Overview

• Jurisdiction: Civil law
• Language: Portuguese

• 2018 Global Competitiveness Index: 134th position among the 140 countries evaluated in the competitiveness report)
• 2020 Index of Economic Freedom: 54.2 points in a rise of 14 places, which places the country in the 140th position out of 180
• 2020 Corruption Perceptions Index: 142/180, rose 25 positions and improved the score on this index
• 2020 UN Development Programme Human Development Index: 148th out of 189 HDI countries

Angola is a country on the west coast of Africa, with a territory that includes tropical Atlantic beaches, extending through southern Africa and bordering Namibia, Botswana, Zambia and the Democratic Republic of Congo. Most of its major cities, including the capital Luanda, are on the west coast of the South Atlantic.

The Portuguese have been present since the 15th century in some parts of what is now the territory of Angola, interacting mainly with the native inhabitants on the coast. Angola was a Portuguese colony that only covered the country's current territory in the 19th century and the effective occupation, as determined by the Berlin conference in 1884, only in the 1920s.

The country has vast natural resources, such as large reserves of minerals and oil, and since 1990 its economy has shown growth rates that are among the highest in the world, in particular after the end of the civil war. Until the 1970s, Angola's economy was predominantly agricultural, with coffee as its main crop. The Angolan economy is currently driven by the oil sector, which represents around 50% of GDP, accounting for more than 70% of government revenue and corresponding to over 90% of the country's exports.

Angola is a unitary dominant party presidential-style government, headed by a President and accompanied by a Vice President.

• Jurisdiction: Common Law
• Language: English

• 2022 IMD World Competitiveness Yearbook: 19 of 63 (up 3 rankings from 22 in 2021)

• 2019 World Economic Forum’s Global Competitiveness Report: 16 of 141 (down 2 rankings from 14 in 2018)

• 2022 Index of Economic Freedom: 12 of 177 (down 9 rankings from 3 in 2021)

• 2021 Corruption Perceptions Index: 18 of 180 (down 7 rankings from 11 in 2020)

• 2020 UN Development Programme Human Development Index: 8 of 188 (down 2 rankings from 6 in 2019)

Australia was inhabited by Indigenous persons for thousands of years before the British established a colony in New South Wales in 1788. Australia's six States formed a federation in 1901. The governance model was (and remains) largely a fusion of US federalism and a UK system of governance. Since World War Two, Australia has been an ally of the United States but now finds its economic security in Asia. Countries like China, Japan and India have fuelled Australia's resources boom, which saw it largely avoid the global financial crisis.

Australia’s GDP was USD1.54 trillion in 2021 according to the World Bank. The International Monetary Fund has forecasted that Australia’s GDP will grow 2.2% in 2023. The Australian public sector debt ratio is forecasted to be 43% of the GDP by the end of 2022, which is well below the 89% average forecast for advanced economies.

• Jurisdiction: Civil Law (to be noted that Austria is a federal state, which entails that the legislative competence is divided between the federation (Bund) and the nine federal states (Länder))
• Language: German (In addition, the minority languages Croatian, Slovenian and Hungarian are official languages in some border regions of Austria.)

• 2019 Global Competitiveness Index: 21 of 141 (up 1 rank)

• 2021 Index of Economic Freedom: 25 of 178 (up 4 rankings)

• 2020 Corruption Perceptions Index: 15 of 176 (down 3 rankings)

• 2020 UN Development Programme Human Development Index: 18 of 189 (no change)

The Republic of Austria (Austria) is a neutral country located on the Eastern Alps in Central Europe. It is composed of nine federal states, one of which is Vienna, Austria's capital.

As a member of the European Union since 1995, the country adopted the Euro as its currency in 1999. The country's president is Alexander Van der Bellen, a Green Party member running as an independent. Chancellor Karl Nehammer's conservative People's Party formed a coalition government with the Green Party and is currently running Austria's government.

Austria has large services and industrial sectors and a small, highly developed agricultural sector. Challenges include assimilation of migrants and strains on labour markets and public finances caused by the aging of the population.

• Jurisdiction: Civil law
• Language: French, Dutch and German

• 2019 Global Competitiveness Index: 22 of 140
• 2021 Index of Economic Freedom: 37 of 178
• 2020 Corruption Perceptions Index: 15 of 179
• 2020 UN Development Programme Human Development Index: 14 of 189 

Belgium is a federal parliamentary democracy with a constitutional monarchy. It has a civil law system which is based on the French Civil Code.  

Belgium's political system is a federal system comprising a federal government level, as well as three regions (Flanders, Wallonia and the Brussels-Capital Region, with mostly economical competences) and three communities (the Flemish Community, the Wallonia-Brussels Community (formerly the French-speaking community) and the German-speaking community, with cultural and language linked competences such as education). The governments on each of these levels have certain responsibilities.  

The Belgian economy is dominated by industry and the tertiary sector. Agriculture only accounts for a limited part of the GDP. 

• Jurisdiction: Brazil
• Language: Portuguese

• 2022 Index of Economic Freedom: 133 of 177
• 2021 Corruption Perceptions Index: 96 of 180 
• 2020 UN Development Programme Human Development Index: 84 of 189
• 2022 World Competitiveness Index: 59 of 63

Brazil is a country in South America, bordering the Atlantic Ocean. It has a continental territory and a diversity of geographies and climates that vary from north to south. In the 1980s, together with the promulgation of the current Federal Constitution, a liberalization of the economy took place – the basis for the current open and free-market economic configuration.

Brazil is a republican and unitary state, with presidential elections every 4 years. The country is the largest economy in Latin America and one of the world’s largest engines of economic growth (it is expected to become the fifth-largest economy on the planet by 2050).

Brazil's economy is very diversified and one of the largest consumer markets in the world, with a highly productive agriculture sector, a broad and sophisticated industrial base, one of the most solid and prudently regulated financial sectors in the G20, and the largest stock market in Latin America. 

It has abundant natural resources, including those that generate energy. Foreign investment plays a crucial role in helping the country work to achieve sustainable growth and development; for foreign investors, Brazil is among the most sought-after markets. According to UNCTAD’s World Investment Report 2022, Brazil saw foreign direct investment inflows of USD50 billion, being ranked 6th in the countries with the highest FDI inflow in 2021.

• Jurisdiction: Common Law; Civil Law (Quebec only)
• Language: English and French; Indigenous languages 

• 2019 Global Competiveness Index: 14 of 140 
• 2021 Index of Economic Freedom: 9 of 180 
• 2020 Corruption Perceptions Index: 11 of 180 
• 2020 UN Development Programme Human Development index: 16 of 189 

Canada is a country in North America. It contains ten provinces and three territories and is the world’s second largest country by total area.

In the 16th century, British and French expeditions led to colonization of a land that was continuously inhabited by Indigenous peoples. In 1763, France ceded nearly all of its colonies in North America to Great Britain and Spain. In 1867, the union of four British North American colonies formed Canada as a federal dominion of four provinces through confederation. An accretion of provinces and territories occurred next.

The Canadian economy operates as an open and free market. Canada is a parliamentary democracy and a constitutional monarchy (sharing a monarch with the United Kingdom) with parliamentary elections held every four to five years. Canada is a federal state, with the federal parliament having responsibility for matters of national and international importance and the provinces having responsibility for local matters.

• Jurisdiction: Civil law
• Language: Spanish

• 2022 Index of Economic Freedom: 20 of 177

• 2021 Corruption Perceptions Index: 27 of 180

• 2020 UN Development Programme Human Development Index: 43 of 189

• 2022 World Competitiveness Index: 45 of 63

Chile is a country located in South America, bordering the Pacific Ocean. Geographically, it has a continental, an insular and an Antarctic territory and, due to its great length, it has a diversity of climates that vary from north to south.

In the 1980s, together with the promulgation of the current Constitution, a liberalization of the economy took place, which was the basis for the current open and free market economy configuration.

Mining is the key pillar of the economy, with agriculture, fishing and manufacturing industries also playing a relevant role. Chile is a republican and unitary state, with presidential elections every 4 years.

• Jurisdiction: Civil Law
• Language: French

22.7 million as the date of May 15, 2014. 

(In late November 2021, the government of Côte d’Ivoire initiated the fifth general census of the country. But the outcomes of this recent census have yet to be published)

• 2019 Global Competitiveness Index: 118 out of 140 (down 4 rankings)

• 2022 Index of Economic Freedom: 76 out of 177

• 2021 Corruption Perceptions Index: 105 out of 180 (no change)

• 2020 UN Development Programme Human Development Index: 162 out of 189 (no change)

Côte d'Ivoire is a country in West Africa bordered by the Gulf of Guinea. It is bordered to the north by Mali and Burkina Faso, to the east by Ghana, to the south by the Gulf of Guinea, to the southwest by Liberia, and to the northwest by Guinea. The country covers an area of 322,463 km² and has a population of 22,671,331 inhabitants (in 2015). The government conducted a census in late November 2021, the results of which have yet to be published. The political and administrative capital is Yamoussoukro, whereas the largest city and economic capital is Abidjan. The official language is French and the currency is the CFA franc (XOF). The country is a member of the Economic Community of West African States (ECOWAS) and West African Economic and Monetary Union (WAEMU).

Initially a French protectorate in 1843 and a French colony in 1893, the country gained independence on August 7, 1960, under the leadership of Felix Houphouet-Boigny, the first President of the Republic. Following independence in 1960, cocoa and cashew exports made Côte d’Ivoire West Africa’s second-largest economy. Pro-business reforms and strong private investment in areas like agriculture, agribusiness, mining, light manufacturing, housing, and services have driven robust economic growth in recent years. Côte d’Ivoire joined the Asian Infrastructure Investment Bank in 2019.

• Jurisdiction: Continental Law
• Language: Czech, Slovak¹

• 2019 Global Competitiveness Index: 32 of 141

• 2021 Index of Economic Freedom: 27 of 178

• 2020 Corruption Perceptions Index: 49 of 180

• 2020 UN Development Programme Human Development Index: 27 of 189

The Czech Republic is located in the heart of Europe. It is also known as Czechia. It is bordered by Austria, Germany, Poland and the Slovak Republic. 

History

In 1918, the independent Republic of Czechoslovakia was established. Between 1938 and 1945 the Czech Republic was occupied by Germany. After the end of World War II, in 1946 the Communist Party became the leading party in Czechoslovakia. Unfortunately, the state was not independent for the next 41 years. 

Human rights were restricted until November 1989, when the Velvet Revolution took place. The Slovak nation separated in 1993 and since then, two independent democratic states were created: the Czech Republic and the Slovak Republic. 

There are elections every four years to the Chamber of Deputies and every two years one-third of senators is elected. In 2004, the Czech Republic acceded to the EU. The Czech Republic is also a member of NATO (1999), the United Nations (1945 as Czechoslovakia), OECD (1995), WTO (1995), IMF (1990) and many other international organizations.

• Jurisdiction: Civil law
• Language: Danish (English is widely used for business purposes)

• 2021 Global Competitiveness Index: 3 of 64 (down 1 ranking)

• 2020 Index of Economic Freedom: 10 of 180 (no change)

• 2020 Corruption Perceptions Index: 1 of 176 (no change)

• 2020 UN Development Programme Human Development Index: 10 of 189 (up 5 rankings)

The Kingdom of Denmark is situated as the interconnection between Continental Europe and Scandinavia and comprises one peninsula, Jutland, and a large number of islands of which Zealand, where the capital Copenhagen is situated, is the largest. The Kingdom of Denmark also comprises the Faroe Islands situated in the Atlantic Ocean and Greenland.

Denmark is a constitutional monarchy with parliamentary elections minimum every four years. Currently, Denmark is governed by a social democratic government, but power generally shifts between conservative/liberal governments and social democratic governments. Generally, the transition of power from one government to another does not adversely affect the green energy industry as all major political parties in Denmark are very positive towards a quick transition to a green economy.

The Danish economy is a small open economy, and Denmark is generally deemed among the best countries in the world to do business in. The official currency in Denmark is Danish Kroner but the Danish Kroner is pegged to the euro and in general there is no currency exchange risk vis-à-vis the euro.

• Jurisdiction: Civil Law
• Language: French

• 2018 Global Competitiveness Index: 15 of 138 (plus 2 rankings)

• 2020 Index of Economic Freedom: 64 of 180 (no change)

• 2020 Corruption Perceptions Index: 23 of 176 (no change)

• 2020 UN Development Programme Human Development Index: 26 of 189 (no change)

France comprises a mainland area located in western continental Europe, plus the island of Corsica in the Mediterranean Sea and several overseas territories in North and South America, the Indian Ocean and the Pacific Ocean. Covering a total of 543,965 km², mainland France is the largest country in the European Union.

France is a semi-presidential republic with a head of government - the prime minister - appointed by the president who is the directly elected head of state. The president is elected for a five-year term and can serve for two consecutive terms if re-elected. The legislative power is in the hands of the French Senate (348 senators) and the National Assembly (577 deputies).

France plays an influential global role as a permanent member of the United Nations Security Council, NATO, the G-7, the G-20, the EU, as well as other multilateral organizations. 

The French economy is diversified across all sectors. Many large companies were partially or fully privatized. However, the state maintains a strong presence in some sectors, particularly energy, public transport, and defence.

Key industrial sectors in France are mechanical industries (including metallurgy and the manufacture of metal products, machinery, and equipment), agri-food industries, automotive, chemical industry, aeronautics and pharmaceutical.

Tourism accounted for 7.4% of GDP in 2018. France is ranked as the most visited country in the world with 91 million foreign visitors in 2019.

• Jurisdiction: Common Law
• Language: English 

Of the over 50 indigenous languages spoken in Ghana, some of the most widely used languages include:

• Akan
• Ga/Dangme
• Ewe
• Dagbani
• Nzema
• Daagare/Waale
• Kasem
• Gonja

• 2021 TI Corruption Perceptions Index: 43 points ranking 73 of 180 (down from 75 in 2020)

• 2021 Global Innovation Index: 22.3 ranking 112 of 132

• 2022 Index of economic freedom for Ghana: 60 of 100 (an increase of 0.8 from 59.2 in 2021)

• 2020 UN Human Development Index: 0.611 of 185 (this is an increase of 31.4 percent from 0.465)

The Republic of Ghana is located in West Africa. It spans the Gulf of Guinea and the Atlantic Ocean to the south, sharing borders with Côte d’Ivoire in the west, Burkina Faso in the north, and Togo in the east. Formerly known as the Gold Coast, Ghana gained independence on 6th March 1957. 

The country has a democratic system of government with the current President being His Excellency, Nana Akuffo-Addo who won a re-election in December 2020 as the flagbearer of the New Patriotic Party (NPP). Ghana has a youthful population with the average life expectancy at birth of 61 years. Ghana has a rich diversity of ethnic groups. Major ethnic groups include Akans, Ewes, Ga-Dangme, Mole-Dagbanis among others.

Ghana has a mixed economic system. As at March 2022, the services sector remains the largest contributor to Ghana’s GPD with 52 percent contribution with the industrial sector being the next largest followed by the agricultural sector. On the expenditure side is household consumption which forms the main component of the GDP and accounts for 81 percent of its total use. Ghana’s main exports are gold, cocoa and crude oil. The Cedi is the official currency of Ghana. The economy advanced by 3.3% from a year earlier in the first quarter 2022 slowing down from a 7% expansion in the previous period.

• Jurisdiction: Common Law
• Language: English, Traditional Chinese (written), Cantonese (spoken), Mandarin (spoken)

• 2021 World Competitiveness Ranking (Swiss-based International Institute for Management Development): 7 of 138 (down 2 rankings)

• 2021 Economic Freedom Report (Fraser Institute): 1 of 180 (no change since 1996)

• 2021 Corruption Perceptions Index (Transparency International): 12 of 180 (down 1 from 2021)

• 2020 UN Development Programme Human Development Index: 4 of 189

• Hong Kong is a former British colony and became a special administrative region of the People’s Republic of China (PRC) on 1 July 1997, when Hong Kong was handed over to the PRC and the Basic Law came into effect.
• The Basic Law is the constitutional document of the Hong Kong Administrative Region (HKSAR) and guarantees that the principles and policies governing the region, such as "one country, two systems" and "Hong Kong people administering Hong Kong", will remain unchanged for 50 years. The Basic Law ensures that Hong Kong remains within the common law system and the judiciary is independent from the executive and legislative branches of the government.
• Hong Kong is located to the southeast of the PRC and lies in the vicinity of Peral River Delta and in conjunction with Shenzhen Special Economic District, forming a gateway between the PRC and other parts of the world.
• The Hong Kong government is led by the Chief Executive. The Chief Execution appoints people among senior officials of the executive authorised, members of the Legislative Council and public figures to the Executive Council, which assists the Chief Executive in policy-making. The Legislative Council is the law-making body of the HKSAR.
• Hong Kong has an economy characterised by free trade, low taxation and minimum governmental intervention.

• Jurisdiction: Civil Law
• Language: Hungarian

• 2019 Global Competitiveness Index: 47 of 140 (48 in 2018)
• 2021 Index of Economic Freedom: 55 of 178 (62 in 2020)
• 2020 Corruption Perceptions Index: 69 of 179 (70 in 2019)
• 2020 UN Development Programme Human Development Index: 40 of 189 (41 in 2019)

Hungary is a landlocked country in Central Europe with an area of 93,030 square kilometres.

Following World War II, Hungary became a satellite state of the Soviet Union, leading to the establishment of the Hungarian People's Republic. On 23 October 1989, Hungary became a democratic parliamentary republic. Hungary joined the European Union in 2004 and has been part of the Schengen Area since 2007.

The leading industries are machinery (mainly automotive) and chemical industry. The Hungarian GDP growth was 7.1% in 2021. Tourism also plays a very important role in the country as Hungary welcomed 12.5 million international tourists in 2018. The pandemic had a negative influence on the tourism, but in 2021 the number of tourists and revenue from tourism rose again and are expected to surpass the numbers before the pandemic.

Today Hungary is a representative democratic parliamentary republic with parliamentary elections held every 4 years. The main organ of state authority is the National Assembly (in Hungarian: Országgyűlés), which elects the head of government, the prime minister, who exercises the executive power. 

• Jurisdiction: Civil Law
• Language: Italian

• 2020 Global Competitiveness Index: 44 of 63 (no change)

• 2021 Index of Economic Freedom: 68 of 178 (1.1 point increase)

• 2020 Corruption Perceptions Index: 53 of 180 (no change)

• 2020 UN Development Programme Human Development Index: 29 of 189 (no change)

Italy is a peninsular country located in central-southern Europe, with a population of approximately 59.55 million, making it the third-most populous state in the EU.

Italy is a parliamentary republic. The Italian Parliament is split into two chambers and is elected every five years. It is empowered to appoint the President of the Republic and to grant or revoke confidence in the government.

Italy has a major advanced capitalist mixed economy, ranking as the third-largest in the eurozone and the eighth largest in the world. The most developed economic sector in Italy is the advanced tertiary sector, especially for tourism, trade, personal and business services.

Italy is also a country with a strong foreign trade orientation, characterized as one of the most competitive countries in world trade.
Italian industry is dominated by small and medium-sized enterprises (SMEs), primarily manufacturing.

• Jurisdiction: Civil Law
• Language: Japanese

• 2018 Global Competitiveness Index: 5 of 138

• 2022 Index of Economic Freedom: 35 of 180

• 2021 Corruption Perceptions Index: 18 of 176

• 2020 UN Development Programme Human Development Index: 19 of 189

Japan is the third-largest country in nominal GDP. Tokyo is the nation’s capital and largest city, and other major cities include Yokohama, Osaka, Nagoya, Sapporo, Fukuoka, Kobe and Kyoto. 

The Japanese political system is generally regarded as a constitutional monarchy, but the Japanese Emperor is characterized as a “symbol of Japan” under the Constitution of Japan and does not exercise any political power. 

The law-making power is solely vested in the Diet (kokkai) which consists of two houses, the House of Representatives (shugin) and the House of Councilors (sangin). The House of Representatives has 465 members whose term of office is four years, and its decisions may precede that of the House of Councilors for certain matters as specified under the Constitution of Japan. The House of Councilors has 245 members whose term of office is six years, and half of the members are elected every three years. The Diet begins its 150-day ordinary session from January each year which may be extended and the Cabinet may convene extraordinary sessions whenever necessary. 

The law execution power is vested in the Cabinet (naikaku), which consists of the Prime Minister (naikakusori daijin), who is the head of the Cabinet and the Ministers of State (kokumu daijin), who oversee each responsible ministry. The Prime Minister is designated from among the members of the Diet by a resolution of the Diet and appointed by the Emperor, and the Prime Minister appoints the Ministers of State. Legislation relating to the electricity industry is generally handled and executed by the Ministry of Economy, Trade and Industry (METI).

The judicial power is vested in the Supreme Court, and in such inferior courts as the High Courts, District Courts, Family Courts and Summary Courts. Japan adopts a three-tiered judicial system, and, in most cases, general civil lawsuits are handled by the District Courts as a court of first instance.

• Jurisdiction: Common Law
• Language: The official languages are English and Swahili.

GNI per capita: USD 1,760 (World Bank Data) 

• 2019 Global Competitiveness Index: 95 of 141 (down 2 rankings)

• 2022 Index of Economic Freedom: 138 of 178 (maintained same rankings)

• 2021 Corruption Perceptions Index: 128 of 180 (down 4 rankings)

• 2020 UN Development Programme Human Development Index: 143 of 189 (up 4 rankings)

• 2021 AfDB Electricity Regulatory Index (ERI) for Africa: 2 of 36 (up 3 rankings)

The Republic of Kenya is a country located in East Africa, on the equator. Kenya borders Tanzania, Uganda, South Sudan, Ethiopia, Somalia, and the Indian Ocean. There are over 40 ethnic communities in Kenya. Kenya’s history stretches back to the Berlin Conference of 1885 after which the British established the East Africa Protectorate in 1895. Thereafter, Kenya was declared a British colony in 1920. On June 1, 1963, Kenya attained self-governance and on December 12, 1963, Kenya gained full independence. The following year, Kenya became a republic with Jomo Kenyatta as its first president. Since independence, Kenya has had a continuous shift in its political and economic governance.

Today, Kenya is a constitutional democracy with general elections held every five years for both national and county levels of government. Kenya is also a market-based economy with agriculture serving as the backbone of its economy.

• Jurisdiction: Mauritius draws legal principles from both French civil law and British common law. 

• Language: English, French and Mauritian Creole and ethnic languages such as Hindi, Telugu, Tamil, Malayalam, Marathi, Urdu, Tamil or Mandarin

GNI per capita: USD 10,230 in 2020, a 20.7% decline from 2019. 

USD 12,740 in 2019, up 3.5% from 2018. The GNI per capita of Mauritius was at USD 12,535 for the year 2019.

• 2021 Global Innovation Index: 52 of 132 (1st in Africa)

• World Happiness Report 2020: 49 out of 153 (1st in Sub-Saharan Africa).

• 2020 Mo Ibrahim Index of African Governance: 1 out of 54

• 2019 Global Competitiveness Index: 52 out of 141

• 2021 The Wall Street Journal & The Heritage Foundation Index of Economic Freedom: 13 out of 178 (1st in Africa)

• 2020 Corruption Perceptions Index: 52 out of 180

Mauritius is an island situated in the Indian Ocean, just over 1,130 kilometres east of Madagascar, off the south-eastern coast of Africa. Its outlying territories include Rodrigues Island and other smaller islands. The island has a mixed developing economy based on manufactured exports, agriculture, tourism and financial services.

Mauritius forms part of the Commonwealth, having joined in 1968 following its independence from Britain on March 12 that year. Under the constitution, the legislative power is vested in a National Assembly, which is elected every five years and consists of 62 elected members and up to a further eight members drawn from the pool of candidates who were not elected but who may be appointed to broaden representation among minorities or under-represented parties.

Executive power is exercised by a Council of Ministers headed by a prime minister (appointed by the president), who then assembles a government from members of the National Assembly. The president and vice president are elected by the National Assembly for a term of five years.

• Jurisdiction: Roman-Dutch Civil Law
• Language: Portuguese

• 2019 Ease of Doing Business Report: 138 of 190

• 2019 Global Competitiveness Index: 137 of 140

• 2020 Index of Economic Freedom: 50.5 score, up from 48.6 score previous year (a change of 3.91%)

• 2020 Corruption Perceptions Index: 149 of 179

• 2020 UN Development Programme Human Development Index: 181 of 189

• Mozambique is located on the east coast of southern Africa. It covers an area of 799,380 km², with a coastline approximately 2,515 km long. It shares borders with South Africa, eSwatini (former Swaziland), Zimbabwe, Zambia, Malawi, and Tanzania. Its administrative division is comprised of 11 provinces, namely: Maputo - Cidade, Maputo - Província, Gaza, Inhambane, Sofala, Manica, Tete, Zambézia, Nampula, Niassa and Cabo-Delgado.
• In terms of politic system it is a Democratic Republic based on the principle of separation and interdependence of powers, with presidential elections every 5 years.
• Key economic sections include agriculture, extractives, manufacturing, transport, storage, communication and tourism. The top three export goods by value (in 2020) were coke, power and aluminium and the top three import sources (in 2020) were India, South Africa and United Kingdom.

• Jurisdiction: Civil law
• Language: Dutch

• UN Human Development Index (2022 report): 10 of 191 countries

• Corruption Perceptions Index (2022 report): 8 of 180 countries

• Index of Economic Freedom (2023 report): 8 of 176 countries

• Global Competitiveness Index (2023 report): 5 of 64 countries

The Netherlands is a country located in Western Europe and is part of the Kingdom of the Netherlands. The Kingdom consists of 4 countries: the Netherlands, Aruba, Curaçao and Sint Maarten. The countries work independently on some issues, and they work together on others. Each country has its own government. 

The Netherlands is a parliamentary democracy. Dutch people can choose who represents them in parliament. The Netherlands is also a constitutional monarchy. The King’s position is laid down in the Constitution.

• Jurisdiction: Common Law
• Language: English, Māori and New Zealand Sign Language

• 2018 Global Competitiveness Index: 18 of 138 (down 2 rankings)

• 2020 Index of Economic Freedom: 3 of 180 (no change)

• 2020 Corruption Perceptions Index: 1 of 176 (no change)

• 2020 UN Development Programme Human Development Index: 14 of 189 (no change)

New Zealand (Māori: Aotearoa) is an island nation located in the south-western Pacific Ocean. The country geographically comprises two main landmasses. The North Island (Māori: Te Ika-a-Māui), and the South Island (Māori: Te Waipounamu).

New Zealand was colonised by the British in the 19th century. In 1840, the Māori Indigenous chiefs agreed to the Treaty of Waitangi, which ceded sovereignty to the British Crown whilst also retaining territorial rights for the Indigenous Māori population.

In the 1980s, government policies transformed the economy into an open and free market, which contributed significantly to the high standard of living which New Zealanders enjoy today. The agriculture and tourism industries are the two key sectors in the economy today. New Zealand is a constitutional monarchy with parliamentary elections every three years.

• Jurisdiction: English Law
• Language: English, Yoruba, Hausa Igbo and several others

• 2018 Global Competitiveness Index: 125 of 137

• 2022 Index of Economic Freedom: 124 of 180

• 2021 Corruption Perceptions Index:154 of 180

• 2020 UN Development Programme Human Development Index: 161 of 189

Nigeria has a land mass of 923,768 km squared and is bordered by the Atlantic Ocean to the South, the Republic of Benin in the West, Republic of Niger in the North, Chad Republic in the Northeast and the Republic of Cameroon in the East. The country is a multinational state with 250 ethnic or nationality groups speaking 500 distinct languages, all identifying with a wide variety of cultures. 

The country is made up of thirty-six states and a Federal Capital Territory. The states are grouped into six geo-political zones namely: Northeast, Northwest, North Central, Southeast, South South, and Southwest. 

Nigeria was colonized by the British in the 19th century, taking its present territorial shape with the merging of the southern Nigerian protectorate and northern Nigeria protectorate in 1914. Agriculture, manufacturing and telecommunication are the principal sectors while more than 80% of government revenues come from oil and gas.

Nigeria is a federal republic with a presidential system of government. The president is elected every four years to a maximum of two four-year terms.

• Jurisdiction: Civil law
• Language: Norwegian

• 2019 Global Competitiveness Index: 17 of 138 (down 1 ranking)

• 2021 Index of Economic Freedom: 28 of 178 (no change)

• 2020 Corruption Perceptions Index: 7 of 176 (no change)

• 2020 UN Development Programme Human Development Index: 1 of 189 (no change)

Norway is a Nordic country in Northern Europe, the mainland territory of which comprises the western and northernmost portion of the Scandinavian Peninsula. The capital and largest city in Norway is Oslo. With the Barents Sea to the north, the Norwegian Sea and the North Sea to the west, and Skagerrak (Skager Strait) to the south, Norway has land borders only to the east — with Sweden, Finland, and Russia.

Harald V of the House of Glücksburg is the current King of Norway. Jonas Gahr Støre has been prime minister since September 2021, replacing Erna Solberg. As a unitary sovereign state with a constitutional monarchy, Norway divides state power between the parliament, the cabinet and the supreme court, as determined by the 1814 constitution. The kingdom was established in 872 as a merger of many petty kingdoms and has existed continuously for 1,149 years.

Norway maintains close ties with both the European Union and the United States. Norway is also a founding member of the United Nations, NATO, the European Free Trade Association, the Council of Europe, the Antarctic Treaty, and the Nordic Council; a member of the European Economic Area, the WTO, and the OECD; and a part of the Schengen Area.

The petroleum industry accounts for around a quarter of the country's gross domestic product (GDP). On a per-capita basis, Norway is the world's largest producer of oil and natural gas outside of the Middle East. Norway has the world's largest sovereign wealth fund, with a value of USD 1 trillion.

• Jurisdiction: Civil Law
• Language: Spanish, Quechua and other native languages

• 2021 Index of Economic Freedom: 50 of 178

• 2020 Corruption Perceptions Index: 94 of 180

• 2020 UN Development Programme Human Development Index: 79 of 189

• 2021 World Competitiveness Ranking: 58

Peru is a country located in southern America, bordering the Pacific Ocean. Geographically, it has a continental territory and, due to its location, it has a diversity of geographic sites and climates that vary mostly from coast, highlands and rainforest. In the 1990s, together with the promulgation of the current Constitution, a liberalization of the economy took place, which was the basis for the current open and free market economic configuration. Mining is the key pillar of the economy, with agriculture, fishing and manufacturing industries also playing a relevant role. Peru is a Republican and Unitary State, with presidential elections every five years.

• Jurisdiction: Civil law
• Language: Polish

• 2019 Global Competitiveness Index: rank 37 out of 138

• 2022 Index of Economic Freedom: rank 39 out of 180

• 2021 Corruption Perceptions Index: rank 42 out of 180

Poland is a central European country with over 1,000 years of history. After the second world war the country fell into the eastern, communist bloc, and thus its political and economic transformation into a democratic country with a free market happened after 1989. Since then, Poland’s economy has skyrocketed, fueled by numerous foreign investments. 

Another milestone in recent Polish history was joining the EU in May 2004. This created new opportunities for growth and is one of the major factors (aside the transformation into a free and open market economy in 1989) contributing to the rapid development, which Poland has enjoyed in recent years. As of 2019, wholesale and retail trade, transport, accommodation, and food industry as well as industry are the key sectors of Polish economy. Nevertheless, quite recent transition into the free-market economy and necessity for continuing growth still limits the pace of modernization and transformation of several key sectors of Polish economy – like the energy market. Even though there's been a huge boom in renewable energy sector in recent years, Poland still has tough challenges to overcome, as the majority of electricity is still generated from coal or lignite.

Poland is a parliamentary republic with parliamentary elections held every four years. The government is led by the prime minister of Poland; however, the head of state is the President of the Republic of Poland.

• Jurisdiction: Civil Law
• Language: Portuguese

• 2021 Global Peace Index: 4

• 2021 Index of Economic Freedom: 52 of 186

• 2021 Global Innovation Index: 31

• 2020 UN Development Program Human Development Index: 38

• 2021 Corruption Perceptions Index: 32 of 176

• 2019 Global Competitiveness Index: 34 of 138

Portugal is located on the Iberian Peninsula, in Southwestern Europe, whose territory also includes the Atlantic archipelagos of the Azores and Madeira. Portugal is the oldest continuously existing nation-state on the Iberian Peninsula and one of the oldest in Europe. In the 15th and 16th centuries, Portugal established the first global maritime and commercial empire, becoming one of the world's major economic, political, and military powers. Portugal has left a profound influence across the globe, with a legacy of around 250 million Portuguese speakers. It is a member of the UN, the EU, the Schengen Area, and the Council of Europe (CoE), Portugal was also one of the founding members of NATO, the eurozone, the OECD, and the Community of Portuguese Language Countries.

Portugal has been a semi-presidential representative democratic republic since the ratification of the Constitution of 1976, with Lisbon, the nation's largest city, as its capital. Portugal's Socialist party (PS) won the January 2022 parliamentary election with an outright majority.

The national currency of Portugal is the euro (€) and the country was one of the original member states of the eurozone. The tertiary sector is presently the most important component of the Portuguese economy.

• Jurisdiction: Romania
• Language: Romanian

• 2019 Global Competitiveness Index: Rank 51, Score 64.4

• 2022 Index of Economic Freedom: Rank 47, Score 67.1

• 2021 Corruption Perceptions Index: Rank 66, Score 45

• 2020 UN Development Programme Human Development Index: Rank 49, HDI Value 0.828

Romania is a country at the crossroads of Central, Eastern and South-eastern Europe. It has a predominantly temperate-continental climate, and an area of 238,397 km2 (92,046 sq mi), with a population of around 19 million. Romania is the twelfth-largest country in Europe, and the sixth-most populous member state of the European Union. 

Romania was formed in 1859 through a union of the Danubian Principalities of Moldavia and Wallachia. In the aftermath of WWI, having fought together with the Allied Powers from 1916, Bukovina, Bessarabia, Transylvania and parts of Banat, Crisana, and Maramureș became part of the Kingdom of Romania. At the end of WWII, a communist regime supported by the USSR took control of the country and ruled until 1989. After the 1989 Revolution, Romania began a transition towards democracy and a market economy, ultimately joining NATO in 2004 and EU in 2007.

Romania's political framework is a semi-presidential representative democratic republic where the Prime Minister is the head of government while the President represents the country internationally, signs some decrees, approves laws promulgated by parliament and nominations as head of state. Romania has a multi-party system, with legislative power vested in the government and the two chambers of Parliament: the Chamber of Deputies and the Senate.

• Jurisdiction: Civil Law
• Languages: Senegal has French as its official language; Other minority languages include Serer, Pulaar, Diola, Mandingo and Sarakole while Wolof is the national language.

• 2020 Global Competitiveness Index: 49,69 points

• 2021 Index of Economic Freedom: 58,00

• 2021 Corruption Perceptions Index: 43 points

• 2020 UN Development Program Human Development Index: 168

Senegal is located on the west coast of Africa, between 12 ° 88 and 16 ° 41 north latitude and 11 ° 21 and 17 ° 32 west longitude. Senegal has a strategic geographical position that gives it an opening to the world and an easy accessibility.

Senegal was colonised by France in the 20th century.

Senegal is one of the most successful economies in sub-Saharan Africa. For several years now, the economy has recorded sustained growth of more than 6%. Its long history of social and political stability and its ever-improving business environment make it a safe destination for investment. The implementation of a major reform agenda makes for better competitiveness of the economy and stimulating FDI flows in key sectors, including agriculture, industry, tourism, transport infrastructure and extractive industries.

The Senegalese Government is implementing the Emerging Senegal Plan (PSE), a reference document for economic and social development policies whose vision is "Senegal, an emerging country in the horizon 2035, with a solidarity society in a state of law ".

• Jurisdiction: Civil Law
• Language: Swedish and five official minority languages: Sami, Finnish, Meänkieli (Tornedalen Finnish), Yiddish and Romani Chib

• 2018 Global Competitiveness Index: 9 of 140

• 2020 Index of Economic Freedom: 22 of 180

• 2020 Corruption Perceptions Index: 3 of 179

• 2020 UN Development Programme Human Development Index: 7 of 189

Sweden is situated in northern Europe and is part of Scandinavia. Sweden is a constitutional monarchy, with a parliamentary democracy. Political power lies with the parliament and government. As such the monarch only has ceremonial functions. In Sweden, general elections are held every four years.

The government rules Sweden by implementing the decisions of the parliament and by formulating new laws or law amendments, on which the parliament decides. Sweden has a market-based mixed economy and is extensively tax-financed.

• Jurisdiction: The Constitution of the Republic of Uganda 1995 (as amended), Acts of Parliament, English common law and English doctrines of equity
• Language: English

• 2020 Doing Business Report: 116 of 190

• 2020 Global Competitiveness Index: 115 of 140

• 2020 United Nations Development Programme Human Development Index: 159 of 189

Uganda is a landlocked country in East Africa and is well-known for its natural beauty, savannah, wildlife and warmth of its people. Uganda is also one of the world’s fastest-growing populations. 

Uganda was a British Protectorate territory for the period 1894 to 1962, before being granted independence on 9 October 1962. Due to these historic ties, Uganda’s legal system is closely aligned to the English legal structure and system. The supreme law in Uganda is the Constitution of the Republic of Uganda 1995 (as amended), followed by Acts of Parliament and accompanying statutory instruments made under the respective Acts of Parliament. English common law and English doctrines of equity retain a privileged position in Uganda’s legal system and are specifically recognized as sources of law that are subordinate to written law. 

Uganda’s economy is fully liberalized and is made up of the agriculture (23%), industry (27.4%) and services (49.6%) sectors. Uganda’s economic development blueprint, Vision 2040, sets out to transform Ugandan society into a modern and prosperous middle-income status country by 2040. The key growth sectors have been identified are services (tourism, science and technology), industry (oil and gas, mining and construction) and agriculture. 

Uganda is a founding member of the East African Community, and has significant trading links with neighbours Kenya, Tanzania, Rwanda, Burundi, South Sudan and the Democratic Republic of Congo.

• Jurisdiction: The UK is made up of four countries, in which there are three legal jurisdictions: England and Wales, Scotland and Northern Ireland.

• Language: English is spoken by over 90% of the population in the UK.

67,081,000 (2020 Mid-Year Population Estimate from the ONS)

34,135 (2021 ONS)

• Economic freedom: The UK's economic freedom score is 72.7, making its economy the 24th freest in the 2022 Index of Economic Freedom.

• Human Development Index (HDI): In 2019, the UK had a HDI score of 0.932 which is considered very high as it was ranked 13th in the world in the HDI. The UK’s HDI score is increasingly steadily as improvements are made to the life expectancy at birth, years of schooling and GNI per capita.

• Corruption Perceptions Index: In 2021, the UK had a score of 78.00 in the Corruption Perceptions Index and ranked 11th safest out of 180 countries.

The UK is a state made up of England, Wales, Scotland and Northern Ireland.¹

The UK government uses taxes to fund its activities including income tax and environmental taxes.²

The current UK Prime Minister (as of 6 September 2022) is Liz Truss.

The UK left the European Union on 31 January 2020 which has impacted its trade relations. At the time of writing, political disruption has led to the UK Currency, Pound Sterling, to fall below $1.15.³ The UK is currently looking to build  Free Trade Agreements (FTA) and strengthen trade ties globally, having already signed three new FTAs with Australia, New Zealand and Singapore since leaving the EU.⁴ As a result of this, the proportion of goods imported from non-EU countries has increased.⁵

The United States remains the UK’s largest trading partner, largely because the UK exported £39.0 billion of services to the US in the first half of 2020.⁶ Service industries which includes retail, hospitality, professional services, and finance, accounted for 80% of the total UK economic output. The next significant industry was manufacturing which contributed 10% followed by the construction industry which contributed 6%.⁷

These industries also reflect the percentage of UK workers who work within each respective industry. For instance, the services industry provides jobs to 84% of the UK workforce.

The UK GDP for Q1 2022 was £569,182 million.⁸

The UK has natural oil and gas reserves in the North Sea.⁹