An international trade center assists companies in importing and exporting goods.
An international trade hub facilitates world trade through collaborative and educational activities. These centers normally exist to give practical assistance to commercial interests and to encourage vigorous commercial relations between nations. The centers can provide assistance at a local, national or international level. An international trade center also offers assistance in creating a place for business professionals and government officials to network. Advising local and national governments on how best to facilitate world trade is another aspect of the work of an international trade hub.
Across the world, there is a complex web of interactions between various business entities. Acting alone, a single company, even if it is a large corporation, can face road blocks and other barriers when trying to ship or receive goods internationally. The staff of an international trade center can offer advice and practical assistance to companies wishing to trade internationally. For example, a US company in the state of Washington may seek to increase exports of wood products to Japan, but the business owner may not have sufficient knowledge of trade customs and legal requirements that may be involved.
These trading centers provide training to companies in building relationships with trading partners in other countries. Training may include an understanding of customs in another country’s business practices. For example, in the United States, it is often considered impolite to take too much time to socialize before trade negotiations begin. In many Middle Eastern countries, however, it can be considered rude to jump into business discussions until certain social pleasantries have taken place, which can take hours or even days to complete.
A local international trade center is usually situated close to a national border, but not always. Major ports around the world often have these hubs, as agents for exporters and importers may have offices nearby. These organizations may also be located in cities with international airports.
The facilities of an international trade center often include rooms for business trade professionals to gather so they can interact with one another. Those who already have some experience in business relationships can share with newcomers, forging collaborative partnerships. Information shared may include references to freight companies or attorneys who specialize in drafting legal agreements for business partners. Due to the scale and costs of establishing trade relations with other nations, it is often useful for individual companies from one country to become members of a trade delegation.
Employees working for an international trade hub can also educate and advise policymakers on how best to enhance productive trade relationships. An innocent but embarrassing gaffe can damage a productive business partnership. If a politician makes a gaffe, the damage can be significant.