Utilizing Advanced Trade AnalysisTools: An Effective Strategy to Boost Exports
Tashkent, Uzbekistan (UzDaily.com) --
Currently, 238.5 thousand business entities operate in Uzbekistan, whose share in the total exports of the country account up to 30%. Increase of exports, especially of SMEs, and diversification of its structure are amongst priority directions of Uzbekistan’s Development Strategy for 2017-2021.
During 10-11 July 2018, UNDP jointly with the Ministry for Foreign Trade and the SME’s Export Promotion Fund conducted two-day training on how to use advanced trade analysis tools and prepare market profiles for export promotion. More than 50 representatives of export support institutions and exporting enterprises took part in the training.
Decision by an enterprise to export products to new markets requires preliminary in-depth marketing researches, assessment of regional and international demand for a product, as well as well-elaborated strategies on design, pricing and product promotion. This is not an easy task and requires certain skills and entails financial and labor costs. In this regard, it is extremely important that national export support institutions can provide relevant advisory services to SMEs on how to identify best export opportunities andcomprehensive information on market entry requirements.
The main objective of the two-day training was to build capacities of participants on using trade and market information in the development of a market profile for a particular product in a particular market. The training covered the latest practical approaches of trade and market analysis and will engage participants with establishing data driven profiles that can be used to determine export opportunities and feasibilities of exporting a selected product to a target market. The training also included practical exercises to help participants to comprehend tradeanalysis tools prepare market profiles using ‘Marketing Mix’concept.
The training programme also comprises of sessions on utilizing the analytical tools elaborated by International Trade Center (ITC) – ‘TradeMap’ and ‘Market Access Map’ – allowing to identify the target export market, the level of competition, market entry requirements, and requirements for quality and packaging products.
Trainers of the workshop are representatives of the Ministry for Foreign Trade of the Republic of Uzbekistan, the Chamber of Commerce and Industry and ‘Uztrade’ JSC, certified as trainers of the course by ITC.
It is expected that the process of knowledge transfer will continue and participants of the training will share their knowledge with SMEs and will be able to apply new skills in their business, diversify export markets and increase export.
The initiative of UNDP and the Government of Uzbekistan on the development of international trade to increase incomes and create jobs is carried out in accordance with the Strategy of Actions on development of Uzbekistan for 2017-2021, as well as with the global activities of UNDP to assist countries in achieving Sustainable Development Goals (SDGs).