ARGENTINA

Four years ago, when Acme introduced our flagship Microwave Oven, part of the long term strategy for product development was to expand into extra-United States markets after our initial U.S. penetration was complete. We have currently infiltrated the market in the U.S., are considering expanding into other countries.

Having been charged with exploring the market potentialities of such an expansion into Cyprus, the following data is presented in this memo which will analyze this possible venture, with information and data in the following sections:

Section B: Associated region of the Country (Business)

Section E: Assessment of Trade (Ease/Difficulty)

Under each subhead, I will summarize in great detail, the benefits or risks to this possible venture in the realm of expanding our business.

Cyprus is located in the Middle East, an island in the Mediterranean Sea, just south of Turkey. The island can be compared to about 0.6 times the size of Connecticut.

The Cypriots are warm, friendly and naturally hospitable, and enjoy welcoming visitors (something it has been doing for thousands of years!). As the third largest island in the

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4 years 24% 92,626 88,127 15-64 years 65% 249,083 244,750 65 years and over 11% 34,612 44,866 The current population growth rate (based on the July 1999 est.) is at 0.67%. The percentage of the male to female population is 1 male(s)/female (CIA World Fact Book, 1999) The population consists of only a couple of ethnic groups: Greek 78% (of which 99.5% of the Greeks live in the Greek Cypriot area and 0.5% of the Greeks live in the Turkish Cypriot area); Turkish 18% (of which 1.3% of the Turks live in the Greek Cypriot area and 98.7% of the Turks live in the Turkish Cypriot area); other 4% (of which 99.2% of the other ethnic groups live in the Greek Cypriot area and 0.8% of the other ethnic groups live in the Turkish Cypriot area). Among the many languages spoken, there are Greek, Turkish, and English. There is no "official" language for Cyprus. The dialects are varied from area to area. Section D: Economic Data The division of the country dominates economic affairs. The southern (Greek) area is controlled by the Cyprus Government and the Turkish Cypriot-administered area is the northern area. The Greek Cypriot economy is prosperous but highly susceptible to ext

Category: Foreign - A