Remediation technology and education on best practices offer opportunities for U.S. firms to help address these problems. This advantage holds true even where English is neither the first nor the second language in the country. However, because this is a region in which environmental awareness and regulations have been relatively slower to develop than in the U.S. and Europe, firms must take the entry strategy that this is a long-term market requiring a sustained commitment. Developing market intelligence, securing solid funding, competitively bidding on tenders, and educating clients and local citizens regarding the complex social costs and health implications of environmental neglect all require a serious and long-term approach. While these have not included specific environmental requirements, they increase the likelihood that countries in the region may eventually adopt European standards as they enhance their environmental protection regimes.
Personal relationships are crucial to success in business in the region.
These relationships take time to cultivate. In this respect, a local partner can be extremely helpful in providing the right contacts and proper bona fides from the outset. Whether seeking to develop a distribution network, to establish a wholly-owned branch or locally registered subsidiary, or to locate an agent or a joint venture partner, it is essential to select the right local associate, affiliation or corporate presence. The local counterpart must be credible, honest, open in communication, well connected, and well managed internally. A thorough background check should be conducted to ensure that the prospective partner meets these requirements.