Beginner's Guide to Exporting. 4th Edition.

8 Beginner’s Guide To Exporting Opportunities • MATRADE and other industry promotion organisations as an enabler • Malaysia’s export requirement is simplified and friendly • Government incentives (local and foreign countries) • Leveraging on FTAs Threats • Competition from low cost producing countries • Non-Tariff Barriers • Stringent standards and requirements • Technology disadvantage against other countries 3.2.3 PESTLE Analysis PESTLE is the analysis of the macro environment to better understand your target market. • Political Factors Understand the political situation of the importing country with respect to political stability, government policies and taxation system. • Economic Factors Know the key economic indicators such as GDP, interest rate, inflation rate, unemployment rate and purchasing power parity. • Socio-Cultural Factors Understand the social, cultural and religious factors such as attitudes and perception of customers to foreign products and services, language barriers and demographics. • Technological Factors Aware of the level of technology and its application namely R&D, incentives and the rate of technological changes. • Legal Factors Understand the legal factors such as discrimination law, consumer law, antitrust law, labour law as well as health and safety law. • Environment Factors Aware of the environmental factors including the ecological and environmental aspects such as weather, climate, and climate change. DEVELOPINGYOUR EXPORT PLAN CHAPTER 3