JOHNSON BERCE

DUE: OCTOBER 10,2013

Cultural and Economic Aspects of Doing Business in

(EGYPT)
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EGYPT: LOCATION
LATITUDE: ( 31.07N to 21.52N ) LONGITUDE: ( 25.31E to 35.36E )

SIZE:(1.001 million km)

GEOGRAPHY OF EGYPT; GOOGLE EARTH APPLICATION

NEIGHBORING COUNTRIES

LIBYA -Latitude ( 32.50N to19.25N)

-Longitude (9.25E to 25.05E) -Size: 1.76 million km

SUDAN
-Latitude ( 22.04N to 9.38N) -Longitude (21.56E to 36.06E) -Size: 2.506 million km

GEOGRAPHY OF EGYPT; GOOGLE EARTH APPLICATION

CULTURE
Making Appointments : In the business culture world of Egypt, punctuality is not as important. Cairo for example has one of the worst traffic jams in the world. No business Fridays. Business Dress: Though very hot, most body must be covered. Men should avoid jewelry around the neck. Women should be well covered, and have a shapeless appearance. Conversations: Egyptians tend to speak at a much closer distance

than we do in North America. If you back away they think you are cold or unfriendly. Gift Giving: Gifts should be given with the right hand not left a compass is a good gift. Business Cards: English printed on one side, Arabic on the other. Thumbs Up is offensive in the Egyptian World

GLOBAL EDGE/ EGYPT CULTURE

ECONOMY
World Bank ranked Egypt 94 out of 183 economies in 2011 The Egyptian economy relies heavily on tourism, oil and gas exports, and Suez Canal revenues. Tourism has been on the downfall because of current situations , and tourism makes up 6% of GDP one-third of Egyptian labor is engaged directly in farming Egypt's natural resources include petroleum, natural gas, phosphates, and iron ore Radio in Egypt is almost all government-controlled also controlled internet and cell phone usage during revolution in 2011.

CIA WORLD FACTBOOK, GLOBAL EDGE

TRADE POLICY
Products exported: Petroleum gases, crude oil, non-crude oil, nitrogenous fertilizers, copper wire, citrus fruit Export Partners : Italy, India, Netherlands, Spain, United States, Saudi Arabia, United Kingdom, Japan, France, and Turkey US is a big helper, allows Egypt to import without tariffs Signing of regional trade agreements has led to rising trade with neighboring Arab countries in the last decade Reduced its tariff rates on several imported items, including capital goods

CIA.GOV

GOVERNMENT/POLITICS

Egypts political party is republic based Egypts March 19, 2011 public revolution produced a temporary constitutional framework that empowers the SCAF (Supreme Council of the Armed Forces) to govern Egypt in the interim, with the goal of transferring power to a civilian government and drafting a new constitution in 2012 . Egypts parliament is made up of a 508 -seat Peoples Assembly Egypt is a key partner in the search for peace in the Middle East and resolution of the Israeli-Palestinian conflict

INTERNATIONAL JOURNAL OF URBAN & REGIONAL RESEARCH

ECONOMIC INTEGRATION

Egypt raises tariffs on luxury goods because of government struggles to reduce balance of payment deficit and raise state revenues -includes shrimp,caviar,chewing gum A 5-40% on custom tariffs will be on sunglasses, watches, nuts, and video games. 2% tariff will be used to manufacture baby milk formula
A 20% tariff is placed on equipment imported by tourists establishments, excluding automobiles Since 2013 the Egyptian pound lost 10% of its value

CQ RESEARCHER/ EGYPT AND INTEGRATION

CURRENT EVENTS

Egypt shut down the headquarters of the Muslim Brotherhood Freedom and Justice newspaper -Crushes Islamic movement The Obama Administration announced a suspension on military aid of millions of dollars, because of problems with the democratically elected president Mohamed Morsy Egypt to try former President Mohamed Morsy for inciting murder Dozens of Muslim Brotherhood supporters have been killed by Egyptian security forces, because even though the Islamist movement has fallen apart from power, their supporters are risking to lose everything.

ECONOMIST INTELLIGENCE UNIT EIU

CURRENT EVENTS

Egypt backfires at US for aid cut, allies are concerned saying that US left them when they needed them most Since the Military Government took control, Egyptian exports have declined substantially

Egypt halts tourism from Iran they are concerned with security issues

VIEWS WIRE/EGYPT/CNN