Blog

Welcome boost amid economic gloom

Posted on December 20, 2011 by BlogAdmin

Official figures suggest that British firms are selling record amounts abroad. According to Jim Armitage in the Evening Standard the latest export figures have given the UK’s battered economy an unexpected boost. Exports rose to £26.5 billion from £24.1 billion, while imports fell to £34.1 billion from September’s record £34.6 billion.

Alan Bracken of ABTS Training Services said: “This is welcome good news in a gloomy economy. Exports are still holding up and contributing to the steady growth of our economy. However we are in a very competitive global market place.

“We must continue to offer quality products, services and delivery times to meet the demands of overseas customers. Exporters must be encouraged by our government to secure orders which in turn can be translated into jobs in the UK.

“Exporting companies need to exercise best practice in all aspects of their export drive from negotiation techniques to delivering the finished produce and getting paid on time. Having a well trained and motivated staff is key to their overseas success.”

ABTS Training Services offers export, import, negotiation and methods of payment training wrapped up in one five week part time course based on Alan Bracken’s twenty years experience in international trade.

Check out our website for further information about the International Trade course or write to us at consultancy@abtslogistics.co.uk to find out how we can help your export drive.

Getting it right

Posted on November 7, 2011 by BlogAdmin

According to a recent survey by Lloyds Bank Corporate Markets, exports are rising as business looks to diversify into fast growing economies. However, it warned, trading overseas has associated risks.

Alan Bracken of ABTS Training Services commented: “Many UK companies are now expanding into new global markets which can only be good for our faltering economy.

“However, they must have a strong understanding about the business of exporting, such as negotiation skills with overseas partners and understanding the different commercial cultures. They must be in a position to deliver the sharp end of exporting in terms of understanding documentation and freight rates and working with third party providers such as clearing agents and freight forwarders.

“Get it right and it is a smooth operation. Get it wrong and you are in deep trouble.”

Getting it right is the theme of ABTS Training Service’s five week, part time, International Trade course. By the time you have completed the course you will be ready to export profitably and with a clear knowledge of what is required of you.

The trouble with Incoterms

Posted on November 1, 2011 by BlogAdmin

Since the introduction of Incoterms 2010, some importers and exporters have been struggling with the new edition especially with the new rule for delivery and passing of risk with FOB, CFR, CIF.

The old “over the ships rail” has gone (how did we ever manage that with RO/RO?) and been replaced with “on board” the vessel, a clearer and more sensible place to transfer risk and delivery.

The new Incoterms DAT and DAP have been a welcome addition for traders, giving them a better variety of delivery points.

Incoterms 2010 has been a welcome and refreshing edition and as ever illustrates clearly the trader’s responsibilities under place, cost and risk. However traders are still making the same fundamental mistake with Incoterms 2010 as they did with previous editions.

They do not indicate that the term they quote is subject to Incoterms 2010, thus leaving the responsibility under place cost and risk up for grabs, contrary to the reason why Incoterms was initially established back in the early 1930s.

If you have been trading under Incoterms 2000, understanding the transition to the latest edition can be accomplished in our half day ‘Incoterms 2010’ course.

For beginners, our one day introductory course will set you off on the right foot.

Where credit’s due

Posted on October 26, 2011 by BlogAdmin

Almost half of letters of credit received in the UK are unworkable according to recent research – that is the buyer requests documents which the seller is unable to produce.

Recently, for example, a Turkish buyer requested an ATR movement certificate from a UK seller for goods despatched direct from Peru to Izmir in Turkey. This was not possible as the ATR movement certificate can only be issued for goods which meet with the rules or origin that goods must be manufactured and produced within the EC or in free circulation.

Alan Bracken of ABTS Training Services stated at a recent seminar on letters of credit: “You get the letter of credit you deserve, if you don’t ask you don’t get.

“In order to get a workable letter of credit you must give the seller details of the letter of credit you require.”

ABTS Training Services is running one day in-house and public courses on documentary letters of credit throughout the year; one of the topics addresses how to request a workable letter of credit.

Stronger trade performance must be nourished

Posted on October 25, 2011 by BlogAdmin

New export figures published by the ONS give cause for optimism according to the British Chambers of Commerce.

David Kern, Chief Economist at the BCC, commenting on the trade deficit for August, said: “The trade figures for August show an improvement in the overall trade deficit, and are better than expected. A revision of previous figures means that the trade deficit was smaller than previously estimated. Excluding all erratic items, exports have increased more strongly than imports over the last month, and also on a three-monthly basis. It is encouraging that, even in a difficult international environment, Britain is able to strengthen its trading position.

“The figures provide a welcome contrast to the steady flow of negative news we have recently. However we cannot underestimate the challenges ahead for exporters, particularly in the face of the serious problems facing the Eurozone, which remains our major trading partner. As the fiscal austerity plan dampens domestic demand, net exports have to be the main engine of Britain’s economic recovery.

“This means that the government must support a national export drive. Unless we accelerate the pace of export growth and we gain market share from imports in the domestic market, it will be difficult to sustain UK growth. The government must strengthen its backing for SME exporters in key areas such as trade finance, insurance and promotion.

“While a competitive pound and low interest rates can help our exporters, further efforts are needed to ensure that our businesses can compete equitably with foreign exporters. On their part, Britain’s exporters must make every effort to diversify their sales towards fast growing economies such as India, China and Brazil.”

Alan Bracken, course director at ABTS Training Services, added: “Companies who need to export from the UK must retain highly trained staff that can confidently provide an export service to support the companies export drive.”

Welcome to the New Website and Blog

Posted on October 1, 2011 by Marcus

Welcome to the brand new website and blog for ABTS Training Services.

We have been working hard on our new site and will be soon offering an online import export training course. Register your email and mobile if you would like to be notified when the course is online. We expect it to be ready by the end of the year.

Keep an eye on our blog for the latest industry news and any news and updates within ABTS Training Services.