1. ARGENTINA ARGENTINE REPUBLIC MSE608A CHANDRESH BHATI 9 th MARCH 2009

3. Demographics Independence:9 July 1816 (from Spain) Independence:9 July 1816 (from Spain) 23 Federation states and 1 Autonomous City (Buenos Aires) 23 Federation states and 1 Autonomous City (Buenos Aires) 2nd Largest in SA and 8th Largest in world (Land Area) 2nd Largest in SA and 8th Largest in world (Land Area) Population: 40.482million (July 2008) Population: 40.482million (July 2008) Life expectancy (2008) Life expectancy (2008) – total population: 76.36 years –male: 73.11 years –female: 79.77 years

4. Ethnic groups: Ethnic groups: –white (mostly Spanish and Italian) 97%, mestizo (mixed white and Amerindian ancestry), Amerindian, or other non-white groups 3% Religions: Religions: –Roman Catholic 92%, Protestant 2%, Jewish 2%, other 4% Languages: Languages: –Spanish (official), Italian, English, German, French Literacy: (2001 census) Literacy: (2001 census) –total population: 97.2% –male: 97.2% –female: 97.2%

5. Currency (code): Argentine peso (ARS) Currency (code): Argentine peso (ARS) Exchange rates: Exchange rates: –1 USD = 3.64 ARS –1 ARS = 0.28 USD

6. Time Summer Summer –4 hours ahead than US Winter Winter –6 hours ahead than US

7. Hofstede’s Analysis Power Index: High Power Index: High Individualism index: Low Individualism index: Low Uncertainty Avoidance: High Uncertainty Avoidance: High

8. Trade Exports: $73 billion (2008 est.) Exports: $73 billion (2008 est.) –Commodities: soybeans and derivatives, petroleum and gas, vehicles, corn, wheat –Partners: Brazil 19.1%, China 9.4%, US 7.9%, Chile 7.6% Imports: $59.9 billion (2008 est.) Imports: $59.9 billion (2008 est.) –Commodities: machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics –Partners: Brazil 34.6%, US 12.6%, China 12%, Germany 5%

9. Mercosur Full members Full members –Argentina –Brazil –Paraguay –Uruguay Becoming full members Becoming full members – Venezuela Associate members Associate members –Bolivia –Chile –Colombia –Ecuador –Peru Observers Observers –Mexico

10. Behavior Long meals and conversation is the norm. Crossing the knife and fork signal "I am finished". Never pour wine back-handed; it’s considered impolite. When dining, keep your hands on the table, not in your lap Long meals and conversation is the norm. Crossing the knife and fork signal "I am finished". Never pour wine back-handed; it’s considered impolite. When dining, keep your hands on the table, not in your lap Don’t put your feet up on any furniture Don’t put your feet up on any furniture Eating in the street or on public transportation is considered rude Eating in the street or on public transportation is considered rude Gifts to be avoided include personal items such as ties and shirts, leather, and knives. High taxes on imported liquor make this a highly appreciated gift; the most popular are scotch and French champagne Gifts to be avoided include personal items such as ties and shirts, leather, and knives. High taxes on imported liquor make this a highly appreciated gift; the most popular are scotch and French champagne If the visitor is entertained in the Argentine home, he/she should arrange to send flowers or candy to his hostess. Bird-of-paradise flowers are highly prized If the visitor is entertained in the Argentine home, he/she should arrange to send flowers or candy to his hostess. Bird-of-paradise flowers are highly prized A guest should always wait for the host to sit down before sitting, and to open the door for him before leaving A guest should always wait for the host to sit down before sitting, and to open the door for him before leaving

11. Communications Handshaking common when meeting for the first time Handshaking common when meeting for the first time Titles, especially among the elderly, are very important. Titles, especially among the elderly, are very important. Persons who do not have professional titles should be addressed as Mr., Mrs., or Miss, plus their surnames. In Spanish these are: Persons who do not have professional titles should be addressed as Mr., Mrs., or Miss, plus their surnames. In Spanish these are: –Mr. = Senor –Mrs. = Senora –Miss = Senorita Most Hispanics have two surnames: one from their father, which is listed first, followed by one from their mother. Only the father’s surname is used when addressing someone Most Hispanics have two surnames: one from their father, which is listed first, followed by one from their mother. Only the father’s surname is used when addressing someone Good conversation topics: soccer, history, culture, home and children, opera Good conversation topics: soccer, history, culture, home and children, opera Bad conversation topics: religion, Falkland Islands conflict Bad conversation topics: religion, Falkland Islands conflict

12. Business Dress Business attire is formal and conservative, yet stylish Business attire is formal and conservative, yet stylish –Men should wear dark colored, conservative business suits –Women should wear elegant business suits or dresses –Good quality accessories are important for both sexes. Dress well if you want to make a good impression. Dress well if you want to make a good impression.

13. Doing Business Business Dinners Business Dinners Personal relationships are important and must be developed before business is done Personal relationships are important and must be developed before business is done Contracts are lengthy and detailed. A contract is not final until all of its elements are signed. Any portion can be re- negotiated. Get everything in writing (Uncertainty Avoidance) Contracts are lengthy and detailed. A contract is not final until all of its elements are signed. Any portion can be re- negotiated. Get everything in writing (Uncertainty Avoidance) Decisions are made at the top. Try to arrange meeting with high-level personnel Decisions are made at the top. Try to arrange meeting with high-level personnel You should arrive on time for meetings, although the person you are meeting may not be punctual Argentines often need several meetings and extensive discussion to make deals You should arrive on time for meetings, although the person you are meeting may not be punctual Argentines often need several meetings and extensive discussion to make deals Confirm meetings one week in advance Confirm meetings one week in advance

14. Avoid confrontation Avoid confrontation Be alert for nuances and hidden meanings Be alert for nuances and hidden meanings If a favor is done for you, you will eventually be called upon to re-pay it If a favor is done for you, you will eventually be called upon to re-pay it Once a relationship has developed, their loyalty will be to you rather than to the company you represent Once a relationship has developed, their loyalty will be to you rather than to the company you represent They will judge you not only on what you say, but also on the way you present yourself They will judge you not only on what you say, but also on the way you present yourself

15. Negotiation Expect to deal with people of similar status Expect to deal with people of similar status Tough negotiators. Concessions will not come quickly or easily. Good relationships with counterparts will shorten negotiations Tough negotiators. Concessions will not come quickly or easily. Good relationships with counterparts will shorten negotiations Generally like to have a period of “small talk” before negotiating. Generally like to have a period of “small talk” before negotiating. Prefer to negotiate in person. Prefer to negotiate in person. Patience is important. Patience is important. Argentines have a difficult time disagreeing, so do not think that things are going well simply because no one is challenging what you say Argentines have a difficult time disagreeing, so do not think that things are going well simply because no one is challenging what you say

16. Cultural Notes Body language conveys a lot in Argentina Body language conveys a lot in Argentina Try and maintain eye contact even if it feels uncomfortable Try and maintain eye contact even if it feels uncomfortable Avoid placing your hands on your hips when speaking - this usually means you are angry Avoid placing your hands on your hips when speaking - this usually means you are angry It is good etiquette to cover your mouth when yawning or coughing It is good etiquette to cover your mouth when yawning or coughing If you see someone tapping their middle finger against the thumb this means 'hurry up'. If you see someone tapping their middle finger against the thumb this means 'hurry up'.

17. Business Card Etiquette Business cards are given without formal ritual Business cards are given without formal ritual Have one side of your business card translated into Spanish Have one side of your business card translated into Spanish Present your business card so the Spanish side faces the recipient. Present your business card so the Spanish side faces the recipient.

18. Holidays in Argentina Day of Memory for Truth and Justice: March 24 th Day of Memory for Truth and Justice: March 24 th Flag Day: June 20 th Flag Day: June 20 th Always the third Monday of the month. Malvinas Day: April 2 nd Malvinas Day: April 2 nd 16 Public holidays in Argentina 16 Public holidays in Argentina Spring Day (Argentina): September 21 st Spring Day (Argentina): September 21 st –Informal Holiday Note: If the date falls on a Tuesday or Wednesday, the holiday is the preceding Monday. If it falls on a Thursday or a Friday then the holiday is the following Monday. Note: If the date falls on a Tuesday or Wednesday, the holiday is the preceding Monday. If it falls on a Thursday or a Friday then the holiday is the following Monday.

19. THANK YOU THANK YOU