Feb 28, 2017 - Business Success-Part-4(The Paperwork). Import Business ... Nigerian iron ore deposits qualifies for dire
3T IMPEX TRADE ACADEMY RA
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VOLUME 2 ISSUE 10
IN THIS ISSUE
of the economy. According to him the ferrous (Fe) content of the ore ranges from 35-50 per cent and could be up to 70 per cent in places.
EXPORT NEWS
FG pledges to link Cassava Farmers to Export Market
PG 1-2
EXPORT PROGRAMME
NEPC and Import-Export Help Line.
PG 3
EXPORT EDUCATION
Handling the Critical 5Ps of Export Business Success-Part-4(The Paperwork)
PG 3
EXPORT TRAINING PRODUCT
Import Business Master Series on DVD (Vol. I – III)
PG 4
EXPORT MISCELLANEOUS
Export Trade Leads, Export Commodities Prices, Export Trade Terms
PG 4
EXPORT NEWS
Nigerian iron ore deposits qualifies for direct export Direct Shipping Ore (DSO) as they meet the 62 per cent Fe content benchmark even without beneficiation. Nigeria sits on many unexplored iron ore deposits of diverse origin and quality out of which the purest and largest known reserve is in Itakpe, Kogi State. According to him, Nigeria's Iron Ore (solid Mineral) is a “quick win opportunity that exist in the mining sector. Thus, exporting ore as DSO can earn the country Foreign Exchange and a significant source of revenue that can be used to further develop the mining sector and build the required infrastructures required for economic operation of the processing plants to boost the dwindling Nigerian economy,” he added. (Excerpts from www.vanguardngr.com)
NAFDAC launches investigation to fish out those responsible for Imported Garri
F
ollowing an uproar over the emergence of packed garri believed to be imported from India into Nigeria market, Minister of Health, Professor IssacKolawole has listed steps taken by the Nigerian government to tackle the issue.
FG pledges to link Cassava Farmers to Export Market
T
he Federal Government says it will assist cassava farmers and processors to create linkage markets to guarantee export and sale of cassava chips at the international market. According to the Minister of Agriculture and Rural Development, Chief AuduOgbeh, who spoke in an Agribusiness Supplier Development Programme (ASDP) meeting organized by the United Nations Development Programme (UNDP) in Ibadan, Oyo State saidfocus would be on cassava chips production, standardisation and training to meet with market export requirement.
The health minister, in a statement released on the official site of the ministry, stated that once he saw a tweet about the imported garri, National Agency for Food and Drug Administration and Control (NAFDAC) officers launched into an action. According to NAFDAC, 26 packs of the Garri has been seized and the owner of the store invited for interrogation (Excerpt from www.naij.com)
He added that In view of the potential that abound for export trade in cassava chips, government would continue to provide improved yielding cassava stems, disease resistant varieties, access to finance and markets to improve the country's current market share. He therefore appealed to cassava farmers to improve cassava chips production and supply chain system to meet demands from other countries. (Excerpt from www.sunnewsonline.com)
Expert Decries Unexplored 230 Million Tonnesof Iron Ore
F
ollowing the upward trend in global price of mineral commodities for the past two years as oil prices went down, a mining expert and Director of Exploration at Orbitwaves Geosciences Ltd, Jerry Solomon, has decried the unexplored 230 million tonnes of iron ore deposit in Nigeria. Solomon made the assertion while appraising activities in the country's solid minerals sector, which largely has not been harnessed to begin the diversification
Wamakko urges FG to invest more in Agric., Solid minerals to Exit Recession
S
en. AliyuWamakkohas called on the Federal Government to increase investments in agriculture, solid minerals, tourism and infrastructure to pull the nation out of economic recession.
According to the former Governor of Sokoto State, if we want to truly diversify our economy and move out of the current recession our topmost priority sector should be agriculture; as well as investments in the other three fundamental areas. With agriculture we can create more jobs, fight crimes and curb the perennial menace of rural-urban drift. He added that there are abundant solid minerals across Nigeria which are yet to be fully explored and exploited. To this end, the nation's food security would be sustainably guaranteed, for Nigeria to become a major exporter of food and not a net importer.” (Excerpt from www.herald.ng)
EXPORT
EXPORT
NEWS
NEWS
Exports Blossom at Free Trade Port Despite Sluggish Climate
3T Partners with Hong Kong Company To Secure Cashew Contract for Exporters
W
ith the inflow of quality overseas capital and the registration of export-oriented Chinese enterprises, the Tianjin Dongjiang Free Trade Port Zone saw an export surge of 30 percent last year, in an atmosphere of sluggish trade and export globally. Dongjiang is part of the China (Tianjin) Pilot Free Trade Zone. Last year, more than half of the registered enterprises in Dongjiang were from the Beijing-Tianjin-Hebei area, stimulated by the Beijing-Tianjin-Hebei synergetic development strategy. An export base designed to serve Chinese enterprises' overseas development has been set up in Dongjiang. The Tianjin free trade zone imported some 53,000 parallel imported cars, worth $2.74 billion last year. It takes 80 percent of the country's total parallel imported cars. According to Jiang Guangjian, deputy director of the China (Tianjin) Pilot Free Trade Zone, the outbound investment by enterprises from the zone reached $12 billion last year, accounting for half of Tianjin's total. (Excerpts from )
Tension Brewing Over Location of Proposed Timber Export Facility on Kangaroo Island
T
ension is building between Australia's first publicly listed timber company and the country's largest abalone producer, over a proposed multi-user wharf on Kangaroo Island.
I
n our aggressive drive to grow the non-oil export volume from Nigeria, 3T Impex Consulting Limited has recorded another milestone via the recently signed MOU with an Hong Kong based company (DTO Corporation Hong Kong) to buy Raw Cashew Nut from Nigeria. This has created a huge market opportunities for the Exports of Raw Cashew Nuts across Nigeria. The minimum contract volume is 10 container (170MT) and it is valid till March 31, 2017. This means that the shipment period is within the month of February and March 2017. For this contract, the buyer's representatives will be in Nigeria to inspect the goods with SGS and 100% payment will be made within 7working days after shipment. For more details on the unit price, quality specifications and other details, kindly send an email to
[email protected] (Excerpt from www.tradeinfong.com)
The Kangaroo Island Plantation Timber company first unveiled its plans for the $25 million export facility last year, after it bought of 19,000 hectares of agricultural land in a deal which effectively tripled its timber resources.
3T Partners with A UAE Company To Secure Charcoal Contract for Exporters
KIPT managing director John Sergeant said the $55 million timber deal with New Forests Asset Management would change the face of the South Australian forestry industry. "Those plantations can produce every year about a quarter as much timber as is currently exported through Portland, the largest timber terminal in the world," he said. (Excerpt from www.abc.net.au)
3T Export Training Products Now on Deal Dey.com
I
n a bid to promote the knowledge and practice of export business in Nigeria, 3T Impex trade academy now showcases her export training products on Dealdey.com.
I
n our aggressive drive to grow the nonoil export volume from Nigeria, 3T Impex Consulting Limited has recorded another milestone via the recently signed MOU with a UAE based company Epoch General Trading FZE to buy Hardwood Charcoal from Nigeria. This has created a huge market opportunities for the Exports of Charcoal across Nigeria. The minimum contract volume is 10 containers (190MT) and it is valid for 6months. For more details on the unit price, quality specifications and other detail. The broker charges the sum of N20, 000 per container. Kindly send an email to
[email protected] get the details.
This is an act to help boost export products, which in turn helps generate foreign exchange to the Nigerian Economy as well as divert attention to oil to other commodities that can be exported out of Nigeria. The export training products on Dealdey helps to promote export, help intending and existing customers know how to analyze monetary resources and controlling export business in the International trade market. (Excerpt from www.3timpex.com)
OTHER HEADLINES
3T Partners with Hong Kong Company to Secure Cashew Contract for Exporters
Outrage As Indian-packaged Garri Sells in Nigeria - www.punchng.com
(Excerpts from www.tradeinfong.com)
FG, WTO in talks on Import Prohibition List, Export - www.businessdayonline.com
ENHANCING EXPORT TRADE EDUCATION
EXPORT EDUCATION STARTING AND MANAGING EXPORT BUSINESS IN NIGERIA IN CONJUNCTION WITH NIGERIA EXPORT PROMOTION COUNCIL
Handling the Critical 5Ps of Export Business Success-Part-4(The Paperwork) By BamideleAyemibo ….CONT'D FROM LAST ISSUE
th
T
he next question states that, When are the documents supposed to be processed? This is also a very crucial question because if the documents are not issued in the correct period, this could jeopardise the success of the transactions. The documents obtained and processed through the bank before shipment are called the Pre-Export Documentations and they include NXP form, Export Certificate, Certificate of Incorporation, Proforma Invoice, Receipt of payment, Nigeria Export Supervision Scheme (NESS) fee.
st
DATE: February 28 and March 1 , 2017 TIME: 9:00am – 4:00pm FEE: N55, 000 VENUE: Nigeria Export Promotion Council ADDRESS: NO 13/15, Ladipo Oluwole Street, Liverpool Area, Apapa, Lagos State.
The documents processed and obtained after shipment are called Post-Export Documentations. These can be divide into two groups namely the Shipping Documents (transport documents (Bill of lading, Airway bill, Road Waybill etc.), Commercial Invoice, Packing list, Quality and Quantity Certificate, Certificate of Origin, Phytosanitary Certificate, Fumigation Certificate etc.) and the Exchange Control Documents (Single goods declaration, NXP endorsed by the Nigerian Customs Service and Clean certificate of inspection) The fourth question states that, who are the people that need the documents? The pre-export documents need to be processed by the exporters through the bank in order to legally clear their goods for export in Nigeria. The shipping documents are needed by the seller to show evidence of shipment and claim payment. They are also needed by the buyer to meet the regulatory requirements needed to clear the goods at the port of discharge. Finally, the exchange control documents are needed by the banks to confirm that export proceeds received by an exporter were based on legally exported items before reporting the inflow to the Central Bank of Nigeria. For questions on this thought, you can reach me via email to
[email protected]
….TO BE CONTD IN NEXT ISSUE
Every 2nd & 3rd Saturdays of every Month
N103,500
EXPORT DIGEST
ENHANCING EXPORT TRADE EDUCATION
EXPORT TRAINING PRODUCTS
EXPORT MISCELLANEOUS TRADE LEADS EXPORT ORDERS S/N PRODUCT
SPECIFICATIONS
MINIMUM SHIPMENT
1.
Seller to provide lab analysis and pictures Seller to provide lab analysis and pictures Charcoal from Hardwood like Ayin, Size40-200mm, no sparkling wood and moisture -8% max Seller to provide samples and pictures
170 MT Per Month
Seller to provide samples and pictures
60 MT Per Month
2. 3. E-SONCAP& E-FORM M & Incoterms Bill for Collection,
Title: HS Code Determination, Duty Calculation(Series I) Author: Duration:
Bamidele Ayemibo
4. 5.
62Mins
Price: N5,000:00
Raw Cashew Nut from Hong Kong Cocoa request from Thailand Charcoal request from Dubai Cocoa Beans request from India Pineapples request from Turkey
100 MT Per Month 60 MT Per Month
100 MT Per Month
LOCAL ORDERS S/N PRODUCT
SPECIFICATIONS / PAYMENT
MONTHLY VOLUME
1 2 3
Purity-35% | Bank Guarantee Purity-50% | Bank Guarantee Purity-30% | Bank Guarantee
120 MT Per Month 120 MT Per Month 120 MT Per Month
Zinc Ore Lead Ore Lead Oxide
COMMODITY PRICES (BLOOMBERG)
N5,000 Title:
Import Guideline, Clearing& Documentation Sales Contract, Import Process and PAAR (Series II)
Author: Bamidele Ayemibo Duration:
67Mins
Price: N5,000:00
S/N COMMODITY
PRICES
UNIT OF MEASURMENT
1 2 3 4 5 6 7
USD 1,995.00 USD 150.90 USD 75.75 USD 1,884.00 USD 6,040.00 USD 2,865.00 USD 19,325.00
Metric Tonnes (Mt) Pounds (lb) Pounds (lb) Bushel (Bu) Metric Tonnes (Mt) Metric Tonnes (Mt) Metric Tonnes (Mt)
Cocoa Beans Coffee Cotton Aluminium Copper Zinc Tin
EXPORT TERMS USED IN INTERNATIONAL TRADE …..CONTD FROM LAST ISSUE
INHERENT VICE
An insurance term that explains the defects or characteristics of a product that could lead to deterioration without outside influence. FREIGHT CARRIAGE Here, the seller has to procure transport insurance against the risk of (and Insurance loss of or damage to the goods during the carriage. The seller contracts Paid To) with the insurer and pays the insurance premium. Export Merchant Title:
Zero Demurrage, Risks& Fraud Mitigation(Series III)
Author: Bamidele Ayemibo Duration:
31Mins
Price: N5,000:00
FREE CARRIER
A producer or merchant who sells directly to a foreign purchaser without going through an intermediate such as an export broker. The seller must clear the goods for export, and deliver them to a carrier at a specific point determined by the buyer. The buyer then bears all costs and risks of transporting the goods to the desired destination. TO BE CONTD IN NEXT ISSUE….
