International Partnerships: A Step By Step Approach

Abstract

The globalization of the world economy has rapidly changed the way we live and do business. Communities are linked into a network of global relationships. The primary goal in establishing international partnerships with foreign communities is to create new employment opportunities and new taxable assessments for the local community. A partnership is essentially a grass-roots initiative and the driving force behind it, over the long-term, should be the community's residents. The ideal international partnership requires a combination of public and private support. Community involvement also helps to secure a long-term relationship. An international partnership requires considerable resources, such as, financing, time and staffing. A community wishing to become involved in such an initiative must ask itself how the program will be administered and how much staffing will be required. Identifying an appropriate partner is also important. Background research and exploratory visits are essential before devising an international partnership agreement and action plan. An international partnership entails certain expenses. Financial requirements and budgets need to be planned and calculated carefully. An international partnership is very costly, and municipalities should therefore assess its cost-effectiveness. Communities planning international partnership programs must realize that this process takes time and a considerable amount of preparation, or the international partnership process may fail.