ITA Helps Business Look South with Market Research
February 20, 2014Laura Ebert is the Chile Desk Officer in the International Trade Administration’s Office of South America.
Before entering a new market, your business needs to be prepared. There are a number of market specific data you should understand to get an idea of your product’s potential success, including:
- market size;
- sophistication;
- growth trends;
- distribution channels; and,
- regulatory considerations.
The problem is that market research can be time consuming and data on foreign markets can be confusing or difficult to find.
That’s where the International Trade Administration’s U.S. and Foreign Commercial Service comes in!
Our Commercial Service offers a number of resources to assist you and your business with conducting market research and due diligence in your target foreign market.
Our Market Research Library contains more than 100,000 industry and country-specific market reports, written by our specialists working on the ground in each market.
Here you will also find the Country Commercial Guides, in-depth “how to do business” guides that provide a comprehensive look at the commercial environment in more than 80 overseas markets. The guides also highlight the top “best prospect” markets in each country for U.S. exporters.
As we focus on helping U.S. companies do business with our 11 free trade agreement partners in Latin America through the Look South initiative, we’ve now taken our Country Commercial Guides and made them easier to use than ever.
Want to know which Look South countries are top prospects for your product? Find out at a glance by visiting the Look South Best Prospect Sectors page and clicking on your industry. You’ll be able to see the list of most promising markets and download market snapshots for each country.
Already planning to target a specific country? Visit our Look South Countries page and choose your country from the list at the bottom of the page. Look for your industry among the best prospect sectors and download the market snapshot in just one click!
If you don’t see your industry or target market listed, don’t panic! There is very likely an opportunity for your product in more than one Look South country. Just contact your local Export Assistance Center for further information.
Other free resources include access to U.S. trade data and a series of events, webinars, and teleconferences that give you a chance to learn about new markets first hand or with on-the-ground experts. Check out the upcoming trade events and educational opportunities for Look South here.
In addition to these free public resources, your company can request more in-depth, tailored market research (for a fee) to answer your particular questions regarding the market for your product and services. We can also provide due diligence reports on potential overseas business partners (also for a fee) to investigate the capabilities, legitimacy, and financial strength of a potential overseas business partner.
Contact your local commercial service office to find out more about these services.
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