If you are planning your first import from China to Paraguay, it is normal to be overwhelmed by doubts and need help to make sure everything goes smoothly.
For this reason, we have put together 5 essential keys for you to have a first approach to the world of foreign trade and to know how to take the first steps with MingTa.
The decision to become an importer means for your company an important leap in its growth due to the numerous advantages offered by the powerful Chinese market; but also due to the favorable conditions offered by a country like Paraguay. So, you are in for a great experience!
1. Research the market
It is essential that your first step is to conduct market research. All the information you gather will then help you chart the path that will lead you to achieve the expected sales and stay one step ahead of your competition. And that’s not all!
- It will allow you to know what the consumers’ purchase intentions are and, at the same time, you will know how the market is growing.
- You will obtain data on the selling prices of your product and you will be able to determine the appropriate value that is beneficial for both your business and your customers.
- If your intention is to specialize in the import of a specific product, it is essential that you research the current demand in the country. This way, you will know if you will recover your investment with its performance.
- You will know the prices, variety and quality of the products imported by the competition, as well as the offer of similar products manufactured in Paraguay.
In the end, all this research will provide you with invaluable, real and accurate information that will help you solve future problems or, better yet, prevent them. This way, you will make better decisions!
2. Know the requirements to import in Paraguay
Before you start importing into Paraguay, it is essential that you are aware of all the legal requirements involved in buying your products in China.
Beyond the general requirements for imports, there are certain types of goods that require special permits or additional fees to be paid. For this reason, you should find out what is the case of your product, especially if they require certain storage and handling conditions that imply an increase in your costs. For example, perishable foodstuffs, chemicals, pharmaceuticals, petroleum products, among others.
In addition, to avoid customs holds, make sure you have in order all the certifications of your cargo, the corresponding invoices that prove your ownership of the goods, the packing list, certificates of origin and all additional documents required for your import to Paraguay.
Prevent mishaps with our Certification service and contact us!
3. Choose your suppliers wisely
This is another key step to make your import a success: you must select your suppliers very well! Therefore:
- Never stick with the first supplier you meet or that other people recommend. It is important that you research the market very well to find the best possible manufacturers.
- Make sure to find reliable manufacturers that comply with production conditions and legal registrations. There are suppliers that are of dubious provenance, that do not have a formal “factory” and turn out to be scammers.
- Select the suppliers that guarantee the quantity you need, the agreed price and the agreed time.
- It is essential that you know how to negotiate with each supplier to achieve better prices and delivery times.
- Read this article! Investing time in knowledge always yields the best returns: Keys to sourcing suppliers in China
We take care of finding and verifying your suppliers, leave it in our hands!
4. Manage your international payments in a smart way.
First of all, it is important to emphasize the importance of negotiating with your suppliers beyond the prices agreed upon. This implies that you also take the time to compare them with other manufacturers and claim a special amount according to the volume of your loads.
Another key point: choose an internationally accepted means of payment, such as wire transfers and credit notes, a method that is more convenient because it guarantees compliance with the conditions imposed between both parties.
Don’t forget that you must also take freight costs into account when estimating the final price of the cargo you will import to Paraguay.
And something more important! Each payment involves a bank fee, so this will also affect the total amount. But you shouldn’t worry about that, because we also offer a payment system that will save you a lot of money.
Want to know more? Find out how to save on international payments when importing from China
The best thing to do is to consider hiring the services of an expert company in international trade to carry out these operations. It is the best way to reduce your costs, error margins and risks.
5. Import for the first time with experts and benefit from
In line with the previous paragraph, the best decision will be to import for the first time in Paraguay with the support of an expert company in international purchases, which knows the Chinese market inside out.
MingTa Group will make it possible for your import project to go ahead with solutions, advantages and benefits for your company to increase its profitability and earnings.
With MingTa:
- You will achieve better price negotiations with suppliers
- You will reduce your costs
- Minimize risks
- You will avoid withholding taxes at Customs.
Contact us now and we will advise you. We take care of preparing a personalized and tailor-made proposal to benefit you. Your first experience matters to us!
