Nevena Simidjiyska was featured in the NJBIZ article, "International Exporting Conference Offers a World of Opportunity for Those in Attendance." Full text can be found in the September 11, 2014, issue, but a synopsis is below.
The MIDJersey Center for Economic Development's International Business Opportunities Conference provided businesses and officials an opportunity to network with foreign delegations and discuss best practices for U.S. businesses exporting products and services internationally.
Nevena Simidjiyska was among the speakers at the conference and warned that companies may be unaware they are exporting and as a result could face hefty fines.
"An export is the transfer of an article, software, or technical data outside of the U.S.," Simidjiyska said. "If you simply email engineering specs or instructions for your product to Germany, you've exported the product to Germany. If you download software and upload it to a cloud server in Mexico, you've exported the product to Mexico."
Simidjiyska stressed the need to visit markets personally before exporting a product there.
"You need to document how and where your customers plan to use your product," she said. "You can also be on the hook for where your product is transferred and how it is used."
She also warned that an export does not always have to be a physical sale.
"Services are also controlled by the state in a similar manner to products," Simidjiyska said.
Originally published by NJBIZ
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
