October 25, 2012

Suzanne West
(804) 545-5806
-Comprehensive best practices guide provides service exporters with basic overview of export process-

RICHMOND - The Virginia Economic Development Partnership’s (VEDP) International Trade division today announced the release of “Exporting Services: A Guide for New Exporters.” VEDP-International Trade’s focus is to promote the exports of Virginia companies with the goal to grow jobs and increase the state’s tax base. In order to build on the strength of the state’s service sector to grow service exports and the high-paying jobs they support, VEDP developed the guide to exporting services as a resource to service companies.

Virginia’s service sector is significant, and continues to grow. All but one of the eight economic sectors that added jobs in Virginia in 2011 was a service industry.* The guide outlines export processes, checkpoints and resources as they apply to service companies, looking closely at the aspects of exporting that are unique to this sector. With this guide, more Virginia service companies will be able to export.

The following key points for service exporters are examined in the guide:

• Assessing export readiness
• Understanding export regulations
• Selecting an international market
• Intellectual property protection
• Work permits, certifications, and standards
• Market entry
• Financing and payments

“Virginia’s service sector is vital to its economy,” said VEDP Vice President of International Trade Paul Grossman. “We have a timely opportunity to help our service companies grow sales through exports and thus add high-paying jobs in the Commonwealth. The “Exporting Services: A Guide for New Exporters” report is one of the first resources out that provides comprehensive instructions on how to get started and the best practices for exporting. We are confident that this guide will help lead more of Virginia’s service companies into the export game.”

To access VEDP-International Trade’s guide to exporting services, click here:

The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 25-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Shanghai, Mexico, Japan, India and the United Kingdom.
*(Felberbaum, 2012)


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