Importance Of MENA

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The Importance of MENA markets and Networking Food Manufacturing Industry of Thailand
Nowadays, the economy of Middle East and North Africa (MENA) nations have exceed US$ 3,415 billion, which accounted for 4.4% of the global economy, and is nine-times bigger that the economy of Thailand. Among all MENA members, Saudi Arabia is the biggest party accounting for 21.9% of the market share with the economy of US$ 746 billion. The second biggest partner, Iran also has no less than US$ 419 billion economic transaction, sharing 12.2% of all MENA, followed by the United Arab Emirates (UAE) whose economy worth US$ 339 billion, sharing 11.7% of MENA value.
Among Thailand’s new market, MENA is one of many trade blocs that offer the best potential for
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Many high purchasing power population condense in the Gulf Cooperation Council (GCC) states, making them the real driving force for the region’s economy. Despite their small population of only 50 mullion or only 12% of the whole population of MENA, these countries has bigger share of the regions economy - 48%. The GCC average GDP per capita in 2014 is US$ 33,142 - higher than MENA average GDP of US$ 7,761. The highest country with income per capita in MENA are Qatar, Kuwait and …show more content…
In the aspect of food export, Jordan, Lebanon and Syria are the only three countries that export food more than 20% of its total exports. The Middle East is considered one of the most risky region for food security, and it is a great opportunity for Thai entrepreneurs to expand their businesses into this region.
By considering variables in a study to develop food manufacturing industry network in MENA consisting of market attractiveness and political risks to classify location mode, we can classify countries into 3 modes as follow;
Group 1 Investment Worthy Country: UAE is the one and only country that offers variables alluring trade and investment, with high market attractiveness, and low political risks both from internal and external terrorism factors. In order to develop a manufacturing network in Group 1 country, Rogman (2011) recommended that every strategy can be applied for investment and investors should treat the target country as home market.
Group 2 Investment Worthy Country, But Need to Manage Risk: There are seven countries in the group, five countries in the Middle East; Saudi Arabia, Iran, Kuwait, Qatar, Oman, and two countries in North Africa; Egypt and Morocco. The countries in this group can be divided into 3 subgroups as

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