International trade can bring a variety of benefits, but it also carries significant risks of its own. Therefore, if you are trying to go global, there are some risks to watch out for. Here are our top four tips that can help businesses reduce their foreign trade risks:

- Get Help from Expert Advisors
Always refer your plans to business professionals before traveling to a new country.
You should consult. It can help you negotiate deals with established stakeholders and give you an advantageous start. Legal advisers will help you better navigate specific policies, the country's trade laws and other legal matters. You will need advice on your expansion to avoid violating intellectual property laws. This is the main reason why you need experts to guide you, especially if you are doing business in a foreign country for the first time.

- Review Restrictions and Product Acceptability
All countries have their own rules and protectionist policies that you must follow. For example, Saudi Arabia bans the import of weapons, alcohol, drugs and pork. China has also recently passed a new law that restricts sensitive exports such as military, civilian and nuclear products, and all national security-related products and technologies. Product acceptability is another matter. If you are considering doing business with an EU food market, review the EU's list of approved non-EU countries that can export a particular food category.

- Beware of Currency Issues
Currency and banking problems can often have immediate catastrophic effects on business operations. In fact, in the fourth quarter of 2016, 245 of the 850 U.S. businesses surveyed said they had experienced adverse currency effects. Common problems with currencies include the non-convertibility of the currency, the risks of transfer and devaluation, nationalization, and more. Always do thorough research beforehand to avoid any problems.

- Understand Shipping Procedures and Foreign Trade Policies
Most importers and exporters use waterways to transport goods. Therefore, you need to be familiar with different shipping lines, customs clearance, transportation of goods and other logistics issues. In addition, problems such as damaged or lost items, contamination, theft and accident can occur during international shipping. As a result, insuring your goods is a must. Ask your insurer about the different options available and try to get an agreement that covers as much of the insurable aspects of your business as possible.

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Eximfix recognizes the importance of international trade and has made many efforts to create a safe space for businesses to complete their global business transactions. Be sure to check out our site for more information!