At the crossroads of Europe, Asia, and Africa, the Middle East and North America (MENA) is a diverse mix of modern and traditional societies, which use advanced sophisticated technology and biblical methods side by side. The region is a cradle of civilization and the birthplace of the world's great monotheistic religions. However, despite general awareness of the area's long and rich history, many in the West are unfamiliar with particular customs and methods of conducting business, many of which are intimately tied to past traditions. Yet, while trying to keep their traditions, MENA countries are at last beginning to fully embrace free-market principles.

These evolving regional changes create many opportunities for outside businesses. But capturing these opportunities is challenging and can be frustrating when one does not understand or appreciate the expectations, behaviors and attitudes of potential business partners.
Therefore, in order to develop and sustain effective business relationships, it is important to understand how those free market principles have been and are being adopted in the local context. A basic understanding of local customs and of the services and guidance of specialist trade organizations with a thorough knowledge of the region can be invaluable.

Economic overview of the Arab world: a time of change and expansion

MENA countries are a mix of modern developed free- market economies, older "command" style systems, and variations in between. There is great demand for imported industrial goods, ranging from small handheld consumer items and household appliances to larger industrial equipment for development projects. The region has more than 320 million consumers, of whom 60% are under the age of 25. To address the social, political and economic pressures that arise from such a young population, countries in the region are embracing the global economy, joining the World Trade Organization, signing international trade agreements, and embarking on ambitious projects to diversify their economies.

The United States has encouraged and benefited from progressive economic programs in the region by, for example, signing free trade agreements (FTAs) with Bahrain, Jordan and Morocco. The United States is working on FTAs with Egypt, Oman and the United Arab Emirates. Arab countries once viewed by the United States as adversaries, such as Libya, are now normalizing diplomatic relations and are starting to become strong economic partners with the United States. The European Union is engaged in similar efforts in the region. Collectively, regional purchasing power is strong, especially among the petroleum exporting nations that obviously benefit from higher oil prices. There is a preference for US brands; in 2005, the United States alone exported $36 billion of goods and services to the region, according to U.S.-Arab Tradeline (September-October 2005). There is also an increase in demand for American educational, medical and language translation services.

Read more...

If you've tried to learn and speak another language besides your mother tongue, you know how complex communication is. As cross-border business transactions are booming and as it becomes a business imperative to embrace the diversity of the US population, we invite you to be prepared and avoid the rush involved with selecting a vendor for your foreign languages needs.

Get to know us and our work!

At MTM LinguaSoft, we enable global development by solving multilingual challenges. Our services include business and technical document translation, website and e-learning globalization.

We enable business to grow in any language. As a turn-key language services provider, you can focus on your core competencies. No more pre-qualification of separate vendors, no more problems with managing consistency across materials in several languages. You save money, time and worry!

Our clients choose us because we deliver on our promises:

• Accurate and culturally appropriate content in any language and any format for web and print publishing,
• Convenience and quality of execution,
• Commitment to customer service and satisfaction,
• State-of-the-art translation and localization practices.

Please confirm your subscription to our mailing list by visiting here...