Middle East
Bahrain
The Kingdom of Bahrain is an Arabian island country located off the west coast of the Persian Gulf in the Middle East. Bahrain is made up of 33 islands, over about 760 sq.kms, with close to 1,569 million inhabitants, for a GDP of US$37,74 billion (source : World Bank, 2018).
With highly developed communication and transportation facilities, Bahrain hosts many multinationals operating in the region, primarily via the development of financial services. Bahrain has the laxest tax regulations in the Persian Gulf. The building sector, which features numerous projects, is another driving force of activity.
Trade between France and Bahrain is traditionally subject to wide variations, being marked by regular aeronautic orders/deliveries from Bahraini players in the field of aviation. Imports into France consist mainly of refined petroleum and aluminium. The development of France’s economic potential remains closely linked to the participation of French players in major infrastructure projects in Bahrain (source : France diplomatie, july 2019).
In order to meet the needs of its customers on the Bahraini market, Simon Associés has developed privileged relations with economic and legal partners locally.
Iran
The Islamic Republic of Iran, located in southwestern Asia, whose surface area covers 1 648 000 sq.kms, with 81 inhabitants and a GDP nudging US$377 billion. Iran is the second largest economy in the Middle East and North Africa region (source: Tresor, 2016).
Iran is the world’s third largest producer of natural gas (with the world’s second largest reserves) and has the fourth largest oil reserves. The country is trying to diversify by investing in new sectors, including auto production, aerospace, petrochemicals and nuclear technology in a bid to attract foreign investment.
Imports from Iran to France reached €40 million, while exports in the other direction amounted to €490 million.
In order to meet the needs of its customers on the Iranian market, Simon Associés has developed privileged relations with economic and legal partners locally.
Jordan
Jordan is a country in Western Asia. It is surrounded by Palestine and Israel to the west, along the Jordan River and the Dead Sea, Saudi Arabia to the south, Iraq to the east and Syria to the north, with access to the Gulf of Aqaba on the Red Sea. Jordan covers 88,794 square kilometres and has a population of 10 million with a GDP of 40 billion dollars.
Bilateral trade between France and the Hashemite Kingdom of Jordan reached 127.1 MEUR in the first half of 2018. This trade remains largely in favour of France, with a surplus of MEUR 100.6, but down by 16.6% compared to 2017. This lacklustre performance is explained in particular by the 16.7 MEUR drop in our exports (-12.8%) in 2018. Conversely, Jordanian exports to France increased (+33.6%) by MEUR 3.3.
Although the Jordanian economy is primarily based on the tertiary and secondary sectors, the country owes its GDP primarily to industrial production (exploitation of raw resources, cement works, oil refineries). Infrastructures, however, play a major role within Jordan, due to the intersection of two major traffic routes. The booming tourism industry should not be neglected in such a study, attracting assets and business activities.
Jordan is one of the few countries in the Middle East that is not so dependent on its natural resources due to the scarcity of hydrocarbon and water resources. Nevertheless, it is also one of the countries most committed to financial reforms in its region (privatisation, tax reforms, opening of the banking sector, etc.).
In order to best meet the needs of its clients in the Jordanian market, Simon Associés has developed relationships with renowned economic and legal partners in the country.
Kuwait
The state of Kuwait is located in the Middle East, on the northen side of the Arabian Peninsula, in the Persian Gulf. Kuwait is an area of 17,818 km², with Saudi Arabia to the south and Iraq both north and west. The country has a population of 4.6 million people and a GDP of $141 billion at the end of 2018 (source: IMF, Ministry of Economy and Finance, 2017).
The Kuwaiti economy is mainly based on its oil production, (the 9th largest oil producer in the world with 2.7 million barrels per day and the 7th world reserve), and on the hydrocarbon sector for which it is the 5th largest reserve in the world. The country economic performance is also influenced by services and the real estate sector (source: Direction Générale, Trésor, UNDP).
The main export and import market for Kuwait is Asia, with China beeing at the same time its main customer and supplier. France also has a significant position on the Kuwaiti market, in particular in aeronautics, through the sales of aircrafts and spacecrafts. France has something like twenty companies based in Kuwait, working in sevral different areas such as textiles, chemicals, perfumes and cosmetics, industrial and agricultural machinery as well as agri-food products (source: France Diplomatie, Trésor, Direction Générale).
In order to perfectly meet its customers’ needs on the Kuwaiti market, Simon Associés has developed privileged relations with economic and legal partners locally.
Lebanon
Lebanon is located on the eastern shore of the Mediterranean. It covers an area of 10,452 km², an area roughly equal to that of the Gironde department, the largest French department. Its capital is Beirut, located in the centre of the country’s west coast. Lebanon has nearly 6.8 million inhabitants and a GDP of $52 billion in 2019.
French exports to Lebanon reached €381m in 2020. This is a decrease of 179 M€ (-32%) compared to 2019 and 367 M€ (-49%) compared to 2018. In the medium term, this decrease reaches 72% compared to 2012 (the highest year in the bilateral trade relationship when exports reached €1.35bn). The sectors driving Lebanese growth are mainly banking, which is experiencing record profits, real estate and construction, and tourism.
During the 1990s, Lebanon experienced growth supported by an active network of SMEs, by the tourism and finance sectors, but also by aid and foreign investments. GDP per capita has also been increasing during this period. Lebanon is experiencing an increasing number of tourists.
In order to best meet the needs of its clients in the Lebanese market, Simon Associés has developed relationships with renowned economic and legal partners in Lebanon.
Oman
The Sultanate of Oman is located to the south of the Arabian Peninsula and is bordered by the United Arab Emirates to the north, Saudi Arabia to the west, Yemen to the southwest, the Arabian Sea to the southeast, and the Gulf of Oman to the northeast. It has a total area of 312 460 sqkm, a population of 4.4 million, for a GDP of US$63.2 billion (source: FMI, 2016).
Over 65% of Oman’s GDP comes from the oil sector. Tourism (in the region of Muscat and Salalah) and agriculture (around the city of Sohar, hometown of Sinbad the Sailor) complete the economic landscape of the Sultanate. The tourism sector is developing rapidly and takes the form of major infrastructure projects. As a result, the number of tourists is growing steadily year after year. Amenity and infrastructure projects are also developing in the field of transport and industry, with Oman paying particular attention to the diversification of its economy.
In order to meet the needs of its customers on the Omani market, Simon Associés has developed privileged relations with economic and legal partners locally.
Qatar
The State of Qatar is an emirate in the Middle East covering an area of 11,586 km², located on a peninsula extending into the Persian Gulf and connected to the Arabian Peninsula to the South, where it shares a land border with Saudi Arabia. Qatar has a population of 2.7 million inhabitants, with a GDP of 192.5 billion dollars, in 2018 (source : IMF, World Bank, 2018).
The Qatari economy is based on oil production, but mainly on its natural gas reserves (3rd largest producer in the world). By investing in the development of significant liquification capacities, the Emirate was able to build on its position as the world’s leading exporter of liquid natural gas (LNG) from early 2006 (source: Direction Generale, Tresor).
Behind the United Kingdom, Germany and the United States, France is one of the main destinations of Qatari investors abroad. French companies are well represented in the Emirate precisely in the following areas: new technologies, energy, infrastructure, and the environment. French industrials are also present in Qatar in the defence, transport, aeronautics and pollution control sectors (source: France Diplomatie).
In order to meet the needs of its customers on the Qatari market, Simon Associés has developed privileged relations with economic and legal partners locally.
United Arab Emirates
The United Arab Emirates covers 82,880 sq.kms. This country is bordered by the Sultanate of Oman to the east as well as by Saudi Arabia to the southwest. It has nearly 10,4 million inhabitants and has a GDP of US$455.59 billion (source: FMI – DGT – BM, 2019).
The United Arab Emirates is the second largest economy among the Gulf countries behind Saudi Arabia thanks to the world’s 7th largest gas reserves, allowing the country to become the 17th biggest gas producer. The UAE economy ranks among the most diversified in the Middle East.
For a number of years now, the United Arab Emirates has been an exceptional business partner for French companies and has emerged as the country’s main outlet in the Middle East in recent years. French exports have tripled in the space of ten years and now stabilized, despite a particularly competitive market.
In order to meet the needs of its customers on the UAE market, Simon Associés has developed privileged relations with economic and legal partners locally.
