Business Insights, Video Documentation, Domestic or International Potentials

1. Business Insights

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💵 The global anti-money laundering law is based on two principles: any increase in the bank account balance must have its tax paid.

🏦 Also, the settlement of foreign trade transactions must be carried out through banks, and foreign trade settlements through money exchangers are considered money laundering.

➕ The penalty for money laundering is six times the laundered amount.

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📄 "Release" in commerce refers to the process of transferring ownership of goods from the seller to the buyer.

🧾 Simply put, "release" in commerce means that after signing the contract, the seller presents the original bill of lading and certified copies of the necessary documents to the transportation company and requests a release.

🚗 The transportation company, through its agent at the destination, transfers ownership of the goods from the seller to the buyer.

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💶 A discount in commercial transactions refers to a reduction in the amount payable for the exchange of export or import products.

👐 This means that based on the agreement between the buyer and the seller, the goods are traded at a price lower than their original amount.

⌛ Given that Zimbabwe is a landlocked country and heavily dependent on imports, goods enter the country through three routes:

1. Durban Port in South Africa
2. Beira Port in Mozambique
3. Walvis Bay Port in Namibia

📋 Among these three routes, the Durban Port route is the fastest and most cost-effective for general goods, while Beira Port is mostly used for bulk imports.

📜 Certain conditions will be checked when registering an export declaration in the customs system, and if these conditions are not met, traders will not be allowed to export.

💷 The first condition is that the amount of foreign exchange obligation fulfillment should be more than 60%.

📦 Also, if the difference between the outstanding obligations and the current export credit ceiling exceeds the declared value of the current shipment, it will prevent the registration of the export declaration in customs.

🚤 Saudi Arabia has inaugurated a shipping line connecting it to four cities in China and one city in Egypt.

⛴ The connection of Saudi Arabia to China was established by adding the Cargo Shipping Service (CBS) at Jeddah Port through the NewLine shipping line.

🛳 This service operates weekly, connecting Damietta Port (Egypt) and Jeddah (Saudi Arabia) to Tianjin, Qingdao, Shanghai, and Guangzhou (China), with a capacity of up to 4,000 standard containers.

✔️ Starting from 2024, this will be the fourteenth service offered from ports in Saudi Arabia.

💳 Commercial cards are suspended for non-fulfillment of foreign exchange obligations.

✈️ The Iranian Export Confederation announced that, according to the new decision of the Trade Promotion Organization, the suspension of commercial cards due to non-fulfillment of at least 60% of foreign exchange obligations has been halted.

⬅️ Additionally, the exporter will not only be allowed to operate in the export of goods but can also act to fulfill foreign exchange obligations through imports.

⛵ The Czech Republic, being a landlocked country, does not have access to open seas and uses river ports for importing and exporting goods.

🌊 Prague Port on the Vltava River is exclusively for sending products like steel, iron, and grains.

⚓ Usti Port on the Elbe River is used for sending other products.

✅ The best port for sending shipments to Ethiopia is Djibouti Port, and goods are sent to Ethiopia via rail from Djibouti.

📈 You should also ask the buyer whether document exchange is required for the shipment. If document exchange and cross-stuffing are necessary, shipping costs will increase.

📉 The most common method is transshipment, which generally has lower costs.

🧶 Hollow fibers are considered low-end products of petrochemical production.

🌐 Hollow fibers are produced using a technically complex and specialized method in a synthetic form.

🧵 Hollow fibers are available in different qualities: if used in furniture making, they are of lower quality, and if used in carpet and rug industries, higher quality fibers are utilized.

🧲 The high-demand markets are Russia, Austria, Germany, Spain, Italy, China, Turkey, France, and South Korea.

🇸🇰 Slovakia, despite being a landlocked country, leverages its strategic location along the Danube River, utilizing several key ports like Bratislava Port, Komárno Port, and Štúrovo Port.

💼 These ports facilitate the transport of goods and passengers, enabling Slovakia to engage in trade activities with neighboring countries and beyond.

🌀 Additionally, over 60 other ports along the Danube River contribute to Slovakia's maritime trade and ensure its connection to the global economy.

🍩 Iran has fierce competition with European countries in the export of sweets and chocolates.

🍬 Iran’s export capacity for sweets and chocolates in regional countries, including Iraq, Afghanistan, and the Persian Gulf countries, is announced to be 1.5 billion dollars annually.