Import Trade Notes Form 6 – Commerce Study Guide
What is it?
Is the purchase of goods or services from other countries.
TYPES OF IMPORT
Import trade may be classified into two parts of:
- Direct import trade.
- Indirect import trade.
Direct import trade.
Is the kind of import on which a person in his own name import goods or services without making use of middlemen. Normally such kind of import will be done for a person own consumption rather than selling
Indirect import trade.
Is a kind of import on which a person purchase goods or services through the use of middlemen, professional importers, import merchants and the like. Normally such kind of import will involve bulk purchase and will be done for the sake of selling in home market.
TYPES OF THE INFORMATION NEEDED BEFORE IMPORTATION
- To know the procedures and formalities of importing in various countries.
- To know the culture of people around the world before supplying goods.
- To know the international exchange rates to achieve profitable transactions.
- To know the changes brought about weather conditions in various parts of your source of supply/ import.
- To know the technological changes with regards to the goods you are dealing with.
- To know the total cost of goods to be imported up to your premises .
SOURCES OF INFORMATION FOR IMPORTER
The following are some of the institutions or organizations which will help importer to get information about import trade
- Tanzania Chamber of commerce, industry and agriculture (TCCIA).
- Foreign firms representatives in the country.
- Board of external trade BET.
- The consular services.
- International trade fairs.
- Newspapers, journals, publications (through advertisement)
- Visiting various websites.
- Direct contact with the foreign exporters through several means of communication.
1.Tanzania Chamber of commerce, industry and agriculture (TCCIA):Is an organization which was established in 1988 with the support of the government of Tanzania to strengthen the private business sector throughout Tanzania.TCCIA has members and branches almost in all regions which are autonomous in their operational activities
Services provided by TCCIA
- Offers expertise in many areas of interest to local businesses through seminars, workshops and training, example seminars as topics of burning issues.
- Advice: Businesses get advice face to face or forward questions via e-mail.
- Providing business supportive initiatives which includes business license.
- Business promoting activities like National and International trade affairs, International delegations these in turn give members the possibility to increase trade opportunities.
- TCCIA receivers a great number of business inquiries from all over the world.
- Publications: Business information about companies typing to find customers or suppliers are published and distributed to all member.
- To settle disputes among members.
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