provides you with everything you need to know about foreign markets. We inform you about market conditions and research the current economic situation and development so that you can be successful abroad. Direct support on location is available to you at our liaison offices in Brazil, China, India, Japan and Russia.
Work on committees is essential in the VDMA. The committees of the Foreign Trade Department deal with export issues and tasks, develop positions on trade policy issues and, last but not least, maintain a dedicated network of experts.
Similar to Italy's SACE, the state Hermes Cover wants to finance credit lines for foreign importers with great financial strength. The new introduction of the "Shopping line", which has already been discussed for some time, is part of the 5-point package of measures of the Federal Government of 07.07.2020.
China spends billions on export financing every year without following the rules of the OECD. The US-Exim Bank has now been granted a programme of US$ 27 billion, expressly in order to win the competition with China on terms and conditions in export financing.
The VDMA Foreign Trade Association advises you with regard to international markets. In addition, there are various offers from the federal and state governments to support you in opening up international markets.
More and more VDMA members want to find out about the structure and economic situation of their customers or potential partners in China. The VDMA offices in China have taken up this demand and now offer a corresponding service via the local VDMA service company.
After a first meeting on June 3, this time 6 company representatives met and reported largely uniform problems despite different experiences. A representative of the Saudi Ministry of Investment also took part.
The text of the Free Trade Agreement between the European Union and the Socialist Republic of Viet Nam was published in the Official Journal of the European Union. According to a communication of 30 June 2020, the trade part of the agreement will enter into force on 1 August 2020.
Many companies have organised virtual customer events as an alternative to unusual trade fairs. The VDMA has organized an exchange between these companies. The results will be incorporated into the further work of the VDMA.
It is not yet clear which rules will soon apply to exhibition stands. Unfortunately, there will not be nationwide uniform regulations. But there are recommendations for action by the FAMAB. Exhibitors should not let themselves be unsettled now and should wait with decisions until the concrete conditions for their trade fairs have been established.
The latest survey of VDMA companies in Brazil shows that the majority of VDMA members classify the situation as "bad" at the beginning of May 2020. 42% of the companies assessed the business situation as normal and only 3% as good. The hope is that this will improve quickly.
After the first successfully organized flights to China, the BDI and VDMA are now investigating the need for travel to other countries. The aim is to make travel possible for the most important destination countries.
In February VDMA invited its member companies in Saudi Arabia to a members' meeting in AlKhobar. In view of the current situation, a virtual get-together has now been organized. More than a dozen companies have exchanged information about the current situation.
The revision of the tips brochure on doing business in China is now available. It contains highlights on the most important aspects of trading with China and at the same time links them to the respective experts in the VDMA.
Many VDMA members are currently being asked to provide their business partners with declarations that they operate an "essential production". This raises questions as to why the VDMA has prepared a memo on this topic.
The World Customs Organisation (WCO) has published the amendments to the Harmonised Commodity Description and Coding System (HS) planned for 2022. There will also be some changes for mechanical engineering.
Since 30 March 2020, the official export credit agency has opened up its cover to EU Member States and markets such as the USA or Canada. It is designed to cover deliveries on open account on short payment terms. The EU Commission decided on 27 March 2020 on a corresponding exemption. VDMA has been campaigning for such an decision.
Do you have employees who are stuck abroad as a result of the corona crisis and who are supposed to come back to Germany? BDI has launched an activity on the initiative of VDMA and Siemens. Please send your feedback by March 25, noon.
In a survey, the VDMA Foreign Trade Association investigated why member companies only partially use the EU's free trade agreements for exports. The result provides valuable information for future negotiations of free trade agreements.
About 30 company representatives met in Al Khobar to exchange information about Localization and Saudization. There were a few surprising findings. The prestentation of a SAIPEM employee was very helpful.
Some EU partner countries have already formally declared that they will recognise products originating in the United Kingdom as "originating in the EU" during the transitional period. Other partners have signalled their willingness to do so.
Saudi Arabia has banned non-biodegradable plastics packagings. This is for production within Saudi Arabia and imports. Also machinery and spare parts may not be shipped to Saudi Arabia inside non-biodegradable plastics packagings.
With the entry into force of the withdrawal agreement, the United Kingdom will no longer be a member of the European Union from 1 February 2020. However, ambiguities remain in the preferential processing.
On the basis of various studies, the EU Commission comes to the conclusion that the EU's free trade agreements are not being used sufficiently by companies. The average usage rate is "only" 80 %. Why is that?
tr8fin combines professional expertise with state-of-the-art technology. Experienced finance managers from the mechanical engineering sector found an export credit platform specialized on supplier credits.
For just over a year now, AKA Ausfuhrkredit-Gesellschaft mbH has been offering a highly standardised, digital application process for ECA-covered buyer credits between one and 10 million euros or US dollars via the specially developed online portal SmaTiX (Small Ticket Express). AKA is thus closing the gap for small-ticket ECA-financing.
The new EU Dual-Use Goods List was published in the Official Journal of the EU at the end of the year (EU Regulation 2019/2199). It contains some changes that are also relevant to the mechanical engineering sector and will apply from 31.12.2019.
This month we are updating our privacy statement to better understand what information we collect and why. We have also taken steps to improve our features to protect your information and privacy.
There is no change to your current settings or how your data is processed. We have merely improved the explanation of our procedures and explain to you in more detail what options you have to update, manage and delete your data.
We take the protection of your personal data and their confidential treatment very seriously.
General information about the scope of processing of your personal data and about your data protection rights can be found at www.vdma.org/datenschutz.
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