Question

What regional economic arrangement does lebanon belong to?

Give us a summary of that article, and a link to it.

(b) How does that issue impact business in the country you studied?

(c) How does that issue impact the ease or difficulty for a foreign company to do business in that country?

Answer 1

a) Lebanon is a liberal developing economy. It comes in the upper middle income economy region. It mostly has private ownership contributing in its economy. The sectors dominating the economy are service and banking sectors. Agricultural sector also plays an important role in the growth of the economy.

Lebanon is in favour of free and open competition with free movement of goods and services and capital with its trading partners. It trades with a number of countries. Some of them are Austria, Canada, France, Germany and many other.

b) Having liberal economy and open trading agreements with other countries allows Lebanon to do business at an increasing rate. There is increase in employment, output because of this policy.

c) Signing of trade agreements between Lebanon and other countries allow the foreign countries to do trade with Lebanon with ease. There is free movement of goods, services and capital between Lebanon and its trading countries. Reduction of tariff rates and other restrictions makes trading even easier.