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WADE TRADE NEWS

This month you will find good news on trading with the USA, New Zealand, India and Iraq, information on getting started trading herbs and spices and also kitchenware – plus how to get started using the social networking phenomenon that is Twitter in your import-export business!

USA to see growth in 2010 and 2011 ?

It could be well worth revisiting US trading opportunities with the news that the economy here should begin growing again this year. The US economy will enjoy 2.7% growth in 2010, followed by 3.8% growth in 2011 – according to the latest US federal budget. The report says that the country is heading for six years of stable economic growth, combined with steady inflation and stable interest rates.

The US Commerce Department also said that consumers are beginning to spend again, if only slowly. US consumer spending increased by 0.2% in December 2009. Although this was slightly lower than economists expected this was the third consecutive monthly rise. Consumer spending accounts for about 70% of the US economy – so is considered a very important indicator of prospects and potential in this major world market. On a more worrying note, the US unemployment rate is not expected to fall much below 10% this year.

New Zealand-India Free Trade Agreement under discussion

India and New Zealand have begun negotiations to set up a Free Trade Agreement or FTA. New Zealand Trade Minister Tim Groser and India’s Commerce Minister Sri Anana Sharma met at a World Trade Organisation (WTO) meeting recently to formally announce the start of discussions.

Groser said the agreement would put New Zealand in pole position to benefit from India’s economic growth. He said the deal held great promise for New Zealand businesses and negotiators would look closely at how the high barriers to trade between the two countries can be eliminated. Although barriers to trading with India are currently significant India is still one of New Zealand’s fastest growing markets and exports to India have tripled in the last decade. India already has a population of more than a billion people and is expected to be a major world economy (together with Brazil, Russia and China) by 2025.

Using Twitter to find trading contacts

You might have heard about Twitter. Maybe you’re even a regular tweeter, twitterer, twit or whatever Twitter users are now being called. It’s the latest kind of social networking site, designed to keep us all up to date with what we’re all doing. Well, the latest new arrivals on Twitter are business tweeters. Now, a whole range of business are using the network to keep in touch with their customers and promote their businesses. An increasing number of importers and exporters, distributors, wholesalers and agents are now using Twitter to send out news and undertake research to find new trading contacts. To get started simply sign up at http://twitter.com. Write a profile about your business and what sort of products you want to buy/have to sell. You can also search for trading contacts using the ‘find people’ tool. At the moment using Twitter for business purposes is all a bit untried and untested. But it’s free and easy to use, so well worth giving it a try.

Opportunities for importing-exporting herbs and spices

Herbs and spices are widely used for culinary and other purposes in most countries of the world. Being small, light and of high added value they can represent an easy and profitable product to trade. The European Spice Association (ESA) calls itself the united voice of the European spice and seasoning industry, representing and actively promoting the industry. It represents the herb, seasoning and spice industry in the European Union with member countries including Belgium, Netherlands, Denmark, Spain, Finland, Sweden, France, Switzerland, Germany, UK and Italy – plus Turkey and India (both major producers of herbs and spices). Their website is at www.esa-spices.org. The Seasoning & Spice Association in the UK also has a useful site with background information and links: www.seasoningandspice.org.uk.

Why Not Trade Household Goods ?

The International Housewares Association (IHA) is a US-based full service trade association dedicated to promoting the sales and marketing of housewares. It’s been in operation since 1938. The International Housewares Association calls itself the world’s ‘Home Authority’ and is strategically positioned to connect, inform, support and enable its international membership to succeed in the global housewares marketplace. At the centre of IHA’s activities is sponsorship of the International Home & Housewares Show – a world class trade show held annually in Chicago each March. The International Housewares Association also assists its members throughout the year by offering global opportunities in the international arena, by providing business solutions for operating more profitably, and by developing reliable industry resources for growing their business. Lots of info. and news about the household goods industry on their website: www.housewares.org

Iraq Directory

Iraq isn’t a country that would first come to mind when thinking of import-export opportunities. But with many areas of the country now stable, massive reconstruction projects underway and some companies beginning to export it can be worth a look. Here’s a directory that can help you: IraqDirectory.com is a comprehensive online directory (in both English and Arabic) that allows Iraqi businesses to promote and advertise their products, services and contact information. It is free to those looking for contacts. There is a useful business news section and you can also search for international companies who are currently doing business with Iraq. Website: www.iraqdirectory.com/en/default.asp

More Help & Information

That’s all for this month. Look out for April’s bulletin when I’ll have some more leads that can make you money. Meanwhile, if you need more help or information on the products Wade World Trade has for you, including our seminars and courses, our website is open 24/7 – find us at www.wadetrade.com. You can also view a brand new presentation by Wade’s MD Justin Power, explaining how you can get started in import-export without a penny in capital.

Until next month,

Mark Hempshell
Editor