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B2Bs Provide More Opportunities for Genuine Business Profiles

May 21, 2009 · Leave a Comment

Business to Business (B2B) portals are the most innovative trading tool in the world. Nowadays, majority of international traders use B2B portals apart from conventional trading models. Yet the companies which are listed in the portals do not give much importance for presenting their company profile with right details. If necessary care is given to this end, the companies can guarantee desired results. Important points one should take into consideration while signing up are the following:

. Register with an e-mail id one ‘often’ uses.

. Select the correct type of one’s business. For example: Exporter, Importer, etc.

. Contact address should have all the details including phone numbers with international codes, website, etc.

. Contact person’s name, preferably of the person who has signed up.

. Company description should be a well thought out one, and should have professional touch, to give added value to one’s company and its business activities.

. Choose appropriate sector- i.e. if one is in the agri-business sector and have various related businesses of the respective sector, then one can use the broad-based term agri-business as one’s company’s sector. But if one is in a specific sub-sector, one should choose that particular sector to get maximum business inquires from interested members.

. Mention time frame for dispatching one’s products or services.

. Mention minimum or maximum acceptable amount of one’s trade deal, according to one’s type of business.

. Acceptable time delay on payments also should be made available as added information.

. Choose incoterms which can give full protection against payment.

. Regions or countries one can be part of the trade.

If one is already a member and one’s company profile needs changes, the profile should be updated as and when required including contact information, company description, etc. And after creating or updating one’s profile, one should start looking for profiles of one’s business interest and should try to contact them through available tools; mostly it would be limited to the portal which one has been registered. But if one wishes to take one’s business communication beyond the topical portal, one may be prompted to become the premium member.

Yet within most portals, one could send message to other profiles; through this channel one should try to make contact. If one is a free member, one has to be satisfied with limited access. Most of the members whom one would have contacted, in all likelihood would desist from responding because one is with a free status and there are many crank users these days whom which misuse B2Bs. Therefore, recipients fear that even after prolonged negotiations, chances of striking a deal would be a distant one.

Even if one becomes a paid up member of these portals, instead of waiting for the promised inquiries by the portals, one should take pro-active measures to invite interest in one’s products or services by other related businesses in the database. Thus, one can improve one’s chances of doing business through B2Bs faster than one would have imagined. If one takes the services of top B2B portals and use it/them in the right manner researches show that businesses have immensely benefited not just by deriving few business opportunities, rather one was able to establish a long-term business relationship with their clients.

Toboc

Categories: B2B Business · B2B Portal · Global B2B · World B2B
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During China Visit the Brazilian Prez Reiterates the Need to Depart from USD

May 21, 2009 · Leave a Comment

President of Brazil, Luiz Inacio Lula da Silva in his visit to China reiterated that both countries should work towards integrating respective currencies in their bilateral trade and thereby reduce transaction costs by eliminating the charges on currency exchange. Even during last month’s G20 summit in London, Lula had drawn attention to this need to his counterpart Hu Jintao following China’s central bank governor Zhou Xiaochuan suggested dumping the dollar as the global reserve currency and replacing it with a different standard run by the IMF.

Lula’s proposal seemed to be very genuine since early this year China became the largest trading partner of Brazil by displacing the US. Brazil’s exports to China, which primarily consist of iron ore and soy products, jumped to $5.6bn earlier this year, up from $3.4bn for the same period in 2008. The most significant agreement out of the 13 accords signed by Brazil and China was $10bn loan to Brazil in exchange with up to 200,000 barrels of oil per day for the next decade.

According to sources, Bank of China (BOC), the world’s third largest bank by market value, will open its first branch in Brazil in two or three months, purportedly a quick response to Lula’s call. In September, Brazil and Argentina signed a similar pact under which traders from both countries could trade in local currency with the US dollar as secondary option. The figures from the Brazilian central bank and trade ministry in last month showed, the two Latin American nations traded $22.6mn in local currency out of more than $1.6bn of total trade.

China is promoting the yuan as an international currency after signing 650bn yuan ($95bn) in swap agreements with Argentina, Indonesia, South Korea, Hong Kong, Malaysia and Belarus since December. Though there are many sceptics to the practicality of the idea, Shi Lei, an analyst in Beijing at the nation’s largest foreign-currency exchange said trading yuan or local currency would be a reality with the agreeing nations in a couple of years’ time. The emphasis should be to first start yuan settlement with Hong Kong and build an offshore yuan center to expand channels for yuan use, he added.

China holds $1 trillion investment in the US government debt, the world’s largest such holding, and the country is worried that the US’ ‘spending’ program to counter the recession will weaken the US dollar and eventually devalue the Chinese holdings. This fear has prompted China with the support of likeminded trading partners to minimize over-dependence on the US dollar as the ultimate invoicing currency.

Toboc Trade News

Categories: Bilateral Trade · Business · Economy · Global Economy
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