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Transcript of Business
Percentage of population: 83,688,164
Major religions and languages:
Religions: Muslim (mostly Sunni) 90%, Coptic 9%, Christian 1%.
Languages: Arabic is the official language. However, English and French are widely understood
by educated classes.
Major economic events in recent history:
On January 25th, 2011, the biggest revolution Egypt had ever seen in a very long time took place.
Life expectancy: 73.2 years.
Oil, gas, iron ore, phosphate, limestone, manganese, talc, zinc, asbestos,
gypsum, bees of Egypt (are known for their production of wax and honey), and the Nile.
Literacy rate: 72%
Climate/ weather conditions:
• Egypt is commonly known for its hot/warm climate. There are only two seasons in Egypt;
winter and summer.
The summer season in Egypt lasts from May to October. The average maximum temperature
in the summer is 37 C. Temperatures also vary widely in the inland desert areas especially in
summer, when they may range from 7 C at night to 43 C during the day.
The winter season lasts from April to January. The average minimum temperature in the winter
is 14 C. During winter, temperatures in the desert fluctuate less dramatically, but they can be as
low as 0 C at night and as high as 18 C during the day. Legal Information How are laws made?
In Egypt, a bill is passed through the parliament and state legislatures with three readings. The members of parliament vote upon the bill several times, and then the president eventually signs the bill in order for it to become an official law.
Who enforces the laws, and any signs of corruption?
The laws are mainly enforced by the police and the government. Corruption is a major issue in Egypt. It reeks in the political system as well as the law enforcement sector.
Child labour laws:
The minimum age for employment is 15 years.
Children are not allowed to work more than six hours per day, requiring at least an hour break per day.
Children are not allowed working overtime on holidays, for more than four consecutive hours.
The law prohibits forced labour as well.
Laws on investments or trade:
There are two laws regarding investments or trades made in Egypt:
1. The Companies Law No. 159 of 1981.
2. The Investment Guarantee and Incentives Law No.8 of 1997.
Role and rights of women in society:
Women rights have always been regarded as an important factor in the development of Egyptian society. Women are treated as equal members of society. And, in an effort to promote women’s role in modern Egyptian society, Egypt’s parliament recently passed a law allocating a quota of 64 seats in the lower house to women. In the Egyptian society, women are given full rights to whatever they choose to do. However, they are still considered as the main caregivers. Women are becoming very well educated, thus allowing them to work in higher positions. International Information Membership in international organizations:
Egypt is a member of 67 international organizations.
Some of them are: United Nations, the Arab League, World Trade Organization, World Health Organization, and International Monetary Fund, in addition to many more organizations.
The Convention of Biodiversity, the United Nations framework convention on climate change, the Climate Change-Kyoto Protocol (which is also associated with the United Nations), the United Nations convention to combat desertification, the Convention on International Trade in Endangered Species, Marine Dumping, Ship pollution, and the Ozone Layer Protection.
Gazan breaches in the security wall with Egypt in January 2008 highlight difficulties in monitoring the Sinai border.
Saudi Arabia claims Egyptian-administered islands of Tiran and Sanafir.
Egypt no longer shows its administration of the Bir Tawil trapezoid in Sudan on its maps
Foreign relations with other countries:
Egypt has a lot of strong foreign relations with different countries, like the United
States, Australia and Canada. Infrastructure Analysis Political information Egypt experienced a revolution in 2011-2012
The revolution started off as a non-violent series of civil demonstrations.
The resolution concluded with the overthrow of the former President Hosni Mubarak.
The Political system type is a Republic with a Parliamentary form government
How the military works:
The military in Egypt is called the Egyptian Armed Forces.
The role of the Egyptian Armed forces is to provide support for the Egyptian community Economic Information Egypt's economy is a mixed economy.
GDP per Capita $6,500 (US Dollars).
Major Imports and Importing partners: US, China, Germany, Italy, Kuwait, Turkey, and Saudi Arabia.
Major imports: machinery and equipment, foodstuffs, chemicals, wood products, and fuels.
Major exports include: crude oil and petroleum products, cotton, textiles, metal products, chemicals and processed food.
Major exporting partners: Italy, India, Saudi Arabia, US, Turkey, Spain , and France. Infrastructure is developed only in new cities
Capital city's infrastructure was developed, but with the increasing population, it is now underdeveloped.
The capital city, Cairo, could be overwhelming to foreigners. Cultural Information Languages spoken: Arabic, English, and French
Refrain from traditional native clothing
Standard attire for men: trousers and shirt, jacket and tie.
Standard attire for women: well covered, shapeless appearance (keep scarf on hand) Alcohol is forbidden
Invited to home : take sweets (pastries, baked goods, chocolates)
Flowers only really used at weddings and funerals
Gifts are given with the right hand and are not opened upon recieved
Handshakes between members of the same sex See what woman do first: if she does not shake hand, a slight nod of head is fine
Kiss on one cheek and then other while shaking hands once a relationship is developed, only with same sex.
Hierarchical nature; status is always an issue.
Most Egyptians should be addressed by title followed by surname - if no clear title, use Mr. or Mrs. Main attractions 1. Pyramids of Giza
2. Nile River
4. Camel rides
5. Egyptian Antiquities Museum Competitive Advantages Canada will have improved market access for Canadian exporters through the elimination of tariffs and other trade barriers.
Enhanced trade and investment opportunities across a wide range of sectors.
Advertisements would need to be translated into Arabic or into English
Pork, Alcoholic products and sex focused products would not sell. Canadian And Egyptian trade Canada’s main exports to Egypt are iron and steel, ores, cereals, grain/fruit, paper/paperboard, vegetables, aircraft, machinery, mineral fuel & oil, dairy products and wood
Canada imported mainly stones & metals and fertilizers, textile floor covering, knit apparel, mineral fuel, woven apparel and preserved food
Total monetary amount of trade done between Egypt and Canada is, 454.07 million Jordan and Canadian Trade Jordan imports vegetables, wood and articles of wood, vehicles, and paper and paperboard all the way from Canada
Egypt receives mainly beverages and mineral fuel from Jordan
The totally bilateral relations are 18.7 million. Recommendations and Conclusion Although Egypt is one of the most beautiful countries, it is not the best country to conduct business at, especially at this time. Egypt has been through a lot of political issues lately; with the biggest revolution it has faced in a very long time, the January 25th revolution, and many more political issues. If you have a good business plan, you might be able to run a business there; however, it is not the safest place to be conducting businesses at, at least at this time. There are many signs of corruption in the political system, as well as many environmental issues. The climate is very hard to adapt to, and the crowd could be quite overwhelming to some foreigners.
With all pros and cons being mentioned, in the end, you can decide on whether or not you would like to invest in Egypt. Conducting Business