GCA Leads Trade Delegation of USA Government Contractors to South Korea
To grow your business, sometimes you must think out of the box. Out of the box may mean taking your business out of the USA market. This is exactly what 10 companies are doing as they join the Government Contractors Association (GCA) on a trade delegation from the United States to Seoul, South Korea.
On December 4th – 9th, GCA will lead a Trade Delegation from the USA to the Global Public Procurement Marketplace Event in South Korea (GPPM). This delegation of US companies will be on the grounds in South Korea to engage and explore the possibilities of collaborating with Korean companies. This is an initiative set up by Sungshin Women’s University, GCA, G-PASS members, and the Korean government’s Public Procurement Service, similar to the General Service Administration, here in the USA.
In a competitive global market, you need an edge over your competitors. One way to do that is to source out potential partners domestically. Most government contractors understand that teaming and joint venture partnerships are essential to the long-term success in the government market. No one company has the bench or resources to not utilize a cooperative teaming approach. Based on our research, we estimate that over 70% of all government related projects require some type of partnership efforts. Whether it is a large prime working with subcontractors or two small businesses teaming together to provide the best solution to the government.
As such, since most businesses are already sourcing teaming arrangements domestically, why not explore the international market. And if you’re considering international trade, why not do it with a collaborative effort with the University and the Government of the country which you’re sourcing from. You may think, why should I consider this? Well, some possible advantages are:
- Better Pricing: You might get better pricing sourcing directly from the international manufacturer than through a 3rd party distributor.
- Minimized Risk: There will always be risks in doing business, especially internationally. In this situation, it is better to work through a University and through the Korean Public Procurement Service agency than to go directly to international companies. An element of trust and more transparency will have been already established by the organizers to engage the trade delegation.
- New Technologies/New Products: When you’re meeting with and exploring new partners, you’ll be in a position to better source out new technologies and new products. New ideas and improved technologies can come from anywhere in the world.
- Gained Knowledge/New Relationships: At a minimal, a well-traveled business owner will always have better perspective in a competitive landscape. In a trade delegation, like this one, entrepreneurs will gain valuable insights and new relationships which can lead to future growth opportunities.
Abraham Xiong, President of Government Contractors Association says, “We’re deeply honored to be working with our international partners, the Korean Public Procurement Service and Dr. Mankin Kim of Sungshin Women’s Univerity. We hope that this trade delegation will add value to our members, the 10 trade delegation companies, the Korean companies, and our partners with the Global Public Procurement Marketplace.”
This trade delegation is the first one with another trade delegation which will take place in 2017. The goal of this trade delegation and future trade delegation is to explore the possibilities of finding synergies between international companies as they seek to grow and expand internationally.
If you or someone you know is interested in being part of a future trade delegation, you may reach out to Myra Cisse at 404-955-8080 or by email at: firstname.lastname@example.org.
About the Author: Abraham Xiong serves are President of Government Contractors Association. He is a small business advocate, utilizing his entrepreneurial experiences to help small businesses to learn, access and grow their companies in the government market.