oriented toward business and trade, can supply information on Swedish exports to the United States. The New York Trade Commissioner is located at 1 Dag Hammarskjold's Plaza, New York 10017 (telephone 212-593-0045).

The United States maintains an Embassy in Stockholm at Strandvagen 101 (telephone 63 05 20). It also maintains the U.S. Trade Center at Vasagatan 11 (telephone 24 84 20) and the U.S. Cultural Center at Sveavagen 118.

Swedish Investment Information Office

The Swedish Industrial Development Corporation at 63 East 64th Street, New York, N.Y. 10021 may prove very helpful to the U.S. firm contemplating investment in Sweden. Six Swedish companies (of which four are Government-operated) joined together to form this New York corporation. Its aim is to stimulate the exchange of technology between U.S. and Swedish firms and to facilitate joint ventures, licensing agreements, and other forms of cooperation. Detailed information about the Swedish Industrial Development Corporation and its services may be obtained by writing or calling its New York office (telephone 212-628-0320).

Swedish Trade Organizations

Specific industries, trades, and professions are almost invariably grouped into associations. In turn, these associations are often represented in larger trade federations which have more general purposes. The most important, from the standpoint of export and import trade as well as domestic business activity, are listed below:

(1) The Federation of Swedish Industries (Sveriges Industriforbund), located at Storgatan 19, Stockholm. Its membership consists of all the major trade associations as well as individual Swedish industries. The Federation plays an active role in the formulation of Swedish industrial, business and trade legislation. Its staff of professional economists charts Swedish business trends, studies the impact of international commerce on Swedish industry, examines problems of technological development.

(2) Federation of Swedish Wholesale Merchants and Importers (Sveriges Grossistforbund), located at Storgatan 19, Stockholm. It is the principal organization for the private wholesale and import trade in Sweden. It is based upon about 55 branch associations (e.g., textiles, chemicals, machine tools) whose member firms act as

importers, wholesalers, distributors, agents, and general agents for all kinds of goods. The Federation's foreign trade department can supply registers of importers of different articles in Sweden. It supplies information about customs and license regulations, Swedish trade fairs, terms of payment, etc. It publishes a monthly review called Svensk Handel (trans. Swedish Trade). (3) The Swedish Export Council, also located at Storgatan 19, Stockholm, is jointly funded and operated by Swedish industries and the Government. It gathers and disseminates information on foreign markets, manages Sweden's export promotion program, provides technical data, etc. It was formed in 1972.

(4) The Stockholm Chamber of Commerce, because of its location in the capital, includes in its membership many of Sweden's prominent business enterprises. All major Swedish cities have local chambers of commerce, many of them engaged in promoting foreign trade.

(5) The Swedish Chamber of Commerce of the U.S.A. (with offices in New York) is devoted to increasing trade and improving commercial relations between Sweden and the United States. Its membership includes both Swedish and American companies. The Chamber is able to provide information on Swedish companies and products, and their exports to the United States. It is located at 1 Dag Hammerskjold Plaza, New York, N.Y. 10017 (telephone (212) 838-5530).

Publications

Swedish Government

Allman Maanads Statistik (Monthly Bulletin of General Statistics). Stockholm: Central Bureau of Statistics

Fact Sheets on Sweden. A series of informative profiles, in English, of various aspects of the Swedish economy, political system, educational system, social structure, etc. Available without charge from: Swedish Information Service, 825 Third Avenue, New York, N.Y. 10022.

Industri. Stockholm: Central Bureau of Statistics. Detailed annual production statistics. Includes number of establishments and employees and other industrial information. Maanadsstatistik over Utrikeshandeln (Monthly Trade Statistics). Stockholm: Central Bureau of Statistics.

Statistisk Aarsbok (Yearbook of Swedish Statistics). Stockholm: Central Bureau of Statistics. The Swedish Budget, A Summary. Stockholm: Ministry of Finance. Includes excellent summary of Swedish tax system, industrial policy, social security, etc. Annual, available in English.

The Swedish Economy. Stockholm: Ministry of Finance and the National Institute of Economic Research. A quarterly series with authoritative discussion of economic trends, available in English.

The Swedish Economy 1971-1975 and the General Outlook up to 1990-The 1970 Long-term Survey. Stockholm: Ministry of Finance. Detailed study with projections of trends in population, labor, industrial investment, productivity, etc. In English.

The Swedish Economy up to 1977. Stockholm: Ministry of Finance. Updates and corrects, in light of later information, The Swedish Economy 1971-75.

Utrikeshandel (Annual Trade Statistics). Stockholm: Central Bureau of Statistics.

Other

Economic Survey. Gothenburg: Gotabanken. Monthly review of major trends in Sweden. No charge.

Factu: Mediahandbok Annonstaxa. Stockholm: The Swedish Association of Business Press. Describes many Swedish magazines and advertising rates. Brief summary in English. Nordisk Handels Kalender. Copenhagen: Scan-Report A/C. Comprehensive directory by industry of firms in Sweden and other Nordic countries.

Quarterly Review. Stockholm: Skandinaviska Enskilda Banken. Review of economic trends and developments in Sweden.

The Scandinavian Market. Zurich: Nordfinanz-Bank. Excellent survey in English of Swedish and other Nordic markets. Available from Svenska Handelsbanken, Stockholm. Some Data About Sweden. Stockholm: Skandinaviska Enskilda Banken. Excellent, detailed presentation of Swedish economy, revised annually.

Sweden (Annual Economic Survey). Paris: Organization for Economic Co-operation and Development. May be obtained from OECD Publications Center, Suite 1207, 1750 Pennsylvania Avenue N.W., Washington, D.C. 20006 for $1.25.

Sweden Now. Stockholm: Industria-Press, Naringslivets Forslags A.B. Monthly magazine about Swedish economic, political, cultural affairs, in English.

Swedish Credit Market. Stockholm: The Swedish Bankers Association, 1971. Swedish Export Directory. Stockholm: Swedish Export Council. Lists main Swedish exporting manufacturers by type of product, with information about share capital, address, products manufactured, annual turnover, subsidiaries and provides much additional useful information. Most of these firms are also importers. In English, published annually.

Svensk Industri Kalender. Stockholm: Federation of Swedish Industries. Comprehensive directory of Swedish firms, giving information as to location, type of business, share capital, number of employees, annual turnover, subsidiaries, chief executives, etc. Issued annually.

Veckans Affarer. Stockholm: Veckans Affarer, Box 3188, 103 63 Stockholm 3. Excellent Swedish business weekly, focussing on current industrial and commercial developments in the Nordic area.

Department of Commerce Assistance to Exporters

The following Department of Commerce services can help you sell your products abroad. The Foreign Service of the U.S. Department of State cooperates with the U.S. Department of Commerce in providing the American business community with many of the services described herein:

U.S. Trade Centers. The Department of Commerce operates U.S. Trade Centers in Beirut, Buenos Aires, Frankfurt, London, Mexico City, Milan, Paris, Singapore, Stockholm, Sydney, Tehran, Tokyo, Vienna, Taipei and Seoul. These outlets, through scheduled promotions, can help U.S. firms test interest in their products, make direct sales, establish agencies and make other business arrangements. The Centers are available between Commercesponsored exhibitions to American firms and their agents for exhibitions or other marketing functions designed to promote the sale of their products.

Joint Export Establishment Promotions. — The Joint Export Establishment Promotion (JEEP) is a type of between show promotion involving tailored promotions undertaken on a

shared cost basis especially designed to help individual firms or small groups of U.S. manufacturers of related products penetrate new markets under a cooperative arrangement with Commerce.

International Exhibitions. - The Department of Commerce sponsors participation by groups of American firms in U.S. pavilions at selected international exhibitions. Commerce also sponsors solo exhibitions of American products when there are no suitable trade fairs available. These events and markets are searched in-depth for best sales opportunities and there is an intensive Commerce promotional campaign to solicit potential buyers.

Catalog Exhibitions. -Catalog exhibitions are special Commerce Department-sponsored displays of a number of American product catalogs, sales brochures and other graphic sales aids at U.S. Foreign Service posts or in conjunction with designated trade shows. These catalog shows are designed to help American firms test product interest in foreign markets, develop sales leads, and locate suitable agents and distributors.

Trade Missions.

The trade mission is another aid to help U.S. business develop export sales. The Department of Commerce sponsors two types of overseas trade missions. The first is the specialized trade mission which is planned and led by the Department where the optimal product theme and itinerary are determined on the basis of government research. The second type is the Industry Organized/Government Approved (IOGA) trade mission which is sponsored and recruited by State or private industry organizations; Commerce provides overall guidance and supervision, plus the services of an experienced advance officer.

Commerce

In-Store Promotions. sponsored In-Store Promotions are sales events held in retail establishments in selected foreign countries and are designed to promote the quality and variety of U.S.-made consumer products to foreign customers.

Technical Sales Seminars. - These seminars visit known markets for the purpose of exporting U.S. goods and services in conjunction with an interchange of technology covering the product catagories. A team consists of six to eight U.S. industry representatives who pay their own travel and expenses and who are supported by the Department of Commerce in the promotion, scheduling and advance preparation for the event.

-

Trade Opportunities Program (TOP). Up-to-the minute direct sales leads and representation opportunities from overseas are now available to interested U.S. companies through a computerized mail service. A U.S. company, as a subscriber to TOP, specifies the products and the countries for which it wants trade opportunities, and that information is put into the TOP computer. Trade opportunities telexed to Commerce from Foreign Service posts are matched by the computer against the subscriber's information specifications. When a match occurs, a printout notice of the opportunity is mailed to the subscriber. Cost of each notice is 50 cents, chargeable against the company's subscription which is available for as little as $25 for 50 sales leads. Information about TOP is available at Commerce District Offices.

Assistance to Business Travelers Overseas. Businessmen planning to travel overseas in search of agents or distributors qualified to handle their product lines, or to gain first hand knowledge of a country's business conditions, are encouraged to visit embassies and consulates to obtain advice and assistance from commercial officers and their local professional staffs. The Commerce Department sponsors a "Business Travel Announcement Service" to alert Foreign Service posts regarding projected itineraries and visitation objectives when such planning is submitted sufficiently in advance of scheduled departures to permit useful preparation work. Applications for this targeted special service should be filed with the nearest District Office at least two weeks before travelers leave the United States.

Publications. Supplementing a variety of direct counseling services by Commerce is a broad range of export-oriented publications which are listed in the "Checklist of International Business Publications." These include Overseas Business Reports which examine individual countries in terms of marketing factors and trade regulations, the Foreign Economic Trends series which covers over 100 country economies and their potential for U.S. exports, Foreign Market Reports monthly indexes, Commerce research, studies, Foreign Service prepared economic-commerical reports, and a wide variety of marketing intelligence from around the world. Global Market Surveys and Country Market Surveys, summarizing Commerce's market research findings, provide a detailed marketing picture for specific high export potential products in individual overseas markets. The flow of foreign market data is further augmented by the International Commerce section of the biweekly magazine Commerce Today. In addition to being available on an individual basis many publications can be obtained by subscription.

The Export-Import Bank of the United States (Eximbank) is an independent agency of the U.S. Government which works directly with American suppliers and private financial institutions to finance U.S. export sales. Eximbank has over 20 financing programs to assist U.S. firms. These include direct loans, bank guarantees, discount facilities, leasing guarantees and other programs to cover overseas design and engineering studies, construction operations, licensing technology, and agricultural export financing.

Financing packages for major industrial projects and exports of high value products are normally supported under Participation Financing, a combination of the Direct Loan and Financial Guarantee programs.

Direct Loans are dollar credits extended by Eximbank to borrowers outside of the United States for purchases of U.S. goods and services. Disbursements under the loan agreement are made in the United States to the suppliers of the goods and services, and the loans, plus interest, are repaid in dollars by the borrowers.

Eximbank will extend its Financial Guarantee to cover loans made by U.S. financial institutions to foreign government or private purchasers of U.S. goods and services. The Financial Guarantee will unconditionally guarantee repayment by a borrower of up to 100% of the outstanding principal due on such loans plus interest equal to the U.S. Treasury rate for similar maturities, plus 1% per annum on the out

standing balances of the loan. Comparable guarantees are available to non-U.S. financial institutions under somewhat different terms.

Participation by private financing institutions is required in any transaction seeking Eximbank direct lending. If requested by the private lender, Eximbank may extend its Financial Guarantee to assure repayment of the private party's portion of the total financing. Eximbank will often allow repayment of the private lender's portion of the loan first, which normally çarries a higher rate of interest, thereby reducing the effective interest cost to the borrower.

Of particular importance to U.S. businessmen is Eximbank's Cooperative Financing Facility program which supports medium-term financing in all major markets. Eligible overseas banks are extended a line of credit for half the funds needed for each transaction, presently at 6% interest, and the cooperating banks provide the other half at local market rates. These banks make credit judgments regarding the customer and can consummate transactions with a minimum of difficulty. Eximbank currently has established nearly 300 such working arrangements with foreign financial institutions (private and public) in over 100 countries.

Eximbank's Commercial Bank Exporter Guarantee program, another activity of special interest to exporters, provides guarantees covering the credit and political risks of nonpayment of medium-term (181 days to 5 years) export debt obligations purchased by U.S. banking institutions on a non-recourse basis from the exporters. The fee charged for Eximbank's guarantee depends upon (1) the classification accorded the country of import, (2) the length of the repayment terms, and (3) the financial condition of the overseas buyer.

As a general rule, all transactions supported by Eximbank must include a 10% cash payment by the buyer and must have reasonable assurance of repayment.

The Bank is directed by statute to supplement and encourage private capital, not compete with it. Selected product lines and services to designated markets are excluded from the agency's support; however, the overwhelming majority of U.S. export products and markets are covered. Details on the exceptions are available from U.S. commercial banks or directly from Eximbank.

Businesmen are specifically invited to utilize Eximbank's counseling services for exporters, banks, and financial institutions seeking financing for U.S. exports. The services include information on the availability of financing within the United States and abroad, as well as on each of the pertinent Eximbank programs.

For additional information, contact the Export-Import Bank of the United States, 811 Vermont Avenue, N.W., Washington, D.C. 20571, or Telex 89-461.

Export Insurance

U.S. exporters may obtain export credit insurance to protect their foreign receivables against commercial and political risks under policies issued by the Foreign Credit Insurance Association (FCIA), an association of 50 insurance companies, in cooperation with the Export-Import Bank, a U.S. Government

agency.

Short-term insurance, covering credit terms of up to 180 days is available on a whole turnover or adequate spread-of-risk basis; some sales, such as those made on a letter-of-credit basis or sales to Canada may be excluded. Medium-term insurance, covering terms of 181 days to 5 years, is usually issued on a case-bycase basis. Also available is a "Master" policy which provides for coverage of all the exporter's foreign sales, short and medium term, a firstloss deductible for commercial risks borne by the exporter, a substantial premium rate reduction and increased discretionary commitment authority for the exporter. Policies are also available to cover overseas dealers' "floor planning" arrangements and the export of services as opposed to products.

All policies are assignable to financial institutions to encourage non-recourse financing of the exporter's foreign receivables. Exporters may apply for these policies through a local insurance agent or broker, an FCIA member company or directly to FCIA in Atlanta, Chicago, Cleveland, Houston, Los Angeles, Milwaukee, New York, San Francisco, or Washington, D.C.

The cost of the insurance is dependent on the political and economic conditions of the buyer's country at the time the policy is issued and the length of terms granted. The coverage is usually 90% of the financed portion of the shipment.