What Does Foreign Trade Consultant Do?
Foreign trade consultants provide consultancy to companies for businesses to operate in the international market. Foreign trade consultants advise the companies they work with or consult on the export and import of goods or services, how to make international contacts and the laws regulating international trade.
Export-import business can open a world of opportunities for companies to be the part of international trade. Foreign trade advisors not only manage selling products & handle the documentation process. They also have the qualifications as market research, product & country analysis, competition analysis, implementing market strategies, marketing planning, and so much more.
Foreign trade advisors are foreign trade experts who can serve the private sector and public institutions. Foreign trade advisors can own a consultancy company or work for a consulting company. Some companies, on the other hand, can employ international trade experts in consultant status.
Foreign trade advisors are international trade experts who can serve the private sector and also public institutions. Foreign trade advisors can own a consultancy company or work for a consulting company. Some import-export companies employ international trade experts in consultant status. Therefore, Foreign trade advisors can work with different titles and different types of companies and serve almost all sectors.
Foreign trade advisors need to be able to handle business decisions and lead the companies on international business fields. Foreign Trade Consultants can prepare or analyse bilateral and multilateral trade agreements and the processes involved.
Foreign Trade Consultant & International Trade Specialist
Foreign trade advisors, mostly called “International Trade Specialist” or “International Business Consultant” The main role of this professional group is: manages a company’s import / export and similar international-based marketing, selling-buying operations, and cooperations.
The company may want to work with foreign trade advisors to expand abroad or increase its current international market share. Foreign trade advisor provides services to the company regarding international trade:
- Increasing revenues.
- Decreased domestic competition.
- Longer product lifespan & disposal of surplus goods.
- Easier cash-flow management.
- Better risk management.
- Access to export financing.
- Benefiting from currency exchange.
How to Become a Foreign Trade Consultant?
To become an international trade specialist, you must first have a bachelor’s degree and be fluent in at least one foreign language. Depending on the sector and product group you work in, it may be advantageous to have a different educational infrastructure. For example, it is beneficial to have a foreign trade consultancy, chemical engineering bachelor’s degree in plastic industry products.
For example, it is advantageous to have a chemical engineering bachelor’s degree if you are working as a foreign trade consultancy in the plastic industry. But under all circumstances, the candidates who will do this job should be successful in personal relationships, have effective presentation skills, and high persuasion skills.
Basically, it’s a consultancy job where knowledge and experience are marketed. Still, it is also an interactive workplace that encourages constant communication with exporters, importer companies, logistics companies, customs consultants, suppliers, and potential customers.
Working in different companies such as product development, production, planning, logistics, sales, and marketing at the beginning of your business life can give you an advantage. You will find that experience in other jobs can offer you benefits such as different perspectives, extra experience with industry or product when you later become a foreign trade advisor.
Foreign Trade Consultant: Education
Foreign trade Advisor candidates must have advanced knowledge of economics and finance, have good public speaking skills, and fluency in a foreign language.
In order to become a foreign trade consultant, it is sufficient to have education in different business and professional branches. However, it will be advantageous for candidates to have one of the following education degrees.
in furtherance of becoming a foreign trade consultant, the candidates should have degrees of interest as follows:
- a Bachelor of Business Administration,
- a Bachelor of Science in Finance,
- a Bachelor of Science in Economics,
- a Bachelor of Science in International Business,
- a Master of Science in Economics
- a Master of Business Administration
with a focus in international business.
What are the Qualifications of the Foreign Trade Consultant?
- At least a bachelor’s degree (MBA provides an advantage)
- A product or industry-related bachelor’s degree (for some companies)
- To know at least one foreign language at a fluent level.
- Knowledge of international trade, incoterms, payment methods, customs clearance, etc.,
- To follow and analyze foreign policies affecting the international market.
- To show competence in using database systems, analyze and interpret product analysis, country analysis, sectoral reports, tables, and data on international trade.
- To be able to adapt to the busy schedule.
- To have strong oral and written communication, persuasion, and presentation skills.
- To have an analytical thinking structure,
- No obstacle to travel globally,
Responsibilities of the Foreign Trade Consultant
The foreign trade advisor should always have up-to-date knowledge of the global market and specific trade areas. A company may need the most accurate information, practical advice, and service to take action regarding business opportunities or investments in another country while receiving a trade professional’s services.
In other words, a foreign trade expert can collect information and data, prepare a research report, analyze this report and provide advice to its customers. Or, on behalf of its customers, it can ensure that commercial relations are carried out with suppliers and customers in the foreign market.
Foreign Trade Consultant Duties
- Developing strategies to improve and develop international selling and purchasing processes of the company.
- Providing services for companies with export needs to find customers in the global market, establish and develop basic processes for selling products and services.
- Researching suppliers that offer products and services in the global market with the most affordable quality and prices.
- Providing consultancy on international business development and marketing issues.
- To research the foreign financial markets in which the consultancy company operates or is planning to do business.
- To research international investment opportunities, competitors, and business practices, analyze the collected data, and make recommendations to the companies that they provide consultancy.
- To communicate with foreign companies that the consulting company will export or import, to continue negotiations to start or develop trade.
- To analyze globally demanded goods and services.
- To compare the product range of the evolving company with the products of competitors and global trends.
- Providing control and consultancy services regarding the documentation processes required in the export and import phase, customs, and transportation processes.
- To advise companies on compliance with legal regulations regulating import and export.
Popular job titles related to Foreign Trade Consultant jobs:
- International Trade Consultant
- International Business Consultant
- International Trade Specialist
- Trade Administration.
- International Trade Analyst.
- Global Trade Advisor
- Trade Processing Specialist.
- Trade Compliance Specialist.
Foreign Trade Consultant Salary Range
Foreign Trade Consultant Salary Range may vary depending on the way it works. If you need to predict the annual income of Foreign Trade Consultant, below, countries’ price ranges may give you an idea.
For Foreign Trade Consultants working individually, in their own company, or as freelancers, it is more challenging to estimate income. According to the expert’s technical skill and knowledge capacity, the price he will demand may change. Prices vary significantly, depending on the job’s difficulty and duration, and factors such as outsourcing to complete the job.
The countries with the highest wage scales are the USA, Japan, the UK and some of the EU countries. In the US, annual salary range from $ 63,000 to $ 110,000. Work experience and candidate’s qualifications affect the salary level, but significant changes are observed in the wage scale between US states and It also varies between business sectors.
- Annual salary in Germany ranges between 36,000 EUR and 83,000 EUR.
- Annual salary in Japan ranges between $ 42,000 and $ 97,000.
- The UK annual salary range between GBP 26,000 and GBP 60,000.