was almost impossible.
Export Portal functions by connecting all parties involved in the transaction in one place, making the exchange of information faster and uniform, lowering risks and shortening transaction time. Thus, making the international trade process easier for companies in foreign countries that wish to export or import goods. Export Portal is a marketplace that provides opportunities for businesses from foreign countries to enter global trade faster through access to the unified platform and integrated system.
What Does Export Portal Mean to Businesses and Manufacturers?
Bureaucratic delays and “red tape” pose a burden for moving goods across borders for traders. Trade facilitation—the simplification, modernization and harmonization of export and import processes—has therefore emerged as a crucial issue for the world trading system. Each player of an international transaction is so disconnected that it makes it difficult for a business to enter a global market and engage in a secure and profitable import or export transaction.
Export Portal is not only making the process easier by integrating all parties involved in a transaction in one place, but it also helps businesses access more markets which helps drive the company forward.
Export Portal facilitates and democratizes information to improve transparency. In large-scale imports and exports, companies need to check and inspect the product quality, business license, the year the business is established, and pre-negotiate safety terms to avoid getting scammed. With Export Portal’s verification process, we ensure that buyers only trade with legitimate companies that sell verified products. By improving our transparency, Export Portal provides low risk, a shorter transaction time, as well as eliminating the unnecessary middlemen and extra fees.
Our team of experts will assist buyers with their global transactions, such as understanding contracts, international trade rules, customs regulations, and shipping policies. Implementing this process is a way of solving problems that businesses have experienced.
In the global scheme of things, we created a simplified, decentralized system that eliminates the middleman and helps members with their transactions. Export Portal is opening its platform where secured peer-to-peer trading is the focal point of business. Sellers, manufacturers, buyers, and shippers will transparently trade on Export Portal. Incorporating an openness in our business model where buyers and sellers communicate directly allows a business to move faster and smoother. In doing so, businesses have a shorter transaction time.
The process begins with sellers and manufacturers using the Export Portal site as their virtual showroom where buyers around the world can search for the products they need. After selecting the desired products, buyers’ full payment will be placed in escrow until all products have been verified.
Certified international shippers will openly bid on transactions with products that are ready to be shipped to ensure delivery will benefit both buyers and sellers. While products are in transit, buyers or sellers will have open access to real-time updates to guarantee a smooth delivery. Buyers will be notified that products are undergoing customs inspection.
Ultimately, we want to create a safer global marketplace where sellers, manufacturers, or buyers can conduct business with full confidence. We understand that international trade and investment are essential drivers of our global economy. However, shifting geopolitics and trade policies have been volatile lately. Export Portal wants to be at the forefront of strengthening and solidifying the export and import industry.
In five years, our goal is to open offices in major port cities so we can better serve our members and the entire industry. This goal complements the growth of international production networks and the spread of digital economy which strengthens the role of investment and a game changer for global cooperation. Societal unease with globalization is evident in debates on the power of corporations, labor, environmental standards, and tariffs and trade.
Positive change requires a thorough understanding of the new dynamics and trends of commerce, inspirational narratives, operational integration, reallocation of resources, and results-oriented leadership. Our network involves businesses that inspire and uplift all our partners on the platform. We, at Export Portal, encourage responsible companies around the world to join Export Portal’s growing network.