The countries of Asia, the Middle East, and the European Union in terms of trade are very different in their cultural characteristics and conditions of work. Konstantin Khalakhandrik, an analyst at Senda Agro-Traiding, a company that exports vegetable oil, spoke about this in an interview with APK-Inform.

For example, he notes, the buyer from the EU would almost always prefer fast shipping at a low price, and payment is made upon delivery.

There are also some problems with certification for export to the EU markets, and product quality is the main criterion for making a payment for him.

However, despite the long-term experience of cooperation, a European company at any time can buy oil from competitors, if the price is more interesting there.

Instead, the customers in Asia are more focused on long-term cooperation and less likely to change suppliers, Khalakhandrik says. They are more loyal to the quality of the goods and mainly make payment only by the letter of credit.

In the countries of the Middle East, consumers agree to give a higher price, but a deferred payment, just as they are prepared to prepay for a low price.

But the requirements for product quality are very strict, although the conditions for execution cargo and shipping documents are relatively flexible, the expert added.