An Overview on the N10 Countries by Dragon Sourcing

Dragon Sourcing Your Tailored Approach to Emerging Markets

N10 Countries – An Overview

Dec, 2016 www.dragonsourcing.com

Table of Contents -

Executive Summary Overview

          -

South Korea Indonesia Mexico Turkey Philippines Vietnam Bangladesh Egypt Pakistan Nigeria

Dragon Sourcing – India Disclaimer

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Why N-10 Countries?

Where do I invest next?

What are the other options?

Where do I source next? What are the other options?

Which countries have foundation in place for future growth over the coming years?

International Investors

Which economies have grown significantly over the past few years?

N-10 Countries

Solution

  Why N10 countries ?

Procurement Professionals

 

N10 countries are front runners of the new global economy due their growth trends Many of these countries have huge, young, and increasingly educated and wealthy populations, meaning their consumption potential is enormous and growing all the time.

These countries are comparatively stabile politically and socially, plus they have relatively robust legal, financial and regulatory systems in place.

Indeed, they display all the key characteristics that BRICs did a decade ago; characteristics which empowered the bloc’s phenomenal rise into a global economic superpower. And those who now invest sensibly in the N-10 countries could benefit as those who previously invested in the BRICs did.

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N10 Countries

Russia

Turkey

Egypt Mexico

Pakistan India

South Korea

China Bangladesh

Philippines Vietnam

Nigeria

Indonesia Brazil

BRIC Countries N10 Countries Š 2016 Dragon Sourcing. All rights reserved.

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Executive Summary – N10 Countries Country

Total Exports in 2015 (USD billons)

South Korea

526.900

Indonesia

150.282

Mexico

380.749

Turkey

143.850

Philippines

58.648

Vietnam

186.842

Bangladesh

35.873

Egypt

21.967

Pakistan

22.089

Nigeria

53.805

Top Importers

China, USA, Hong Kong, Vietnam, Japan Japan, USA, China, Singapore, India USA, Canada, China, Brazil, Colombia Germany, UK, Iraq, Italy, USA Japan, USA, China, Hong Kong, Singapore USA, China, Japan, South Korea, Hong Kong USA, Germany, UK, France, Spain Italy, Saudi Arabia, India, Turkey, USA USA, China, Afghanistan, UK, Germany India, Netherlands, Spain, Brazil, France

Global GDP Country Population Macroeconomic Competitiveness (USD Rank (millions) Environment Index billions) N10 Countries

Labor Domestic Business market Market sophistication efficiency Size

5.0/7

26/138

50.6

1,376.9

6.6/7

4.1/7

5.3/7

4.9/7

4.5/7

41/138

255.5

859.0

5.5/7

3.8/7

5.7/7

4.3/7

4.4 /7

51/138

127.0

1,144.3

5.0/7

3.8/7

5.5/7

4.2/7

4.4/7

55/138

77.7

733.6

4.9/7

3.4/7

5.3/7

4.0/7

4.4/7

57/138

102.2

292.0

5.9/7

4.0/7

4.7/7

4.1/7

4.3/7

60/138

91.7

191.5

4.3/7

3.9/7

2.6/7

3.7/7

3.8/7

106/138

159.9

205.7

4.8/7

3.6/7

4.6/7

3.5/7

3.7/7

115/138

88.4

330.8

2.7/7

3.2/7

5.1/7

3.7/7

3.5/7

122/138

186.2

270.0

3.8/7

3.3/7

4.9/7

3.7/7

3.4/7

127/138

178.7

490.2

4.0/7

4.5/7

5.0/7

3.6/7

BRIC Countries China

2,281.855

India

264.381

Russia

343.907

Brazil

191.126

USA, Hong Kong, Japan, South Korea, Germany USA, UAE, Hong Kong, China, UK Netherlands, China, Italy, Germany, Japan China, USA, Argentina, Netherlands, Germany

5.0/7

28/138

1,374.6

10,982.8

6.2/7

4.5/7

7.0/7

4.4/7

4.5/7

39/138

1,292.7

2,090.7

4.5/7

4.1/7

6.4/7

4.4/7

4.5/7

43/138

146.3

1,324.7

4.3/7

4.4/7

5.8/7

3.8/7

4.1/7

81/138

204.5

1,772.6

3.5/7

3.7/7

5.8/7

4.0/7

Note: The indicators were obtained from World Economic Forum, assessing the competitiveness landscape of 138 economies Š 2016 Dragon Sourcing. All rights reserved.

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Interpreting Country Scores Macroeconomic Environment



Business sophistication



Calculated based on the cooperation in laboremployer relations, flexibility of wage determination, hiring and firing practices, redundancy costs, effect of taxation on incentives to work, pay and productivity, reliance on professional management, country capacity to attract and retain talent, female participation in the labor force.



The size of the domestic market is calculated as the natural log of the sum of the gross domestic product valued at PPP plus the total value (PPP estimates) of imports of goods and services, minus the total value (PPP estimates) of exports of goods and services.



This is calculated based on the local supplier quantity & quality, State of cluster development, Nature of competitive advantage, Value chain breadth, Control of international distribution, Production process sophistication, Extent of marketing, Willingness to delegate authority.



1=worst, 7=best



1=worst, 7=best



1=worst, 7=best



1=worst, 7=best



Among the 138 economies,  High Score: 6.84 (Norway)  Minimum Score: 2.00 (Yemen)  Median Score: 5.33



Among the 138 economies,  High Score: 5.95 (Switzerland)  Minimum Score: 2.75 (Venezuela)  Median Score: 3.96



Among the 138 economies,  High Score: 7.00 (China)  Minimum Score: 1.00 (Gambia)  Median Score: 1.64



Among the 138 economies,  High Score: 5.86 (Switzerland)  Minimum Score: 2.80 (Mauritania)  Median Score: 3.50



Data are then normalized on a 1–7 scale

Domestic Market Size

Calculated based on the government budget balance (% GDP), gross national savings (% GDP), inflation, government debt (% GDP) and country credit rating The stability of the macroeconomic environment is important for business and, therefore, is significant for the overall competitiveness of a country

Factors considered

Scale

Labor market efficiency

Source: World Economic Forum © 2016 Dragon Sourcing. All rights reserved.

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

South Korea, Indonesia, Mexico, Turkey, Philippines, Vietnam, Bangladesh, Egypt, Pakistan, Nigeria

N10 Countries – An Overview

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South Korea

Population: 50.6 millions GDP: USD 1,376.9 billions

Economy Overview

Trade Statistics



Annual GDP Growth (%) 2015 2.6

  

2016 (E)

2017 (E)

2.8

3.1

Total FDI in 2015: USD 5.042 billion EU, China, USA and Japan are the major investors Metallurgical and automobile sectors attracts more FDI Country Indicators Global Competitiveness Index Score

Score/ Value 5.0/7

 

Trade Agreement

Total exports (2015): USD 526.900 billion Major Import markets: China, USA, Hong Kong, Vietnam, Japan Trade Balance (2015): USD 90.353 billion Top Export Categories

HS code

Electrical machinery and equipment

85

Vehicles other than railway or tramway

87

Industrial Machinery

84

Ships, boats and floating structures

89

Mineral Fuels

27

Macroeconomic environment Score

6.6/7

Optical, photographic, medical/ surgical instruments

90

Labor Market Efficiency Score

4.1/7

Plastics & Plastic Products

39

Domestic market size index

5.3/7

Iron and Steel

72

Organic Chemicals

29

Iron & steel products

73

Business Sophistication Score

4.0/7

Country

Agreement Arrangements

United States America

US-Korea Free Trade Agreement (UKFTA)

European Union

EU-South Korea Free Trade Agreement came into force completely on December, 2015

Major Industrial Zone Locations

Seoul

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, businesskorea.co.kr, dipp.nic.in © 2016 Dragon Sourcing. All rights reserved.

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Indonesia

Population: 255.5 millions GDP: USD 859 billions

Economy Overview

Trade Statistics



Annual GDP Growth (%)

 

2015

2016 (E)

2017 (E)



4.8

5.1

5.3



In 2015, about 55% of the total FDI (USD 15.508 billion) was in Java region.

Main invested sectors: Mining (16.4%), Food industry (11%), Transport, storage and communications (10.5%).

Country Indicators

Score/ Value

Trade Agreement

Total exports (2015): USD 150.282 billion Major Import markets: Japan, USA, China, Singapore and India Trade Balance (2015): USD 7.587 billion Top Export Categories

HS code

Mineral Fuels

27

Animal or vegetable fats and oils

15

Electrical machinery and equipment

85

Rubber & rubber articles

40

Precious Metals

71

Vehicles other than railway or tramway

87

Industrial Machinery

84

Footwear

64

Global Competitiveness Index Score

4.5/7

Macroeconomic environment Score

5.5/7

Labor Market Efficiency Score

3.8/7

Domestic market size index

5.7/7

Wood & wood articles

44

Business Sophistication Score

4.3/7

Apparels & Products (Not Knitted/Woven)

62

Agreement Arrangements

Country United States America

Indonesia is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Indonesia benefits from EU’s Standard GSP (Generalized Scheme of Preferences)

Major Industrial Zone Locations

Jakarta

Note: Score reading: 1-7 (best) Source: worldbank.org, oecd.org, adb.org, indonesia-investments.com, unctad.org, ustr.gov, trade.ec.europa.eu © 2016 Dragon Sourcing. All rights reserved.

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Mexico

Population: 127.0 millions GDP: USD 1,144.3 billions

Economy Overview

Trade Statistics



Annual GDP Growth (%)

 

2015

2016 (E)

2017 (E)



2.5

2.5

2.8



About USD 30.284 billion was invested in Mexico in 2015, of which around 53% was by the US. Top sectors receiving FDI: Automobile, financial services, telecommunication.

Country Indicators Global Competitiveness Index Score

Score/ Value 4.4/7

Trade Agreement

Total exports (2015): USD 380.749 billion Major Import markets: USA, Canada, China, Brazil and Colombia Trade Balance (2015): USD (-)14.482 billion Top Export Categories

HS code

Vehicles other than railway or tramway

87

Electrical machinery and equipment

85

Industrial Machinery

84

Mineral Fuels

27

Optical, photographic, medical/ surgical instruments

90

Furniture

94

Plastics & Plastic Products

39

Precious Metals

71

Macroeconomic environment Score

5.0/7

Labor Market Efficiency Score

3.8/7

Domestic market size index

5.57

Iron & Steel Products

73

Business Sophistication Score

4.2/7

Edible vegetables and certain roots and tubers

07

Country

Agreement Arrangements

United States America

Trade agreement with the US: NAFTA (North American Free Trade Agreement)

European Union

EU-Mexico Global Agreement.

Negotiations to modernize their trade agreement began in June 2016.

Major Industrial Zone Locations

Mexico City

Note: Score reading: 1-7 (best) Source: worldbank.org, fas.org, ec.europa.eu, unctad.org, country.eiu.com, ampip.org.mx © 2016 Dragon Sourcing. All rights reserved.

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Turkey

Population: 77.7 millions GDP: USD 733.6 billions

Economy Overview

Trade Statistics



Annual GDP Growth (%)

 

2015

2016 (E)

2017 (E)



4.0

3.5

3.5



Total FDI invested in 2015: USD 16.899 billion.

The majority of FDI inflows to Turkey come from Europe, North America, and the Gulf countries.

Country Indicators Global Competitiveness Index Score

Score/ Value 4.4/7

Trade Agreement

Total exports (2015): USD 143.850 billion Major Import markets: Germany, UK, Iraq, Italy and USA Trade Balance (2015): USD (-)63.356 billion Top Export Categories

HS code

Vehicles other than railway or tramway

87

Industrial Machinery

84

Precious Metals

71

Apparels & Products (Knitted/Non-Woven)

61

Electrical machinery and equipment

85

Macroeconomic environment Score

4.9/7

Iron and Steel

72

Labor Market Efficiency Score

3.4/7

Apparels & Products (Not Knitted/Woven)

62

Domestic market size index

5.3/7

Iron & steel products

73

Business Sophistication Score

4.0/7

Plastics & Plastic Products

39

Mineral Fuels

27

Agreement Arrangements

Country United States America

Turkey is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Turkey is member of the Euro-Mediterranean partnership (Euromed)

Major Industrial Zone Locations

Ankara

Note: Score reading: 1-7 (best) Source: worldbank.org, oecd.org, ustr.gov, ec.europa.eu, invest.gov.tr, unctad.org, invest.gov.tr © 2016 Dragon Sourcing. All rights reserved.

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Philippines

Population: 102.2 millions GDP: USD 292 billions

Economy Overview



 

A

Trade Statistics



Annual GDP Growth (%) 2015

2016 (E)

2017 (E)



5.8

6.5

6.2



Total FDI in 2015: USD 5.724 billion Japan and the US are the major investors, while inflows are concentrated in the manufacturing and the finance industry.

Country Indicators Global Competitiveness Index Score

Score/ Value 4.4/7

Trade Agreement

Total exports (2015): USD 58.648 billion Major Import markets: Japan, USA, China, Hong Kong, Singapore Trade Balance (2015): USD (-)11.505 billion Top Export Categories

HS code

Electrical machinery and equipment

85

Industrial Machinery

84

Wood & wood articles

44

Optical, photographic, medical/ surgical instruments

90

Ores, slag and ash

26

Ships, boats and floating structures

89

Vehicles other than railway or tramway

87

Macroeconomic environment Score

5.9/7

Labor Market Efficiency Score

4.0/7

Animal or vegetable fats & oils

15

Domestic market size index

4.7/7

Apparels & Products (Knitted/Non-Woven)

61

Business Sophistication Score

4.1/7

Copper and copper products

74

Country

Agreement Arrangements

United States America

Philippines is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Benefits from EU’s Special Incentive Arrangement for Sustainable Development & Good Governance, ('GSP+')

Major Industrial Zone Locations

Manila

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, investphilippines.gov.ph, aseanbriefing.com © 2016 Dragon Sourcing. All rights reserved.

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Vietnam

Population: 91.7 millions GDP: USD 191.5 billions

Economy Overview



A

6.7





Annual GDP Growth (%) 2015

 

Trade Statistics

2016 (E)

2017 (E)

6.1

6.3

Total FDI in 2015: USD 11.800 billion Major cities within Vietnam such as Hanoi and Ho Chi Minh City attracts major investments.

Attractive sector: Manufacturing Country Indicators Global Competitiveness Index Score

Score/ Value 4.3/7

 

Trade Agreement

Total exports (2014): USD 150.217 billion Major Import markets: USA, China, Japan, South Korea, Hong Kong Trade Balance (2014): USD 2.378 billion Top Export Categories

HS code

Electrical machinery and equipment

85

Footwear

64

Industrial Machinery

84

Apparels & Products (Not Knitted/Woven)

62

Apparels & Products (Knitted/Non-Woven)

61

Furniture

94

Fish and crustaceans

03

Mineral Fuel

27

Macroeconomic environment Score

4.3/7

Labor Market Efficiency Score

3.9/7

Domestic market size index

2.6/7

Coffee, tea, maté and spices

09

Business Sophistication Score

3.7/7

Leather Products

42

Country

Agreement Arrangements

United States America

US - Vietnam Bilateral Trade Agreement

European Union

Vietnam benefits from EU’s Standard GSP (Generalized Scheme of Preferences)

Major Industrial Zone Locations

Hanoi

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, ec.europa.eu, vietnam-briefing.com, business-in-asia.com © 2016 Dragon Sourcing. All rights reserved.

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Bangladesh

Population: 159.9 millions GDP: USD 205.7 billions

Economy Overview



 

A

Trade Statistics



Annual GDP Growth (%) 2015

2016 (E)

2017 (E)



6.5

6.3

6.8



Total FDI in 2015: USD 2.235 billion Textile and wearing and power, gas & petroleum sectors have received highest FDI.

Country Indicators

Score/ Value

Global Competitiveness Index Score

3.8/7

Macroeconomic environment Score

4.8/7

Labor Market Efficiency Score

3.6/7

Domestic market size index

4.6/7

Business Sophistication Score

3.5/7

Trade Agreement

Total exports (2015): USD 35.873 billion Major Import markets: USA, China, Japan, South Korea, Hong Kong Trade Balance (2015): USD (-)3.872 billion Top Export Categories

HS code

Apparels & Products (Not Knitted/Woven)

62

Apparels & Products (Knitted/Non-Woven)

61

Made-up Textile Products

63

Footwear

64

Paper yarn, woven fabric

53

Fish and crustaceans

03

Raw hides and skin

41

Headgear

65

Leather Products

42

Tobacco

24

Country

Agreement Arrangements

United States America

Trade and Investment Cooperation Forum Agreement (TICFA)

European Union

Bangladesh benefits from EU’s special - Everything But Arms (EBA) trade arrangement.

Major Industrial Zone Locations

Dhaka

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, worldstopexports.com, bb.org.bd, beza.gov.bd © 2016 Dragon Sourcing. All rights reserved.

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Egypt

Population: 91.7 millions GDP: USD 191.5 billions

Economy Overview



  

A

Trade Statistics



Annual GDP Growth (%) 2015

2016 (E)

2017 (E)



4.2

3.3

4.2



Total FDI in 2015: USD 6.885 billion Oil sector attracts about 70% of the total FDI UK, USA and UAE are the major investors.

Country Indicators Global Competitiveness Index Score

Score/ Value 4.3/7

Trade Agreement

Total exports (2015): USD 21.967 billion Major Import markets: Italy, Saudi Arabia, India, Turkey, USA Trade Balance (2015): USD (-)52.393 billion Top Export Categories

HS code

Mineral Fuel

27

Electrical machinery and equipment

85

Edible fruit and nuts

08

Plastics & Plastic Products

39

Apparels & Products (Not Knitted/Woven)

62

Agreement Arrangements

United States America

Egypt is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Egypt is one of the partners of the EuroMediterranean Partnership (Euromed)

Major Industrial Zone Locations

Cairo

4.3/7

Edible vegetables, roots, tubers

07

Labor Market Efficiency Score

3.9/7

Apparels & Products (Knitted/Non-Woven)

61

Domestic market size index

2.6/7

Precious Metals

71

Business Sophistication Score

3.7/7

Salt

25

Fertilizers

31

Macroeconomic environment Score

Country

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, ustr.gov, qizegypt.gov.eg, tpegypt.gov.eg © 2016 Dragon Sourcing. All rights reserved.

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Pakistan

Population: 186.2 millions GDP: USD 270 billions

Economy Overview



  

Trade Statistics



Annual GDP Growth (%)

A

2015

2016 (E)

2017 (E)

4.2

4.5

4.8

FDI inflows to Pakistan increased by 31% to USD 1.7 billion as a result of rising Chinese FDI flows in services.

Oil & Gas sector attracts more FDI Lately, USA and Saudi Arabia has been withdrawing its investments.

Country Indicators

Score/ Value

Global Competitiveness Index Score

3.5/7

Macroeconomic environment Score

3.8/7

Labor Market Efficiency Score

3.3/7

Domestic market size index

4.9/7

Business Sophistication Score

3.7/7

 

Trade Agreement

Total exports (2015): USD 22.089 billion Major Import markets: USA, China, Afghanistan, UK, Germany Trade Balance (2015): USD (-)21.900 billion Top Export Categories

HS code

Cotton

52

Made-up Textile Products

63

Apparels & Products (Knitted/Non-Woven)

61

Apparels & Products (Not Knitted/Woven)

62

Cereals

10

Leather Products

42

Salt

25

Raw hides and skins

41

Edible fruit and nuts

08

Optical, photographic, medical/ surgical instruments

90

Country

Agreement Arrangements

United States America

Pakistan is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Benefits from EU’s Special Incentive Arrangement for Sustainable Development &Good Governance, ('GSP+')

Major Industrial Zone Locations

Islamabad

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, boi.gov.pk, ustr.gov © 2016 Dragon Sourcing. All rights reserved.

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Nigeria

Population: 178.7 millions GDP: USD 490.2 billions

Economy Overview



 

A

Trade Statistics



Annual GDP Growth (%) 2015

2016 (E)

2017 (E)



2.7

0.9

3.5



Total FDI in 2015: USD 3.064 billion Many programmes has been introduced to boost FDI, notably in agriculture, exploitation and mining, oil and gas extraction, and in the export sectors.

Country Indicators Global Competitiveness Index Score Macroeconomic environment Score

Score/ Value 3.4/7

4.0/7

Trade Agreement

Total exports (2015): USD 53.805 billion Major Import markets: India, Netherlands, Spain, Brazil, France Trade Balance (2015): USD 13.163 billion Top Export Categories

HS code

Mineral Fuel

27

Cocoa & cocoa products

18

Wood & wood articles

44

Oil seeds

12

Raw hides and skin

41

Aircraft, spacecraft

88

Aluminium & aluminium products

76

Copper & copper products

74

Labor Market Efficiency Score

4.5/7

Ores, slag and ash

26

Domestic market size index

5.0/7

Fish and crustaceans

03

Business Sophistication Score

3.6/7

Agreement Arrangements

Country United States America

Nigeria is USA’s GSP (Generalized Scheme of Preferences) ‐ Eligible Beneficiary

European Union

Nigeria benefits from EU’s Standard GSP (Generalized Scheme of Preferences)

Major Industrial Zone Locations

Abuja

Note: Score reading: 1-7 (best) Source: worldbank.org, unctad.org, trade.ec.europa.eu, allafrica.com, guardian.ng © 2016 Dragon Sourcing. All rights reserved.

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Our clients are medium to large size corporations across a wide range of industries Food & Beverage

Industrial Products

Construction

DIY Government

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Our clients are medium to large size corporations across a wide range of industries Retail

Automotive

Consumer Goods

Pharma / Medical

Heavy Machinery

Energy/Chemicals Service

Packaging

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We can cover global emerging markets through our owned offices and our network of procurement sub-contractors

Brussels

London Paris Porto

Graz

Novosibirsk

Riga Warsaw Prague Kiev Budapest

Rome Ljubljana Bucharest Madrid Milan Istanbul Tel Aviv

Houston

Shanghai Dammam

Myanmar

Mumbai

Mexico City

Hong Kong Cambodia Bangkok

Manila Ho Chi Min City

Lagos Addis Ababa Nairobi

Kuala Lumpur

Jakarta

Sao Paulo

Johannesburg

Santiago Buenos Aires

Melbourne

Buying offices Sales offices Geographies covered by DS network of procurement subcontractors

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Dragon Sourcing Contact Information EUROPEAN Offices Dragon Sourcing Paris 50 rue Marcel Dassault 92100 Boulogne-Billancourt, France Tel: +33 (0)1 46 10 36 70 Fax: +33 (0)1 46 10 41 14 Email: contact.europe@dragonsourcing.com Dragon Sourcing London Communications House, 26 York Street, London, W1U 6PZ, UK Tel: +44 (0)844 736 1432 Fax: +44 (0)844 736 1430 Email: contact.uk@dragonsourcing.com Dragon Sourcing Munich Georgenstrasse 81, 80798 Munich, Germany Tel: +49 (0)89 23 515 721 Email: contact.germany@dragonsourcing.com Dragon Sourcing Turkey Deluxia Palace, Barbaros Mh. Sümbül Sk. No: 5 A-Blok Ataşehir – Istanbul, Turkey Tel: +91 0554 754 51 07 Email: contact.turkey@dragonsourcing.com

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DRAGON SOURCING – HEADQUARTERS Dragon Sourcing Hong Kong 7/F Hong Kong Trade Centre 161-7 Des Voeux Rd Central, Hong Kong SAR Tel: +852 91 80 40 57 Fax: +852 25 80 24 26 Email: contact.asia@dragonsourcing.com

NORTH AMERICAN Offices Dragon Sourcing Phoenix 1490 S. Price Road, Suite 209-D Chandler, AZ 85286, USA Phone: (216) 533-8972 Fax: (216) 785-2051 Email: contact.us@dragonsourcing.com Dragon Sourcing Detroit 1255 Beach Court Saline, MI, 48176 Phone: 1-877-800-6703 Email: contact.us@dragonsourcing.com

LATIN AMERICAN Offices Dragon Sourcing Brazil Vinte e Nove de Janeiro, 17 Vila Jequitibás 13026-300 Campinas, Sao Paulo Brazil Mobile: + 55 (19)8246-2655 Email: contact.brazil@dragonsourcing.com Dragon Sourcing Mexico Guadalajara, Mexico Phone: +1 (520) 463-5426 Email: contact.mexico@dragonsourcing.com

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ASIAN Offices Dragon Sourcing Shanghai Suite 1502-1503, Jin Tian Di International Mansions 998, Renmin Road – Shanghai, 200021, P.R.China Tel: +86 21 61 41 39 55 Fax: +86 21 61 41 39 66 Email: contact.asia@dragonsourcing.com Dragon Sourcing Vietnam C1A Cu Xa Tan Cang, Dien Bien Phu Street, Ward 25, Binh Thanh District, HCM City, Vietnam Tel: +84 8 35129390 Fax: +84 8 35129391 Email: contact.asia@dragonsourcing.com Dragon Sourcing Israel C 101 Regency Gardens, 1 Ramat Yam Street Herzlia Pituach 46851, Israel Mobile: +972 54 420 34 80 Fax: +972 9 955 71 60 Email: contact.israel@dragonsourcing.com Dragon Sourcing India 1502, Sorrento, Veera Desai Road, Andheri West Mumbai 400053 – India Mobile: + 91 9867602535 Email: contact.india@dragonsourcing.com