Ready to share your products with the world?

Find key resources and port information to smoothly export

How it works

Export Made Easy: 3 Steps to Ship Your Creations`

Select the Origin & Destination Country

Begin Your Export Journey by selecting the Origin and Destination Countries i.e Sri Lanka Mexico

Explore major ports and find the best route

After Selecting Countries, Explore Major Ports and Choose the best Feasible Options i.e Port of Beruwala Puerto de Chetumal (Quintana Roo)

Learn about Export regulations and cost factors

Delve into the Details and understand more about Export Regulations and uncovered Hidden Costs

Introduction

In the vast world of global trade, export-import activities serve as crucial elements shaping economies and industries worldwide. Yet, beneath the surface lies a maze of processes, paperwork, and expenses that not only impact businesses but also reverberate throughout the global economy.This blog serves as a roadmap through the complexities of export-import operations. Dive into the intricacies of exporting, from market research and product selection to the logistical challenges of shipping goods across borders. Explore the essential documentation needed, such as export licenses and customs declarations, which are vital for ensuring compliance with international trade regulations.Furthermore, uncover the various costs involved in export-import business, spanning production expenses, transportation fees, and the impact of tariffs and currency fluctuations. Understand how these factors influence profit margins, market competitiveness, and their broader implications on the global economic landscape

Export Process from Sri Lanka to Mexico

Exporting from Sri Lanka involves several steps and procedures. Here's an overview of the export procedure for Sri Lanka: Company Registration:To engage in export activities, companies must be registered with the Registrar of Companies in Sri Lanka. Obtain Necessary Licenses and Permits:Depending on the type of products being exported, exporters may need to obtain specific licenses or permits from relevant authorities. For example, agricultural products may require phytosanitary certificates, while certain industrial goods may need export licenses. Product Compliance:Ensure that exported products comply with international standards and regulations. This may involve obtaining certifications such as ISO certification, quality standards, and compliance with import regulations of the destination country. Documentation:Prepare all necessary export documentation, including: Commercial Invoice,Packing List,Bill of Lading ,Certificate of Origin,Export License or any other specific documents required by the destination country or relevant authorities. Customs Clearance:Submit all required documentation to Sri Lanka Customs for customs clearance. This involves declaring the goods, paying any applicable duties or taxes, and obtaining clearance for export. Cargo Handling and Transportation:Arrange for the handling and transportation of the goods to the port or airport for export. Work with freight forwarders or shipping agents to ensure smooth logistics Export Declaration:File an export declaration with Sri Lanka Customs, providing details of the exported goods, their value, destination, and other relevant information. Payment and Finance:Arrange for payment terms and financing for the export transaction. Explore options such as letters of credit, advance payment, or export financing facilities provided by banks or financial institutions. Post-Shipment Documentation:Complete any post-shipment documentation requirements, such as submitting proof of export to relevant authorities or obtaining certificates of shipment. Record Keeping: Maintain comprehensive records of all export transactions, including documentation, contracts, invoices, shipping records, and payment details, for auditing and compliance purposes.

Getting an Order

Sri Lanka producers receive orders from Mexico. They then obtain information related to economic capacity, creditworthiness, and reliability of consumers in Mexico. Once assured, they examine export order details such as quantity, pricing, packaging, delivery date, insurance, transport details, payment mode, and terms.

Sri Lanka producers receive orders from Mexico. They then obtain information related to economic capacity, creditworthiness, and reliability of consumers in Mexico. Once assured, they examine export order details such as quantity, pricing, packaging, delivery date, insurance, transport details, payment mode, and terms.

Read More

Export License

The exporter needs to obtain an export license under the Imports and Exports Control Act. Goods/services listed in the published list can be exported freely, but items not mentioned require a specific license from the trade department. Exporters must also provide identity verification, tax assurance, and business details.

The exporter needs to obtain an export license under the Imports and Exports Control Act. Goods/services listed in the published list can be exported freely, but items not mentioned require a specific license from the trade department. Exporters must also provide identity verification, tax assurance, and business details.

Read More

Manufacturing Goods

After obtaining the export license, if the exporter is a manufacturer, they start producing goods as per the order. If the exporter is a trader, they procure goods from the market as per order specifications.

After obtaining the export license, if the exporter is a manufacturer, they start producing goods as per the order. If the exporter is a trader, they procure goods from the market as per order specifications.

Quality Control & Inspection

Quality control ensures compliance with international standards. Inspections involve checking product characteristics, functionality, safety, and regulatory compliance. Physical examinations occur at various stages, including pre-production, in-process, and pre-shipment inspections.

Quality control ensures compliance with international standards. Inspections involve checking product characteristics, functionality, safety, and regulatory compliance. Physical examinations occur at various stages, including pre-production, in-process, and pre-shipment inspections.

Forex Activity

Mexico makes payment to Sri Lanka in either Sri Lanka's currency or US dollars. However, exporters do not receive funds directly; they must apply to the central bank for foreign exchange conversion and report transaction details.

Mexico makes payment to Sri Lanka in either Sri Lanka's currency or US dollars. However, exporters do not receive funds directly; they must apply to the central bank for foreign exchange conversion and report transaction details.

Letter of Credit

To ensure financial security, exporters demand a Standby Letter of Credit from importers before shipment. Importers obtain this from their bank. If Sri Lanka's bank has a branch in Mexico, they may directly verify credit.

To ensure financial security, exporters demand a Standby Letter of Credit from importers before shipment. Importers obtain this from their bank. If Sri Lanka's bank has a branch in Mexico, they may directly verify credit.

Shipping Order

When exporters in Sri Lanka instruct a shipping company to deliver goods to Mexico, the company issues a shipping order. Exporters must submit an application detailing shipment quantity, weight, cost, and scheduling. If renting an entire ship, a 'Charter Party Agreement' is signed.

When exporters in Sri Lanka instruct a shipping company to deliver goods to Mexico, the company issues a shipping order. Exporters must submit an application detailing shipment quantity, weight, cost, and scheduling. If renting an entire ship, a 'Charter Party Agreement' is signed.

Custom Fees

Exporters prepare a shipping bill, including details such as importer information, goods' price, weight, and port details. Customs officers inspect the goods and calculate duty fees based on the customs tariff code before approving shipment.

Exporters prepare a shipping bill, including details such as importer information, goods' price, weight, and port details. Customs officers inspect the goods and calculate duty fees based on the customs tariff code before approving shipment.

Packing Goods

Proper packing and marking of goods are crucial before shipment. Sri Lanka exporters must ensure secure packaging to prevent damage during transit. They must also follow specific packing instructions required by Mexico.

Proper packing and marking of goods are crucial before shipment. Sri Lanka exporters must ensure secure packaging to prevent damage during transit. They must also follow specific packing instructions required by Mexico.

Insurance of Goods

To safeguard against risks like natural disasters, piracy, and accidents during transit, exporters must obtain insurance. They approach an insurance company, pay the premium, and receive an insurance policy covering potential losses.

To safeguard against risks like natural disasters, piracy, and accidents during transit, exporters must obtain insurance. They approach an insurance company, pay the premium, and receive an insurance policy covering potential losses.

Carting Order

Carting Order is the final clearance granted by customs for shipment loading. Exporters must submit an application to port authorities, including shipping bill details and proof of duty payment.

Carting Order is the final clearance granted by customs for shipment loading. Exporters must submit an application to port authorities, including shipping bill details and proof of duty payment.

Mate Receipt

Ship captains or officers verify whether goods match the shipping bill before issuing a 'Mate Receipt.' If goods are improperly packed, a 'Foul Receipt' is issued instead, requiring correction before final approval.

Ship captains or officers verify whether goods match the shipping bill before issuing a 'Mate Receipt.' If goods are improperly packed, a 'Foul Receipt' is issued instead, requiring correction before final approval.

Necessary Documents

Exporters must obtain essential documents like a Bill of Lading, Certificate of Origin, and other necessary permits to ensure a smooth shipment process to Mexico.

Exporters must obtain essential documents like a Bill of Lading, Certificate of Origin, and other necessary permits to ensure a smooth shipment process to Mexico.

Consular Invoice

Some countries require a Consular Invoice for duty assessment. Exporters in Sri Lanka obtain this document from Mexico's consular office in Sri Lanka. It certifies shipment details, making duty calculation easier.

Some countries require a Consular Invoice for duty assessment. Exporters in Sri Lanka obtain this document from Mexico's consular office in Sri Lanka. It certifies shipment details, making duty calculation easier.

Sending Documents

Exporters send a Documentary Bill containing invoices, insurance policies, bills of lading, certificates of origin, and consular invoices through their foreign exchange bank to the importer's bank.

Exporters send a Documentary Bill containing invoices, insurance policies, bills of lading, certificates of origin, and consular invoices through their foreign exchange bank to the importer's bank.

Collecting Money

Exporters authorize their bank to collect payment from the importer. They issue a Bill of Exchange, which can be:
1) Document Against Acceptance (D/A) - The importer receives goods upon accepting the bill.
2) Document Against Payment (D/P) - The importer gets goods only after full payment.

Exporters authorize their bank to collect payment from the importer. They issue a Bill of Exchange, which can be:
1) Document Against Acceptance (D/A) - The importer receives goods upon accepting the bill.
2) Document Against Payment (D/P) - The importer gets goods only after full payment.

Read More

Comprehensive Market Research for Exporting Goods to Mexico

Before any of the above-mentioned procedures, conducting market research before exporting goods to Mexico is crucial for understanding the target market, identifying opportunities, and mitigating risks. Here's a structured approach to conducting market research for exporting goods:

Define Objectives

Clearly outline the goals of your market research. Determine what you want to achieve, whether it's understanding market demand, identifying competitors, assessing regulatory requirements, or finding distribution channels in Mexico.

Clearly outline the goals of your market research. Determine what you want to achieve, whether it's understanding market demand, identifying competitors, assessing regulatory requirements, or finding distribution channels in Mexico.

Identify Target Market

Define the target market segment(s) for your product. Consider factors such as demographics, psychographics, purchasing power, and cultural preferences in Mexico.

Define the target market segment(s) for your product. Consider factors such as demographics, psychographics, purchasing power, and cultural preferences in Mexico.

Market Size and Growth Potential

Analyze the size of Mexico's market and its growth potential. Look for reliable data on population trends, GDP growth, consumer spending patterns, and industry forecasts.

Analyze the size of Mexico's market and its growth potential. Look for reliable data on population trends, GDP growth, consumer spending patterns, and industry forecasts.

Competitive Analysis

Identify competitors in the Mexico market. Analyze their products, pricing strategies, distribution channels, marketing tactics, and market share. Understand their strengths and weaknesses to position your product effectively.

Identify competitors in the Mexico market. Analyze their products, pricing strategies, distribution channels, marketing tactics, and market share. Understand their strengths and weaknesses to position your product effectively.

Regulatory Environment

Research the regulatory environment in Mexico. Understand import/export regulations, tariff rates, customs procedures, product standards, labeling requirements, and any other legal considerations.

Research the regulatory environment in Mexico. Understand import/export regulations, tariff rates, customs procedures, product standards, labeling requirements, and any other legal considerations.

Cultural and Social Factors

Understand the cultural nuances and social factors that may influence consumer behavior in Mexico. Consider language, values, beliefs, traditions, and societal norms.

Understand the cultural nuances and social factors that may influence consumer behavior in Mexico. Consider language, values, beliefs, traditions, and societal norms.

Distribution Channels

Identify potential distribution channels for your product in Mexico. Research wholesalers, retailers, distributors, agents, and online platforms. Evaluate their reach, reputation, and suitability for your product.

Identify potential distribution channels for your product in Mexico. Research wholesalers, retailers, distributors, agents, and online platforms. Evaluate their reach, reputation, and suitability for your product.

Consumer Preferences and Trends

Study consumer preferences and trends in Mexico. Conduct surveys, interviews, or focus groups to gather insights into product preferences, buying habits, usage patterns, and emerging trends.

Study consumer preferences and trends in Mexico. Conduct surveys, interviews, or focus groups to gather insights into product preferences, buying habits, usage patterns, and emerging trends.

Pricing Strategy

Determine an appropriate pricing strategy for your product in Mexico. Consider production costs, competitor pricing, perceived value, and willingness to pay. Adjust pricing based on local market conditions and consumer preferences.

Determine an appropriate pricing strategy for your product in Mexico. Consider production costs, competitor pricing, perceived value, and willingness to pay. Adjust pricing based on local market conditions and consumer preferences.

Market Entry Strategy

Based on your research findings, develop a market entry strategy. Decide whether to enter Mexico directly or through partnerships, joint ventures, or acquisitions. Consider investment requirements, risk tolerance, and long-term objectives.

Based on your research findings, develop a market entry strategy. Decide whether to enter Mexico directly or through partnerships, joint ventures, or acquisitions. Consider investment requirements, risk tolerance, and long-term objectives.

Risk Assessment

Evaluate the risks associated with exporting to Mexico. Identify potential challenges such as currency fluctuations, political instability, legal disputes, and supply chain disruptions. Develop contingency plans to mitigate these risks.

Evaluate the risks associated with exporting to Mexico. Identify potential challenges such as currency fluctuations, political instability, legal disputes, and supply chain disruptions. Develop contingency plans to mitigate these risks.

Market Testing

Consider conducting a pilot test or soft launch in Mexico to gauge market response before fully committing resources. Test your product in a limited geographical area or with a select group of consumers to gather feedback and refine your strategy.

Consider conducting a pilot test or soft launch in Mexico to gauge market response before fully committing resources. Test your product in a limited geographical area or with a select group of consumers to gather feedback and refine your strategy.

Monitor and Adapt

Continuously monitor market dynamics, consumer behavior, and the competitive landscape in Mexico. Stay updated on changes in regulations, economic conditions, and industry trends. Adapt marketing and sales strategies accordingly to maximize success.

Continuously monitor market dynamics, consumer behavior, and the competitive landscape in Mexico. Stay updated on changes in regulations, economic conditions, and industry trends. Adapt marketing and sales strategies accordingly to maximize success.

Frequently Asked Questions for Sri Lanka to Mexico

I Understand

By continuing to use this site you consent to the use of cookies.

Know More.
X