WadeTradeNews

Welcome to the Wade Trade News import-export bulletin for March 2009. Maybe times are tougher for international traders right now, but there are still opportunities out there .... and we'll bring you a selection of the latest leads every month. In this bulletin we'll tell you about opportunities in Cambodia, Switzerland, Nigeria, Brazil, China .... and in olive oil!

New World Trade Deal By Year End ?
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Agreement on the Doha trade round has been stalled for years but Swiss Economy Minister Doris Leuthard recently announced that talks to agree more details would resume ahead of the G20 summit of leading nations in London in April. Trade ministers from 24 countries have pledged that they will agree a new world trade deal by the end of 2009. The announcement comes amid concerns that the global economic crisis could cause some countries to put up trade barriers to protect struggling industries - such as the 'Buy American' clause in the USA's latest economic recovery package. However, many leaders including UK Prime Minister Gordon Brown and South Africa Finance Minister Trevor Manuel have warned this will harm not help individual economies.

Cambodia Still Expects 6% Growth This Year
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Cambodia is hoping to maintain 6% economic growth during 2009, according to Cambodian Prime Minister Hun Sen. He also said the annual inflation rate is expected to drop to single digits this year. Cambodia has achieved high economic growth averaging 9.4% annually over the last five years and peaking at 13.3% in 2005. However, inflation accelerated to more than 20% in mid 2008. At the same time foreign currency reserves have doubled over the last 30 months from US$1 billion in 2006 to US$2 billion in 2008. This has helped reduce poverty from 47% in 1994 to 30% in 2007, according to the Prime Minister.

Swiss Chocolate Resists Financial Meltdown
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The Swiss chocolate industry has set a new record for the fifth year in a row .... showing that it is still a lucrative product to trade in. Sales rose equally in Switzerland and abroad in 2008, according to the manufacturer's association Chocosuisse at www.chocosuisse.ch. Swiss producers saw sales increase by 2% in 2008 to 184,969 tons, with turnover improving by 9.3% to SFr1.818 billion (US$1.56 billion). More than 60% of all the chocolate produced was exported: The biggest market was Germany, accounting for 14.8% of Swiss exports, followed by the UK (13.3%), France (9.6%) and the USA (7.4%). The record amount sold was the equivalent of 12.4 kilograms of chocolate for every Swiss resident!

Nigeria Launches 'Buy Nigerian' Campaign
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The Nigerian Government plans to introduce a 'Buy Nigerian Goods' promotional campaign, similar to that being introduced in the USA. According to the Nigerian Minister of Commerce and Industry, Mr. Udenwa, this will encourage the manufacturing sector in the country as well as save scarce foreign exchange funds. He explained: "Rather than exporting just oil and gas we must now concentrate on selling value added goods in the form of finished products to other countries. This is the only way for the economy to perform in an optimum way." Udenwa also criticised the faking of Nigerian textile and garment items and said that more action would be taken to prevent counterfeiting.

Brazil - Worst Effects Of Economic Crisis Over
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Following last month's report in which the OECD gave Brazil a clean bill of health, Brazilian Finance Minister Guido Mantega has recently announced that Brazil has now suffered the worst of the international financial crisis - and the economy should start growing again in the second half of 2009. Mantega explained: "I believe that, gradually, the country will recover its dynamism. But it will only start accelerating in the second half of the year." Many economists believe that, as elsewhere, Brazil has suffered from the sudden collapse in the international credit market, but that it is already showing signs of recovery - as the economy is registering better results now than in the fourth quarter of 2008. The government is still working towards a target of 4% GDP growth for 2009, Mantega said.

China Dropshipping Sources
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Dropshipping is a very simple import-export business model. You order direct from your supplier and they export the goods direct to the customer for you. It's a very easy way to get started in international trade. Here are a couple of Chinese dropshipping contacts you might find useful: Chinavasion is a wholesale supplier of electronics and gadgets. They sell goods like mobile phones, DVD players, MP3/MP4 players, digital cameras, camcorders, picture frames, Bluetooth accessories etc. Based in Shenzhen, China. Website: www.chinavasion.com. DHgate is a portal where you can find manufacturers and distributors who will dropship products for you direct from China. It lists products like apparel (clothing), arts, baby and kids, bags, shoes, cameras, cars, mobile phones, computing, crafts, gifts, health and beauty, home and jewellery, musical instruments, gardening, office supplies, sporting goods, toys and hobbies, video games and watches. Website: www.dhgate.com

An Easy Way To Get Started Trading Oil !
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Importing and exporting crude oil is a bit too difficult (and the market too volatile) for most traders. But olive oil is a high value and frequently traded commodity worth considering. Each year, over 1.5 million tons of olive oil are consumed, for culinary and other purposes, with a very strong market in many countries especially in Mediterranean Europe, the Middle East and USA. If you're interested in buying, selling and trading olive oil then The Olive Oil Source at www.oliveoilsource.com is an excellent, US based site with lots of information on olive oil, the market for olive oil and worldwide contacts for producers.

More Useful Links
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