ARGENTINA ARGENTINE REPUBLIC MSE 608 A CHANDRESH BHATI

ARGENTINA ARGENTINE REPUBLIC MSE 608 A CHANDRESH BHATI 9 th MARCH 2009

Demographics n Independence: 9 July 1816 (from Spain) n 23 Federation states and 1 Autonomous City (Buenos Aires) n 2 nd Largest in SA and 8 th Largest in world (Land Area) n Population: 40. 482 million (July 2008) n Life expectancy (2008) – total population: 76. 36 years – male: 73. 11 years – female: 79. 77 years

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

n Currency (code): Argentine peso (ARS) n Exchange rates: – 1 USD = 3. 64 ARS – 1 ARS = 0. 28 USD

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

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

Trade n 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% n 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%

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

Behavior n 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 n Don’t put your feet up on any furniture n Eating in the street or on public transportation is considered rude n 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 n 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 n A guest should always wait for the host to sit down before sitting, and to open the door for him before leaving

Communications n Handshaking common when meeting for the first time n Titles, especially among the elderly, are very important. n 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 n 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 n Bad conversation topics: religion, Falkland Islands conflict n

Business Dress n 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. n Dress well if you want to make a good impression.

Doing Business n Business Dinners n Personal relationships are important and must be developed before business is done n Contracts are lengthy and detailed. A contract is not final until all of its elements are signed. Any portion can be renegotiated. Get everything in writing (Uncertainty Avoidance) n Decisions are made at the top. Try to arrange meeting with high-level personnel n 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 n Confirm meetings one week in advance

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

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

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

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

Holidays in Argentina n Day of Memory for Truth and Justice: March 24 th n Flag Day: June 20 th n Malvinas Day: April 2 nd n 16 Public holidays in Argentina n Spring Day (Argentina): September 21 st n 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. Always the third Monday of the month. – Informal Holiday

THANK YOU