The Moscow Chamber of Commerce continues its series of events, dedicated to entering the US market. On September 23, another online conference was held on selling goods on the US B2B market.
Mr. Rustam Mavlanov, the CEO of “ Synergy Global Trade”, New York, USA, Deputy Chairman of the Chamber of Commerce and Industry’s Commission on foreign economic cooperation with partners in the United States, opened the event and introduced the participants of the online meeting with his take on the existing situation: "Today our task is to communicate with colleagues, who have decided that the US market is of interest for them and have already taken specific steps to pursue the above interest.
We have the opportunity to interact with them, listen to their recommendations, learn about their experiences and from some of their mistakes. This is always closely paid attention to by our audiences, since it is obviously important to learn from others' experience”. This segment was followed by a breakdown of practical cases of commodity producers, trading in the US B2B market.
Attendees had the opportunity to ask questions of visiting entrepreneurs about the experience of doing business in the United States and, based on their answers, draw conclusions about what steps to take when planning to enter the US market.
The Regulatory Compliance and B2B professional, Mr. Rodion Tuvaev, of the ”RODUP.US”, Los Angeles, USA. CEO and Founder, gave beginners step-by-step advice: "When the market is understood, one can see how the price changes from the path of the factory to the local dealer; when the required number of certificates needed for the right market segment is cleared; what is needed is to do a detailed calculation of shipping and customs’ clearance to reveal the unit price for wholesale shipments.
The participants of the meeting noted that all forecasts, based on a comparison of the Russian and American markets, are mutually compliant in an era of commodity price stability. At the moment, we are witnessing unprecedented surges in raw material prices of up to 120% within 2-3 months. The main thing in this situation, is a strategic decision. A momentary comparison should not be the basis for a decision. Entering a new market always involves a long and expensive process. In addition to raw materials, it is also necessary to take into account logistics, which are extremely unstable at the moment.
Also, advice was extended to a manufacturer, who decides to sell his product/s in the United States: first of all, assess the market’s volume and the need for a product, compare it with the Russian one and, if there is a significant difference, act, If production allows. In addition, experts noted the need for the in-depth market research, which is difficult to carry out from a Moscow’s office.
The September series of seminars is over, but meetings with experts will continue in the near future.
The event was supported by the Moscow City Government and the Department of Economic Policy and Development of the city of Moscow.