This is Nikolai Pankraz with American Resource
Network for Expert Village. I want to take that extra time for this and I’m just saying
that because of the twenty years experience in international business and international
trade, thirty something countries, I’ve been all over the globe, and so I want to emphasize
that to you because I want you to succeed in what you’re doing. One of the things by
dealing with Eastern Europe countries, China, etcetera, etcetera, some of the more developed
countries, you’ve got to watch for a few things, like for example, banking. Just a few years
ago there was a huge banking crash in the former Soviet Union where people just literally
lost millions, millions of people. A friend of mine, he lost over three hundred million
dollars on that alone. Well, things have changed, but I want you to keep that in mind, so when
we get to the letters of credit and how to work with letters of credits and make your
shipments safe, you need to remember the banking situation, because a few years ago, well actually
about ten years ago, fifteen years ago, people in the former Soviet Union, Russia, actually
they split up in fifty different countries, they could open the bank with just twenty-five
thousand dollars. Well, in our country that’s unimaginable.