What resources are available to New Jersey businesses interested in international trade?
Recent Regulations and Resources
1. Office of Export Promotion
New Jersey companies interested in global business activity can tap into a number of resources available through NJBAC’s export promotion unit. Global Advocates help small to mid-size businesses develop a viable export plan. Advocates offer guidance in identifying global business opportunities, helping locate buyers, and potential markets, test local demand, and connect businesses with partners for joint ventures and strategic alliances. The office can help navigate the complexities of exporting once a company has entered the global marketplace. It also administers the NJ State Trade Expansion Program (NJSTEP) grants that allow eligible companies to participate in internationally-focused trade shows and trade missions. The Office can pinpoint federal resources available for obtaining payment from vendors, providing government-to-government advocacy, and understanding foreign custom procedures. It also provides assistance with regulatory compliance policies and advocates on behalf of companies with customs. The Office collaborates with universities and various organizations, like the U.S. Export Assistance Centers, in an effort to develop small businesses into new exporters expand their markets through co-sponsored training and services. Contact Export Promotion Manager at 1-800-JERSEY7.
2. Office of International Trade and Investment
The Office of International Trade and Investment within the NJEDA is charged with:
• Increasing Foreign Direct Investment (FDI) into New Jersey;
• Recruiting international businesses to the State;
• Strengthening New Jersey’s relationships with the diplomatic community in the greater New York area;
• Coordinating Governor-led trade missions, as well as other international outreach by the State.
Contact the Office of International Trade and Investment (OITI) at (609) 858-6767.
3. U.S. Export Assistance Center (USEAC)
U.S. Export Assistance Centers, part of the U.S. Commercial Service, are federal offices dedicated to helping New Jersey companies develop international markets. Export Assistance Centers are located in Newark and Lawrenceville, NJ and are part of an international network of global professionals. There are offices in 70 countries around the world prepared to help New Jersey companies grow. International Trade Specialists can help with Business Matchmaking – identify and evaluate international partners, Trade Counseling – navigate international logistics, documentation, finance, legal and regulatory issues, and Market Intelligence – create market entry strategies – by accessing country-specific market research.
U.S. Export Assistance Center
744 Broad St., Ste. 1505
Newark, NJ 07102
(973) 645-4682 https://2016.export.gov/newjersey/
4. Foreign Trade Zones
Companies operating in a Foreign Trade Zone (FTZ) pay no duties on merchandise imported for manufacturing or assembling, when the final product is exported outside the United States. Duties are only paid when these products leave the zone for the domestic market. In addition, there are no duties paid on merchandise shipped from one FTZ to another. New Jersey has five Foreign Trade Zones: