Over the years, businesses have become fiercer and fiercer as they progress their way up the business ladder. As trade and investment continue to increase, the tougher the competition is for the firm sectors today. For that reason, firms should keep track of this fast-paced and modern society in order to find new opportunities for growth.
Business Opportunities in India
For a third world developing country like India, there are a lot of innovative business and trade opportunities that are overlooked by most entrepreneurs today. This beautiful country is known for its land, spices, jewelry, diverse religions, and ancient architecture. Through the years, India has exported over $57 billion of refined petroleum, $41 billion jewelry and pearls, $14 billion vehicles, and $13.8 billion boilers and machinery, with a total of $314 billion of total goods exported. Indeed, India is called the ‘Land of Opportunities’ for a reason.
Unexplored Business Sector in Vietnam
Vietnam is considered as an alternative country to China because of its low-cost production and labor. According to the recent statistics, this country has furnished an estimated amount of $15.1 billion worth of international services over the past year. Vietnam is a known supplier of the following: electrical machinery equipment, footwear, clothing, leather, animal gut articles, furniture, machinery including computers, etc.
Business Ventures in South Korea
The Republic of Korea (South Korea) has been increasing its popularity today because of its music and entertainment industry. As of the year 2019, South Korea’s exports totaled to $542.3 billion and ranked as the seventh-largest export economy in the world. South Korea’s top 5 commodity exports are: refined petroleum ($24 billion), silver ($1.65 billion), copper ($1.19 billion), zinc ($1.17 billion) and gold ($1.05 billion). Some of South Korea’s other notable exports are integrated circuits ($49.3 billion), LCDs ($16.1 billion), cars ($37.4 billion), passenger and cargo ships ($25.1 billion) and vehicle parts ($21.7 billion.)
Trading Wonders in The Philippines
The ‘Pearl of the Orient Seas’ or the Philippines is one of the richest countries when it comes to natural resources. The country’s top exports are: gems, and other precious metals ($1.5 billion), fruits and nuts ($2.1 billion), optical, technical and medical apparatus ($2.2 billion), machinery and computers ($9.6 billion) and electrical machinery and other similar equipment ($32.9 billion)
Ocean of Bright Opportunities for Thailand
There are a lot of great options for establishing a successful trading business in Thailand. Prominent of this would be their transportation hubs via air, road, rail, and sea. Thailand’s top commodity exports would be refined petroleum ($6.19 billion), rubber ($5.16 billion), rice ($4.39 billion), raw sugar ($2.66 billion), and gold ($3.64 billion).
Seizing The Market and Trade Opportunities in Asia
Before you proceed to the trade process of various products and goods across different countries, it is important to have adequate knowledge about the country’s logistics industry–their capacity to safely deliver your goods across varying distances. Another thing is to take note of items and products that are restricted by the country’s custom offices, and make sure to comply with their guidelines in the transportation of various goods and products.