According to a provision proposed in the latest budget, Indian Custom Officials can now ask importers about imported goods. The provision is applicable to all imports that have happened within the past five-years under the Free Trade Agreement (FTA). According to the Directorate of Revenue Intelligence, it will help Indian Custom Officials curb instances of false claims for FTA benefits. India’s deficit has dropped from $148.2 billion in April-December 2018 to $118.1 billion in April-December 2019.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-2.png" alt="" width="300px"> The rules of origin serve as criteria to determine the origin country of any imported product. The information will be used by the Indian Custom Officials to determine if FTA claims are legitimate or not. According to the Directorate of Revenue Intelligence (DRI), the use of fake documents has been on the rise. Importers often show fake documents to change the origin country to take advantage of India’s trade pact laws. &nbsp; However, industry experts are not happy about the decision by the Indian custom officials. It could lead to harassment even for legitimate importers. The move comes in the wake of the Indian government trying to curb imports in the country by introducing stricter norms. Industry representatives have called the move protectionist citing low utilization of FTAs in the first place.

Indian Customs to Quiz Importers on FTA claims

How would you feel when your exported goods do not clear customs upon arrival at the destination port. Wouldn’t you feel disappointed, or maybe a tinge of regret? Well, here’s some good news!Countries have recently started to keep a check of the standards of goods, coming into the ports. These are the Certificate of Conformity of various countries. Saudi Arabia is one of the major export markets for India’s rice. According to a recent <a href="https://www.business-standard.com/article/economy-policy/india-s-rice-exports-hit-as-saudi-arabia-makes-quality-rules-stringent-119092401288_1.html" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">business-standard article</a> Saudi Food and Drug Authority (SFDA), the quality regulators in Saudi Arabia, has made it mandatory from 1st September 2019, for each rice consignment to be accompanied by a CoC, however Indian Rice Exporters have been given time till 31st December 2019 to provide an affidavit that they will submit a CoC for the shipments that are being shipped after 1st September 2019. So, as an exporter or importer, this is something you must know about.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 1.png" width="auto" style="width: auto; height: auto;"></a>Certificate of Conformity (CoC) is a document issued to the exporter and importers indicating that the shipped products meet the required standards. This document is generally required for the customs clearance of your goods. In layman's terms, this is the passport of your shipped goods.Many countries initiate specific standards to maintain the quality of goods imported into the market. This is undertaken to ensure the safety and wellbeing of their citizens, and some countries insist that before products are exported, they are inspected to maintain standards.Traditionally, governments used to inspect goods at the entry port. However, this could result in a massive monetary loss for the exporter due to delays, as he would have already paid for freight and goods. Thus this practice started happening before the goods are dispatched.The Saudi Arabian Standards Organization (SASO) certificate is a necessary document to clear customs when exporting to Saudi Arabia. SASO CoC (Saudi Arabia Certificate of Conformity) certifies that the goods have been tested and inspected to meet the needs of the SASO standards. However, goods can be subject to additional inspections as per customs officials need, on the arrival of the item in the Saudi Market.<a href="https://cogoport.com/signup/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" width="auto" style="width: auto; height: auto;"></a>Procurement of a SASO certificate is a month-long process or even more. There are several independent agencies that provide you with a SASO CoC. However, you would need the following before you begin the application process:&nbsp;<ol><li class="ql-align-justify">Signed and stamped commercial invoice on the company's letterhead, duly stamped by the local chamber of commerce</li><li class="ql-align-justify">Certificate of Origin obtained from the local chamber of commerce, verifying the country of origin of goods you want to export.</li></ol>Once these things are procured, you will need to send these over to the agency with a SASO CoC. In turn, they will inform what tests and inspections are required for the certification.What you will need to know if you are regularly exporting to Saudi Arabia is that you can register your products with the SASO CoC providing agency. Expediting the testing process of your products. A possibility lies that one of your two shipments is going for the testing phase.&nbsp;In addition to these, you must know that the inspecting agencies must be authorised and recognised in Saudi Arabia. So people do keep a note, no matter how good quality your goods are, if you are not providing the SASO CoC for the same, you can’t export to Saudi Arabia.Happy Cogo-FreightingLooking to sign up for Cogoport’s service? Click <a href="https://www.cogoport.com/" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">here</a> to get started!Read more about <a href="https://www.cogoport.com/en-IN/blogs/trade-finance-risks-exporters-should-beware" target="_blank" style="color: rgb(17, 85, 204); background-color: transparent;">Trade Finance Risks</a> here.&nbsp;* The information contained in this article is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

SASO CoC for Rice Export to Saudi Arabia

Speed and impact have now proven their play in other business models and markets. They now drive the new alternative models. Weaving these models tight with belts on is the hidden buzzword - Technology. Strategies which are technologically-driven are now knocking on the doors of standard logistics houses.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" width="auto" style="width: auto; height: auto;"></a>The shrinking size of the company and its rising procurement cost and sales cost could be addressed by a technology that will not only offer solutions, but also respond proactively with reviews and regular feedback.So will this template, called Technology, lead to a disruptive model of a system that sees so many hand-offs.In this rat race, it is the addition of value that will determine disruption. A tech-enabled platform could be synonymous with this `value’. So, would the existing mediators feel vulnerable with this opportunity-seeking, technologically-sound, real-value-adding service provider? They could, of course, ally with a new player that worked at building technology platforms for ease of business and brought in better standards. Would there be time to experiment?<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" alt="" width="300px">Therein lies the challenge -&nbsp;Of tapping opportunity in an industry that could be the best case of using technology.&nbsp;In a competitive and transparent environment, every added value could influence user behaviour. Technology would just provide the means to the end – a complete and honest ecosystem – as long as every stakeholder persists on the value quotient..Watch this space for more…. Next: " The Limit(lessness) of technology”

Shipping Technology: Redefining Value Addition

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Top 3 Busiest Container Ports in India

Cargo, when transported around the world is faced with many risks, regardless of the shape and size. Be it the weather or human error, cargo loss is revenue lost for exporters and importers. This is where marine insurance will be crucial. Marine insurance will typically insure losses against physical damage to cargo on the move or in storage.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" width="auto" style="width: auto; height: auto;"></a>
But what is marine insurance exactly?

In many ways similar to regular insurance, marine insurance is designed to meet the needs of the shipping industry. It helps to protect against loss or damage of cargo including the cost of moving it, or liability to a third party occurring during a shipment. It can be extended to cover losses on inland transport either by inland waters, road or rail.

How will marine insurance offer protection for your cargo?

Marine insurance policies tend to cover commonly defined packages. If you are looking for a fully comprehensive cover you may need what is called “Institute Cargo Clause (All Risks) – ICC (A)” which pretty well covers every risk you’re like to encounter. The alternative is to look for a plan that lists out specific risks that will be covered.

And these come in two main varieties.

ICC (B) covers a long list of named risks or perils such as fire, ship loss, unloading in the wrong place when your ship gets into trouble and the usual natural phenomenon such as earthquakes and volcanic eruptions.<img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-2.png" alt="" width="300px">You would also likely be covered for things such as water getting into your cargo or your contained being lost at sea for whatever reason.

The third, and simplest cover, - ICC(C) focuses on disasters such as explosions, fires, lost ships or jettisoned the cargo.

There will be times when different levels of cover seem appropriate and you will be able to decide what works for you on any given consignment. Importantly, a shipper and consignees need to be very aware on a case by case basis what level of cover they have brought as there are considerable differences between the policies that are on sale.

Obviously the policy will include the full terms that govern your contract but you may want to check the exact meaning of terms such as General Average - is a useful [website](http://www.duhaime.org/LegalDictionary/Category/MaritimeLawDictionary.aspx) &nbsp;full of maritime legal terms.

With the right insurance protection, not only will your cargo be well protected, your investment in your cargo, and protection will be well rewarded.

In the event that your shipment is lost, marine covers ensure that you do not lose out completely on the revenue you would have earned through the lost cargo. Moreover, you will have peace of mind, knowing that your cargo is well protected in the event of any eventuality that could occur.

So check out the insurance being offered by providers on the Cogoport’s platform and enjoy the protection of your shipment with ease.

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Marine Insurance 101: Everything You Need to Know

Rice Export from India: Insights with Expert

In order to know if GRI is a necessary evil or not, let’s first understand the true meaning of GRI.<h2>What is GRI?</h2>GRI stands for Global Reporting Initiative and it is an international organization which helps governments, businesses, and organizations communicate and understand the impact that they have on various social and political issues. These issues include climate changes, corruption, human rights and many more.GRI helps various organizations have a positive impact on the environment, society and in turn the economy of a country. For the same reason, more and more companies have started publishing an annual sustainability report.<h3><a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" width="auto" style="width: auto; height: auto;"></a></h3><h3>Why do companies and organizations find it useless?</h3>Some believe that these reports are more of a waste of time and don’t help in progress. Why? The following are a few of the reasons why organizations believe it is an impractical practice:<ul><li>These reports require extensive research which needs time as well as efforts.</li><li>GRI reports require complicated language.&nbsp;The use of complicated and the lengthy text reduces the understandability of the text.</li><li>The general audience will not waste their time into reading a report which lacks is difficult to understand. This is the reason sustainability reports sometimes fail to connect with the general audience.</li><li>Apart from GRI, there are many more standards for creating sustainability reports like International Integrated Reporting Council (IIRC) and Sustainability Accounting Standards Board (SASB). People often get confused between these standards and mess up the report.</li></ul>However, to think that these reports are unnecessary and fail to add value to the business is wrong. GRI acts as a bridge between governments and businesses and enables them to make a positive contribution to Sustainable Developmental Goals.Let’s take a look at the benefits of reporting:There are some internal benefits that the companies and organizations can experience if they indulge in the practice of creating GRI reports. They are as follows:<ul><li>The biggest advantage of the GRI report is that it allows companies and organizations to get familiar with the risks and opportunities involved in their business.</li><li>The report identifies the effect of their financial performance on their non-financial performance and vice-versa.</li><li>Businesses can easily formulate a long-term management policy and plan.</li><li>The GRI report helps the organization work efficiently and reduce costs.</li><li>Companies can perform in compliance with the various laws, quality and performance standards, norms and codes.</li><li>Creating GRI reports allows companies to recognize and stay clear from possible environmental, social or governance failures.</li><li>It also makes the comparison between internal performance and between organizations and sectors easy.</li></ul>Apart from the internal benefits, there are also certain external benefits GRI reports. They are as follows:<ul><li>GRI reports help in environmental safety and helps organizations abide by social and governmental laws.</li><li>It helps in the betterment of a company and improves their brand reputation and loyalty.</li><li>Allows stakeholders to fully understand the core values of the organization and also their tangible and intangible assets.</li><li>Helps in the sustainable development of the organization.</li></ul><h3><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" alt="" width="300px"></h3><h3>Conclusion</h3>GRI reports are available on their website and can be viewed by anyone. The spreadsheet with links to all reports is also available. It is necessary for a company to understand its economic, environmental and social impact, to be able to improve it. These reports enable transparency and foster sustainable growth for businesses. No matter how cumbersome the reports are, GRI is a necessary evil which organizations need to embrace.

Global Reporting Initiative - Is It Necessary?

What is a brand? The <a href="https://www.oxfordlearnersdictionaries.com/definition/english/brand_1">dictionary defines</a> it as “a type of product, service, etc. made or offered by a particular company under a particular name”. But there’s more to it. When a customer recognises your product/company easily, trusts it and is loyal to it, that’s what a brand is. In an overcrowded market, a brand is the best way to stand out.You don’t need to be a huge conglomerate to be a trusted brand. Many small and medium-sized businesses have managed to become household names, not just in their home markets but globally. This is true for exporters as well. Many exporters are now serious not only about expanding further into markets abroad but also about building an international brand identity.This blog takes a deep dive into the importance of building an international brand to grow your export business overseas. Read on to learn about:<ul><li>Brand awareness and what it means</li><li>How to build an international brand</li><li>How to increase brand awareness among foreign buyers</li><li>Social media strategies to build brand awareness&nbsp;</li></ul>‍<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 2.png" width="auto" style="width: auto; height: auto;"></a><h2>Branding benefits for your export business</h2>Why should I take the trouble to build an international brand? There are many reasons:&nbsp;&nbsp;<ul><li>Customers recognise your product more easily&nbsp;</li><li>They associate it with good quality and customer service</li><li>They are willing to pay more for it</li><li>Branding gives your company greater credibility</li><li>It drives new business – customers are more likely to trust a branded name&nbsp;&nbsp;</li><li>It attracts talent, boosts your company’s confidence</li><li>It increases brand awareness&nbsp;&nbsp;&nbsp;</li></ul><h2>What is brand awareness?&nbsp;</h2>Recognising a brand from visual indicators (logos, colours) is called brand recognition. Now take that a step further. When the customer not only recognises your brand but knows what kind of product you sell, at what price, your principles and values, and what kind of buying experience you offer, that is called brand awareness.To understand how brand awareness works, let’s take a look at some of the world’s top brands and their level of brand awareness:&nbsp;<ul><li>Coca-Cola: When you want a fizzy drink, do you automatically ask for a Coke? With Coke now synonymous with cola, it’s no wonder Coca-Cola is the most recognised beverage in the world with a brand value of $64.4 billion in 2020.</li><li>Apple: The half-bitten apple on your Macbook or iPhone is easily one of the most recognisable logos. Thanks to the brand awareness it has created, Apple can afford to price its products way ahead of its competitors.</li><li>Amazon: When you shop online, you probably go to Amazon – the world’s largest online retailer.&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Nike: This sportswear brand not only has one of the most easily recognised logos (the swoosh) but also an iconic motto (Just Do It).&nbsp;&nbsp;&nbsp;</li><li>Netflix: <a href="https://www.britannica.com/topic/Netflix-Inc">Set up in 1997</a>, Netflix has become a household name in the streaming and content business.&nbsp;&nbsp;</li><li>Marlboro: When it comes to cigarette ads, most of us remember the Marlboro Man series. Though the commercials are now outdated, Marlboro remains the top tobacco brand with a brand value of $26.8 billion.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Amul: Not as famous as its global competitor Nestle, but Amul is India’s top dairy brand and among the<a href="https://www.financialexpress.com/industry/amul-becomes-first-indian-dairy-company-to-be-in-rabobanks-global-top-20-list-nestle-leads/2069079/"> top 20 dairy companies</a> in the world. The<a href="https://amul.com/m/amul-topical-story"> Amul Girl</a>, who has featured in its ad campaigns for more than 50 years, is an advertising icon.</li></ul>‍<figure class="w-richtext-figure-type-image w-richtext-align-center" data-rt-type="image" data-rt-align="center"><div><img src="https://uploads-ssl.webflow.com/5e57ba59552cf400c593fd16/609972170f5957bc1f3c2dae_How%20to%20build%20an%20international%20brand.png" loading="lazy" width="auto" height="auto" alt="How To Build An International Brand for your exports business"></div></figure><h2>How to build an international brand</h2>So, how do you build an international brand? In the export business, this is a tough task. You might be a well-known brand at home. But, when you set foot on foreign territory, you are suddenly an unknown entity. The challenges of building a brand in a new export market can be daunting:<ul><li>You need to build trust among customers from scratch</li><li>Few customers will actively search for your brand. You have to reach out to them first</li><li>Website traffic in export markets tends to be low</li><li>Most importantly, there is no shortcut to building a brand in a foreign market&nbsp;&nbsp;&nbsp;</li></ul>That’s not to say it can’t be done. Here’s what it takes to build an international brand for your export business:&nbsp;1. Find a market: Step 1 is to find a market for your product. It doesn’t have to be the largest. What’s more important is that the demand for your product in that market is consistent and that this demand is not easily met by a rival. When considering a potential market, ask yourself:<ul><li>Is the demand consistent or growing?</li><li>Will I make a profit with the price I get?</li><li>Who are my key competitors? How do I stand out from them?&nbsp;</li><li>Will I face trade barriers exporting to that country?</li><li>Does this country have a climate conducive to business?</li></ul>For more details on finding foreign buyers for your product, read our blog<a href="https://www.cogoport.com/blogs/the-great-export-challenge-how-to-find-buyers-for-your-products"> here</a>&nbsp;‍<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 1.png" width="auto" style="width: auto; height: auto;"></a>2. Deliver the goods: Can you consistently supply goods to that market within its laws and rules? Do your products meet local standards on safety, health, environment and so on? Only enter a market you know you can deliver to.&nbsp;3. Adapt: This might include changing your product name, logo and/or colours to adapt to cultural differences or to avoid causing offence even by accident. <a href="https://observers.france24.com/en/20100426-french-cheese-means-rotten-farsi-kiri-genitalia">French cheese brand Kiri</a> underwent a name change in Iran and became Kibi because the original name in Farsi meant rotten. As you can see, understanding cultural differences is key. Use local resources and hire specialists who will ensure you aren’t lost in translation.4. Be consistent: While you might need to embrace change in certain areas, make sure your core identity and principles remain consistent so that your customers know exactly what to expect when they buy a product from you, no matter where you are located.5. Pay attention to packaging: No matter how good your product, it might be defeated by faulty packaging. Find out if your target country has packaging requirements. For example, do they demand additional nutritional information on food packaging? Or, does the information have to be in the local language?&nbsp;6. Protect yourself: File the necessary trademark and patent protections to preserve&nbsp; your international property overseas.<h2>3 easy ways to create brand awareness</h2>So you’ve established an international brand. What’s next? You need to build brand awareness. To do this, you need to communicate with potential buyers, let them know you exist and that they need to buy your products. There are many ways to communicate with customers. But for a first-time exporter or a small business testing a foreign market, your budget will probably drive your choices. Here are three affordable options for you:&nbsp;&nbsp;&nbsp;‍<a href="[Tuesday 11:10 am] Raghav Sand https://app.cogoport.com/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" width="auto" style="width: auto; height: auto;"></a><ol><li>Localise your website: Your website is the face of your brand in a foreign market. And studies say customers are more likely to buy on a website in their native language. Website localisation doesn’t end with translation. Other localisation tactics include offering your target audience the option to buy in their own currency, or changing your website’s colour scheme for cultural reasons. For example, if you export bridal wear, remember that western countries associate the event with white while in China, the colour is red. Some popular website localisation tools include SDL Trados Studio, a computer-assisted translation (CAT) tool; <a href="https://www.xbench.net">XBench</a>, a quality assurance tool that verifies your website’s translation; and <a href="https://www.adobe.com/in/products/photoshop.html?sdid=SGDJMMG3&amp;mv=search&amp;ef_id=Cj0KCQiAwf39BRCCARIsALXWETwYFyMiPgU-NDPuT_SwGJWnWeJEMjJgiynNmhsStb3w2V_x-2gHP0QaAlNlEALw_wcB:G:s&amp;s_kwcid=AL!3085!3!444587836691!e!!g!!adobe%20photoshop!221441588!17534749028&amp;gclid=Cj0KCQiAwf39BRCCARIsALXWETwYFyMiPgU-NDPuT_SwGJWnWeJEMjJgiynNmhsStb3w2V_x-2gHP0QaAlNlEALw_wcB">Adobe Photoshop</a>, a desktop publishing (DTP) tool that helps you with your page layout.</li><li>Form local partnerships: Partnering with a trusted local business is a great way to build goodwill among the community and increase your brand awareness. You can co-sponsor local events (festivals, contests, etc), even donate to local charities. Customers tend to view businesses that give back more favourably than those that just sell. Thankfully, it’s not that difficult looking for a local business partner even if your exposure to your new market is limited. Trade directories like <a href="https://www.globaltrade.net">GlobalTrade.net</a> hosts listings of hundreds of businesses and companies in specific regions. You can also tap government institutions (embassies, export promotion councils) that help exporters network with businesses abroad. Additionally, there are government portals (<a href="https://fieo.globallinker.com/login">FIEO GobalLinker</a>, <a href="https://www.trade.gov/services-current-exporters">International Trade Administration</a>) that provide a platform for exporters to connect with entrepreneurs overseas. You can read our blog on digital tools to help run your import/export business <a href="https://www.cogoport.com/blogs/35-digital-resources-you-need-to-run-an-export-import-business">here</a>&nbsp;</li><li>Be social: Work the social media. This goes without saying. More than 3.8 billion of the world’s population uses Facebook, Twitter, Instagram, YouTube, LinkedIn or some other social network. Pick the platform best suited for your market rather than randomly using them all. Each of them works in a particular way:</li></ol><ul><li>Facebook: You can join one of many groups/communities relevant to your brand. This will not only give you an opportunity to spread the word about your business but help you gain valuable information on how things work in your new market and even generate leads that result in sales.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Twitter: With <a href="https://www.statista.com/statistics/970920/monetizable-daily-active-twitter-users-worldwide/">187 million daily active users</a>, Twitter is an obvious choice to market your brand. You can use its search engine to look for potential buyers (if you export liquor, look for users who tweeted about wine). By liking/retweeting their tweets and messaging them directly, you’ll build your own following.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Instagram: A picture is worth a thousand words, they say. Instagram – with over a <a href="https://www.statista.com/studies-and-reports/">billion monthly users</a> – is the answer if you export visually appealing products such as jewellery, furniture or clothing.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>YouTube: You can create your own videos or advertise. What’s great about YouTube ads is that they reach a very targeted audience – customers looking for a specific product in a specific location. Also, having your ads appear on a particular channel means access to the channel’s fan base.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>LinkedIn: You can join Campaign Manager, LinkedIn’s advertising platform, which guides you on setting up your ad campaign and even has a brand awareness feature.</li></ul><h2>Build an effective social media strategy</h2>Social media is key to brand awareness. Consider this: social marketers say increasing brand awareness is their biggest goal, ahead of generating sales and everything else. Here are some ways you can use social media to build a buzz around your brand:&nbsp;&nbsp;<ul><li>Post regularly. Your content must be engaging and visually appealing for you to get noticed, liked and shared. Instead of dishing out boring information, ask questions and start a conversation. Be quick to respond. Don’t use the same content across platforms. Different networks call for different tones. LinkedIn is serious but Twitter and Facebook allow you to be more casual.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Use hashtags. Hashtags are easy and a great way to make your posts searchable.</li><li>Tag others. It’s a simple yet brilliant strategy to get others talking about you.&nbsp;&nbsp;&nbsp;</li><li>Use paid ads. Facebook and Twitter ads help you get noticed and aren’t expensive.</li><li>Work with influencers. Get your brand displayed and discussed by influencers. For most exporters, celebrities might not be in their budget, but that’s okay. There are hundreds of influencers who are regular people with large, established followings who can be just as effective.</li><li>Don’t just be about the sales. Bombarding your audience with content focused solely on driving sales will turn them off. Engage them with stories, photos, videos and&nbsp; infographics.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Go viral. It’s easier said than done. But if you manage to create unique content that quickly catches on, your brand will be all over social media.</li><li>Watch out for bans. There might be restrictions on certain platforms in certain countries. China, for example, has banned Facebook, Twitter, Instagram and YouTube. But it has Weibo, a microblogging service that is extremely popular.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li></ul>And that’s how easy it is to create an effective brand awareness strategy. With a little time and effort, you could turn your export business into the next big brand on the global stage.

International Brand Building For Export Business

If you are in the import-export business, chances are you have heard of Incoterms rules. The International Chamber of Commerce (ICC) defines Incoterms rules as “the world’s essential terms of trade for the sale of goods”, which “provide specific guidance to individuals participating in the import and export of global trade on a daily basis”. Since their introduction in 1936, the Incoterms rules are updated every 10 years. The latest update was carried out in September 2019, following which the ICC released Incoterms 2020. These came into effect on January 1, 2020.<a href="https://api.whatsapp.com/message/N4CI7UNDFE2ZM1?autoload=1&amp;app_absent=0&amp;utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog Banner WA 3.png" width="auto" style="width: auto; height: auto;"></a>This blog throws a light on what Incoterms 2020 means for importers, exporters and international trade. It will cover the following subjects:<ul><li>What are Incoterms</li><li>A short history of Incoterms</li><li>Why Incoterms are important to international trade</li><li>The 11 Incoterms currently in use&nbsp;</li><li>Incoterms 2020: The key changes</li><li>Things to remember when using Incoterms in your business&nbsp;</li></ul><h3>What are Incoterms?</h3>Incoterm is an acronym for International Commercial Terms. The Incoterms rules are a globally recognised set of standards for the delivery of goods by all modes of transport (road, rail, air and sea). They are the terms buyers and sellers involved in international and domestic trade agree on. They are recognised by governments and legal authorities across the world.&nbsp;&nbsp;&nbsp;&nbsp;The Incoterms rules are the creation of experts brought together by the ICC. The ICC describes itself as “an institutional representative of more than 45 million companies in over 100 countries with a mission to make business work for everyone, every day, everywhere”. The Incoterms rules are a trademark of the ICC and are registered in multiple countries, including the United States, the United Kingdom, Australia, China and India.<h3>History of Incoterms</h3>The ICC was created in 1919, the year after the end of World War I. Its purpose was to create what global trade sorely lacked at the time: a system of rules to govern trade. The process started with an exercise in understanding the trade terms used by merchants then. The first findings, published in 1923, covered just six terms from 13 countries and reported discrepancies in interpretations. After more studies, the ICC published the first Incoterms rules in 1936, again with just six terms. These rules were not revised till 1953, primarily because of World War II. When the revised list was published, it had three additional terms. More revisions followed and that is how Incoterms 2020 came to be.<a href="https://cogoport.com/signup/en-IN/?utm_source=web&amp;utm_medium=blog&amp;utm_campaign=general" target="_blank"><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-3.png" width="auto" style="width: auto; height: auto;"></a><h3>Importance of Incoterms in International Trade</h3>It is important for importers and exporters to familiarise themselves with the Incoterms rules, especially those associated with their business. This is because:<ul><li>Incoterms rules are universal and hence provide clarity and predictability to businesses</li><li>They state precisely and clearly what responsibilities, costs and risks lie with the seller and the buyer&nbsp;</li><li>They guide sellers and buyers on how to initiate and complete a range of transactions including packaging and labelling a shipment for freight transport, filing a purchase order, and preparing a certificate of origin</li></ul><h3>11 Incoterms Currently in Use</h3>The Incoterms rules provide globally accepted definitions and rules of interpretation for common commercial terms. These terms are better known by their three-letter acronyms. There are currently 11 Incoterms in use. Some apply to all modes of transport while some are specific to a particular mode. These are the 11 rules briefly explained:&nbsp;<ul><li>EXW (Ex-works): This means that the seller makes the goods available at a specified location, usually the seller’s factory. The buyer is responsible for onward transportation of the goods and bears the cost for the same.&nbsp;&nbsp;</li><li>DAP (Delivered At Place): The seller is responsible for delivering the goods to a designated place.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>FOB (Free on Board): The seller completes delivery when he loads the goods on a ship specified by the buyer at a named port. Hence, the seller is “free” of responsibility once the goods are “on board” the ship. Any liability for damage or loss thereafter passes to the buyer. This rule applies to goods transported by sea or inland waterway.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>FCA (Free Carrier): The seller delivers the goods to a carrier or an agent nominated by the buyer at the seller’s premises or another specified location.</li><li>FAS (Free Alongside Ship): The seller delivers the goods alongside the ship (on a barge or quay, for example). The buyer must load the goods on the ship. This rule applies only to sea transport.&nbsp;&nbsp;&nbsp;</li><li>CFR (Cost and Freight): The seller delivers the goods on a ship at the designated port and pays for cost and freight to bring the goods to the port.&nbsp;&nbsp;&nbsp;&nbsp;</li><li>CIF (Cost, Insurance and Freight): The seller delivers the goods on the ship at the named port and pays for cost, freight and insurance to transport the goods to the port.&nbsp;</li><li>CPT (Carriage Paid To): The seller delivers the goods to a named place and pays for carriage to that place.&nbsp;&nbsp;&nbsp;</li><li>CIP (Carriage and Insurance Paid To): The seller delivers the goods to a named place, pays for both carriage and insurance of the goods to that place.</li></ul><img src="https://cdn.cogoport.io/cms-prod/cogo_public/vault/original/Blog-Banner-Portal-1.png" alt="" width="300px"><ul><li>DPU (Delivered At Place Unloaded): The seller delivers the goods at a designated place and unloads them, bearing the risks and costs of both. This is the only rule that requires the seller to unload the goods to complete delivery. The buyer takes care of any import clearance charges, taxes and duties.&nbsp;&nbsp;&nbsp;</li><li>DDP (Delivered Duty Paid): The seller bears the maximum responsibility here as he arranges for carriage and delivery of goods at a named place, and pays for import clearance as well as any duties and taxes that might apply.</li></ul><h3>Incoterms 2020: The Key Changes‍</h3>These are the key updates in Incoterms 2020 that differentiate it from Incoterms 2010:&nbsp;<ol><li>DPU replaces DAT: The term DPU (Delivered at Place Unloaded) has been added to the rules, replacing DAT (Delivered at Terminal). This change was necessitated by demands for delivery not just at a terminal but at a particular site, such as a factory.</li><li>Insurance cover under CIP and CIF: Incoterms 2020 provides for different levels of insurance cover under CIP (Carriage and Insurance Paid) and CIF (Carriage Insurance and Freight). The CIP rule now demands a higher level of insurance cover that is compliant with the Institute Cargo Clauses (A) or similar clauses. Under CIF, which is used in sea trade, Institute Cargo Clauses (C) remains the default level of coverage but the parties involved can opt for a higher insurance cover.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li><li>Precise allocation of costs: Incoterms 2020 provides greater clarity on cost allocations under article A9/B9 of the rules. This was based on feedback about rising disputes due to lack of clarity – for instance, sellers complained of back charged terminal handling charges due to ships changing their pricing.</li><li>Enhanced security: Amid growing demand for greater transport security for freight, including mandatory screening of containers, Incoterms 2020 provides more detailed security obligations. These can be found under articles A4 for carriage and A7 for export/import clearance. Security-related cost allocations can be found under article A9/B9.&nbsp;</li><li>Transport arrangements: Incoterms 2010 assumed the transportation of goods between the buyer and seller is carried out by a third party. The revised rules take into consideration the fact that the buyer and seller might use their own vehicles to transport the goods. Thus, Incoterms 2020 allows for the buyer’s own means of transport under the FCA rule and the seller’s own means of transport under the DAP, DPU and DDP rules.&nbsp;</li><li>Bill of Lading: The FCA (Free Carrier) rule has been revised with a provision that allows the trading parties to agree that the buyer will instruct the ship to issue an on-board bill of lading to the seller once the goods are loaded. The seller will then share this document with the buyer. In the past, ships are known to have refused to issue a bill of lading if the goods were received not directly from the seller but from an intermediary (say, a truck).</li></ol><h3>Using Incoterms 2020 in your business</h3>While you can continue to use Incoterms 2010, the ICC recommends using the latest version of the rules. If you plan on making the switch, here’s what you must look out for:&nbsp;<ul><li>Identify the Incoterms applicable to your business and read up on them</li><li>Make sure to mention the Incoterms edition (2010, 2020) you are using in your sales contracts to avoid misunderstandings at a later date</li><li>Check the updated costs for each relevant field (security, insurance, etc) as these could impact your overall expenses</li><li>Read the rules to know exactly where the transfer of risk and loss lies</li><li>Buy a copy of the Incoterms 2020 book from the ICC. You can buy it<a href="https://2go.iccwbo.org/incoterms-2020-eng-config+book_version-Book#" rel="noopener noreferrer" target="_blank"> here</a>. Look out for fake versions, as the ICC warns</li><li>You can also check out the<a href="https://2go.iccwbo.org/incoterms-2020-app" rel="noopener noreferrer" target="_blank"> Incoterms 2020 app</a> for a greater understanding of the rules and for the latest news, events and training opportunities</li></ul>

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