Over the course of the last three years, the Trade Forward Southern Africa programme has engaged in multiple initiatives to support economic development in Southern Africa. One such initiative that we are incredibly proud of is the TFSA School of Export. This article will explain a little more about how the TFSA School of Export supports trade from Africa and what we have in store next for the exporter community.
How does the TFSA School of Export support international trade?
Engaging in international trade is complex and everchanging. For African exporters to succeed in the international market, they must have access to a resource that provides them the on-demand information they require before they make costly mistakes. The TFSA School of Export provides all African entrepreneurs and business owners with such a resource. The TFSA School of Export is an online learner management system that is freely accessible to all. The platform provides E-learning modules created by the International Trade Institute of Southern Africa and offers exporters clear and concise information on all things international trade.
Who is the International Trade Institute of Southern Africa?
The International Trade Institute of Southern Africa, or ITRISA, is Africa’s foremost trade training expert and has been at the forefront of exporter development in Africa for decades. They have also worked with several prominent multinationals, governments and NGOs in designing, developing and implementing solutions that achieve economic development through international trade. ITRISA is registered with the Department of Higher Education and Training in South Africa and holds international accreditation.
What international trade module should you do first?
If you are starting in international trade, we advise you to complete our Export Foundations Course. The course will equip you with the knowledge you need to begin navigating the complex world of international trade. The Export Foundation Course has seven modules that all build on the information in the preceding module. Below is a breakdown of all seven modules.
Module 1 – Understanding the Global Trading Environment
Before you embark on an export drive, you need to understand the international trade environment. In this module, we explore why countries trade with each other, what factors influence what a particular country produces more efficiently than others, and how a country’s stage of economic development affects what they trade international. Furthermore, we outline why governments impose tariff and non-tariff barriers, introduce you the international trade bodies that have contributed to global trade practice and compare regional trading blocs, bilateral free trade agreements and multilateral free trade agreements.
Module 2 – Determining Your Company’s Export Readiness
One of the biggest mistakes businesses make is marketing for exports before they are ready for the international market. In this module, we outline the benefits and challenges associated with exporting, compare the inherent differences between domestic and export sales, and explain the prerequisites your company needs to meet before engaging in exports.
Module 3 – An introduction to International Marketing
Marketing for exports requires a carefully constructed export marketing plan and a solid understanding of how to maximise your international marketing return. In this module, we explain how the international marketing environment could impact your chances of success and how to choose the right market for your product. In addition, we outline potential market entry strategies, the international marketing mix, and how to devise an export marketing plan.
Module 4 – Understanding the export Administration Process
Exporting products to foreign markets requires meticulous attention to detail and a solid understanding of your business environment. In this module, we outline the various parties involved in an export transaction, introduce you to the documents that may be required and explain the sequence of steps involved in concluding a typical export deal.
Module 5 – Choosing an Appropriate Mode of Transport
Engaging in international trade could involve delivering your goods to a buyer on the other side of the planet in ultimately foreign conditions. Often choosing the most appropriate mode of transport for your goods mitigates your risk, maximises your profit and improves your chances of international success. In this module, we will explain the different forms of cargo and modes of transport utilised in international trade and help you ensure you choose the most appropriate mode of transport for a particular export transaction.
Module 6 – Selecting Suitable Delivery Terms (Incoterms® 2020)
Even the most experienced exporters in the world still often misuse the ICC Incoterms® rules with disastrous consequences. In this module, we explain the purpose of the Incoterm® rules, outline the role played by the International Chamber of Commerce and explain the implications for both buyer and seller on all 11 Incoterms® 2020 rules.
Module 7 – Managing Export Financial Risk
International trade inevitably involves a tremendous amount of international financial risk. In this module, we explain how various international payment methods impact the risk you face and help you assess your overall financial risk. But most importantly, we explore various mechanisms that exporters can use to mitigate international financial risk—for example, letters of credit, forward contracts and export credit insurance.
Does the TFSA School of Export only offer international trade training?
We understand that to increase the volumes of exported goods from Africa, we need to incorporate practical export assistance. Thus, the TFSA programme is constantly looking for potential partners, entrepreneurs and funders that could contribute tools, private sector solutions and expertise to our efforts in growing Africa’s participation in international trade. We believe the TFSA School of Export is the starting point in creating a community of innovators dedicated to developing Africa through trade. Click here to join our community and be notified of additional learning modules, tools or new partnerships created.
To sign up to the School of Export CLICK HERE.
If you already have a profile, CLICK HERE to login to begin the module.
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