The International Trade Council provides support for entrepreneurs in international trade by taking them to key overseas markets and showcasing their capabilities to potential buyers, investors and trading partners.
In its ongoing commitment to promote bi-lateral trade relationships, the International Trade Council has introduced its Trade Mission program to assist companies find overseas partners, license technology and to grow internationally. Each trip is tailored around specific business opportunities relevant to Council members and delegates are invited to join based on the nature of their business and strategic growth objectives. The Council’s Trade Mission program is designed to match these objectives with business opportunities existing in the targeted market via the introduction to key industry decision-makers and well-placed government officials.
Structure of a Trade Mission
A trade mission typically involves:
- Market analysis to identify the most advantageous trading opportunities.
- Pre-mission identification of potential foreign partners.
- A pre-mission briefing.
- Arrangement of 1:1 business/prospect meetings by the Council for attendees.
- Welcome briefing held upon arrival in the destination country.
- In-country seminars on export/import procedures, partnership options, market opportunities, methods of payments, distribution practices and latest trends.
- A meet and greet between mission attendees and foreign prospects (group presentations / 30 minute presentations by each attendee to a larger audience).
- Pre-arranged 1:1 meetings with attendees and their pre-arranged prospects.
- City tour(s).
- Business site tour(s) – (where applicable).
- End of mission group re-cap.
- Follow-up with prospects.
Benefits of Participating in Trade Missions
- Most trade missions will include meetings with senior level government officials in industry relevant ministries.
- Ability to meet other firms interested in the same market.
- Synergies are often created between trade mission participants through their sharing of market information and valuable networking.
- Opportunity to participate in pre-arranged group meetings, site visits and in-country briefings
- Networking events to engage with local business people and clients.
- One-on-one appointments: Appointments are scheduled by ITC trade specialists for mission delegates to meet with potential overseas buyers.
- Media coverage of the mission.
- Logistical assistance from ITC’s mission manager and support/advice on markets.
- Inclusion in mission email marketing, presentations and brochure(s) (circulated in advance of mission).
- Assistance with travel arrangements through appointed travel agent.
- Shared logistical costs (for example, brochures, transport, etc).
- A chance to network and exchange information with other missioners.
- Fully supported by in-country offices and partner organizations.
Typical Costs Associated with a Trade Mission
The Council typically charges a flat (early-bird) fee of $1250 USD per person to those attending a trade mission who are not our members and a discounted fee of $900 USD to Council members. Standard fees are $1950 for late registrations.
These rates are heavily subsidized and includes facilitation, being accompanied on the event by a Council host, arranging meetings for delegates, pre-event marketing, media coverage and press releases (where applicable), conference room facilities, airport transfers within destination country, arranging hotel bookings, and other expenses associated with organizing the Mission.
Attendees are responsible for their own costs associated with the airfare, accommodation, in-country transport, visas, travel insurance and meals.
A reasonable budget for a single person attending an overseas trade mission is as follows:
- Long-haul trip (6 or more hours away from origin country or to a different continent) – $2500 to $4000 USD for 4 days.
- Short-haul trip (less than 6 hours away from origin country or within the same continent) – $1500 to $2500 for 4 days.
* The Council is generally able to arrange special discounted rates for hotel accommodation and other in-country expenses. Actual costs will depend primarily on destination, airfare availability and deadlines for bookings etc. Hotel standard is usually 4 star or higher.