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REALLY USEFUL RESOURCES
for international trade professionals |
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Dear International Traders,
This week in Really Useful Resources you will:
• Learn about doing business in
Egypt
• Keep up to date with Chinese commercial law in English at LegalStudio
• Find out who is banned from doing business with the U.S. on the BIS Denied Persons List
We invite our subscribers to take a look at FITA Online's new website, GlobalTrade.net. Register (click on "Create profile" on the upper right corner of the home page) list your business and expertise and upload your content in the form of text, pdf files, PowerPoint presentations, videos and RSS feeds.
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 OUR FEATURED COUNTRY
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EGYPT
Re-Launching "Old" Businesses in "New" Egypt
About one week ago a delegation of fifty heads of major U.S. companies (Citi Group, Coca-Cola, Apache, Exxon Mobile ....) visited Egypt for talks with Prime Minister Essam Sharaf, Trade Minister Samir El-Sayyad and Finance Minister Samir Radwa to discuss new investment opportunities in a country that is experiencing profound political, economic and social upheaval and change. At these meetings, the Apache Group announced it would invest $1 billion in the Egyptian market, especially in the construction of oil wells.
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Cairo, business center |
The CEO of Citi Group, meanwhile, spoke of the immense investment opportunities in the banking sector. Another consequence of the democratic transition that took place in the country is a tremendous decrease in tourism, an industry vital to the Egyptian economy with 10% of GDP. There are many opportunities for private companies who want to help revive the sector.
The political revolution that took place in the country has created great uncertainty about the economy. Indeed, the country has a deficit of around 20 billion U.S. dollars. In a recent speech on the Middle East, President Obama announced several measures to support the Egyptian economy, including the conversion of $1 billion in Egyptian debt investments and loan guarantees of up to 1 billion dollars. Other countries and international organizations have also announced programs of loans and grants for investment programs in Egypt.
As part of its democratic transformation, Egypt must reset its economic priorities. However, funding reforms will be impossible without investment partnerships with foreign companies. The World Bank recently reported that, according to its forecasts, the Egyptian economy is expected to increase from 2012 and show a growth rate of around 5% in 2013. This is an additional argument in favor of investors who will, now, settle or relocate in the Egyptian market.
Connect with key Egyptian leaders including Ministers, business CEOs and entrepreneurs during the Egypt: Forward Forum on June 27-28 in Washington, DC . These senior level delegates will present projects and procurements that offer the best opportunities for U.S. firms in the energy, ICT, transportation, and agribusiness sectors. For more information and registration: www.iesc.org/egyptforward
For more information about the country:
• Business Today Egypt
• The US Commercial Service's Egypt Country Commercial Guide
• FITA's country profile of Egypt
To help you do business in Egypt:
• Egypreneur which includes the Egyptian entrepreneurs
• The site of the U.S. Embassy in Egypt
• American Chamber of Commerce in Egypt
• Global Trade "International Trade Channel" Egypt
And take a look at FITA’s country profiles for 90 countries.
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Sponsor
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 REALLY USEFUL SITES
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LegalStudio
Trade Safely with China
www.legalstudio.com/
Are you doing business in China? Do you need to understand the laws related to your business? LegalStudio is a comprehensive China law and case database with extensive know-how resources (articles, model contracts, drafting notes) in both Chinese and English. Over 50 major international and PRC law firms, certified public accountant firms, intellectual property agencies and commercial consultancy firms are contributors and editors to the service. Users include Global 500 multinational companies as well as medium and large PRC enterprises, intellectual property agencies, commercial consultancy firms and anybody else needing to understand Chinese commercial law.
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Denied Persons List
Make Sure you Know Your Business Partners
www.bis.doc.gov/dpl/default.shtm
How do I avoid doing my trade business with people or entities the US government has banned from commercial relations with the US? The Bureau of Industry and Security of the US Department of Commerce can help you recognize and avoid prohibited transactions. Have a look at the Denied Persons Lists.
If you would like to be notified by email whenever the Denied Persons List changes, subscribe to the BIS Email Notification Service. |
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EVENTS AND WEBINARS
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Assisted by:
the U.S. Commercial Service |
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SOME UPCOMING U.S. COMMERCIAL SERVICE EVENTS
• Doing Business in Turkey, Webinar, July 14; 11:00 AM EST
• Taking American SMEs Global With Google, Webinar, July 19; 10:00 am PST/1:00 pm EST
• Business Development Mission to Peru and Chile, August 21-27 Registration deadline is TOMORROW (June 24)!
• Executive-led Trade Mission to South Africa, September 19-23, 2011 Registration deadline is July 18!
• Renewable Energy Trade Mission to Turkey, Oct 23 – 29, Ankara, Istanbul and Izmir, Turkey
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Published by FITA Online, 172 Fifth Ave., #118, Brooklyn, NY 11217 USA.
Copyright © 2011 GlobalTrade SAS. All rights reserved.
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