SAMI ULLAH KHAN 9494

WEEKLY ASSIGNMENT

 THE PROCESS OF EXPORTING TO THE MOST

SUITABLE COUNTRY:
As I have mentioned in my previous tasks that exporting is a
good option for me in order to expand my business
internationally. I have chosen exporting of minerals especially
gemstones to the most suitable countries. As we all know that
exporting has many benefits like we can have diversifying
market opportunities and have access to many businesses and
consumers. In order to export gemstone I would say that the
most suitable country to export gemstone is Hong Kong. They
have the best consumer market plus the geographical location
is also good. Hong Kong annually Imports almost 2 billion $
gemstones. Following are the process of how to export
gemstones to Hong Kong:

1) The receipt of an export order is the first step in the

processing of an export order. Simply put, an export order
indicates that the exporter and importer should reach an
agreement in the form of a paper before the exporter begins
producing or sourcing items for shipment.
2) After receiving an export order, the exporter should review it
in light of the contract's terms and conditions. In reality,
because all subsequent actions and reactions are based on the
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terms and circumstances of the export order, this is the most

critical stage.
3) The exporter asks the bank for a pre-shipment credit based on
established procedures. After receiving credit, the exporter
begins to manufacture, procure, and pack items for export.
4) The procedure of gaining clearance from central excise duty
begins as soon as items are manufactured/ procured.
5) The exporter appoints clearing and forwarding agents after
completing the process of getting the Inspection Certificate
from the customs offices. These agents execute a variety of
responsibilities on behalf of the exporter.
6) After receiving the above documents from the forwarding
agent, the exporter applies for and receives a Certificate of
Origin from the Chamber of Commerce. If the items are being
exported to a country that offers GSP benefits, the exporter
must obtain a GSP Certificate of Origin from the relevant
authorities, such as the Export Inspection Agency.
7) The products to be exported are packaged, labelled, and
labelled when the excise clearance and pre-shipment
inspection formalities are completed. Marking, labelling, and
packing help to ensure that commodities are transported
quickly and safely. The export department makes
arrangements for space on the ship that will transport the
products to the importer.
8) The clearing and forwarding agent takes delivery of the cargo
from the railway station or the road transport business after
receiving the documentation from the export department and
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stores it in the warehouse. He also gets customs clearance and

approval from the port authority to enter the shipment shed
with the cargo.
9) Finally, the exporter sends the importer a "Shipment Advice"
indicating the date of shipment of the consignment by a
designated vessel and the projected time of arrival at the
importer's destination port.
10) The importer will also receive the following documentation
(i) Commercial Invoice (ii) Packing List (iii) Customs Invoice
(iv) Bill of Lading
11) At the end of the process, the exporter takes all of the
documentation to his bank to get the money he owes the
importer.

 RAW MATERIAL FOR THE PRODUCTION OF

GEMSTONES:
There is no raw material required for the production of
gemstones. We only need mining technologies in order to
mine gemstones.