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Your company might be modest in size, but creativity and an entrepreneurial spark more than make up for heft. You have something to offer that your larger competitors don’t. In time, and with the right connections, you’re going places.
And maybe one of the places you should be going is Southeast Europe, say Silvia Savich, Director for Central and Southeast Europe, and Daniel Gaines, Senior International Trade Specialist, of the US International Trade Administration (ITA).
“A lot of US companies are already doing business in parts of Western Europe,” says Gaines. “Southeast Europe is a great spot to be because there are so many opportunities, and competition isn't that fierce.”
That’s one of the many reasons the ITA chose Southeast Europe for its 2017 annual Trade Winds trade mission.
The ITA, an agency within US Department of Commerce, has 100 offices throughout the US, and more than 75 internationally, and is perhaps the most powerful ally an American SME can have as it ventures into the international arena. Its services are extensive and many are free for the asking. At its website, export.gov, for example, you can determine the sales potential of your offerings in new markets, find out which trade agreements apply in which countries, get an overall export education, and a personalized company diagnostic.
Trade Winds, the ITA’s largest annual trade mission, has been particularly fruitful for past participants. Thanks in large part to attendance at previous Trade Winds events, US businesses have racked up $240 million in export sales.
And that’s because of the planning that goes into the event, Gaines explains. “Before you get accepted to the mission, we do a pretty deep dive with each individual company, and we determine what market is going to be best for you,” he says. Once participants are set, embassy officials in the countries visited begin their research. “They look at each participant’s offerings, their products, their services and then find pre-qualified partners they may be able to do business with.” Meetings might include distributors, agents, government officials, and others.
This year’s Trade Winds mission begins on October 15, 2017, with a first stop in either Serbia or Bulgaria. From October 18 to the 20th, all participants converge at the main Trade Winds Business Forum in Bucharest, Romania for the business development conference. “We fly in our commercial diplomats from countries in the region to have market intelligence briefings with companies.” Business-to-business meetings with potential partners are also part of the conference schedule. From October 21 to the 23rd, companies depart for additional meetings in either Greece or Croatia, flying back to the States on the 24th.
What kinds of businesses will benefit most? Silvia Savich says that there are significant untapped opportunities in technology in this part of the world. “These governments are still in the process of setting up their cyber security networks.” The region also has unmet needs in airport security and border security.
Beyond the urban areas, upgrading and development of roads and buildings also present opportunities for American businesses. “Romania has some European Union funds available to build up their infrastructure,” says Savich. Some of the other sectors she’s identified as particularly strong are wastewater management, along with other environmental technologies such as renewable energy.
Agriculture, too, offers potential. “In Southeast Europe, there are many small family-owned farms,” says Savich. “And they need help to bring them to the next level. US companies may be able to provide machinery or equipment to help them improve output.”
Additional sectors where US companies may be able to make inroads in the region are detailed at the Trade Winds website at http://2016.export.gov/TradeWinds/index.asp.
“There are one-pagers on each of the markets,” says Gaines. “You can see: is my sector in any of these markets? And if it is, I suggest you register your interest. Because it's a non-commitment—completely free—but it gets you an assessment to see if your company's offerings will be attractive in that market.”
Trade Winds, while the ITA’s largest trade mission, is just one of the events scheduled for 2017. To see the entire schedule, visit https://www.export.gov/Events
| Product Model | Inside Diameter | Outside Diameter | Thickness |
| 594A/592XE bearing | 95.25 | 147.638 | 35.72 |
| 42375/42584 bearing | 95.25 | 148.43 | 28.575 |