April 14, 2008 // Franchising.com // WASHINGTON — The International Franchise Association and the Lebanese Franchise Association today signed a Memorandum of Understanding to help their members conduct business efficiently at home, collaborate to expand each country's markets and work to increase franchising trade and investment flows worldwide.
The agreement recognizes the opportunities that the franchising sector offers for countries and the shared goals for making franchising laws and regulations transparent, competitive and consistent with international standards.
"We are pleased to formalize our partnership with the Lebanese Franchise Association," said IFA President and CEO Matthew Shay. "The more we can enhance franchising standards globally and increase cooperation in the global franchising community, the more opportunity we will all have to continue the growth of franchised businesses both at home and abroad."
Signed during the 17th Annual International Franchise Expo held here April 11-13, by Shay and LFA Vice President George Najjar, the MOU will foster international cooperation in training, data collection and analysis and sharing of information, including best industry practices in franchising.
"We are very proud of having signed an MOU with the IFA. This MOU will pave the way for Lebanese franchises to access the U.S. market and for American franchises to enter or expand their presence in Lebanon," said Najjar. "American franchises are very popular in Lebanon, and demand for more American franchises is still growing. Franchising is a successful business model in Lebanon, and Americans and Lebanese can benefit greatly from our collaboration in both markets."
International delegations from India, Mexico, the Philippines and Singapore also attended the Expo.
The International Franchise Association, the world's oldest and largest organization representing franchising, is the preeminent voice and acknowledged leader for the industry worldwide. Approaching a half-century of service with a growing membership of more than 1,300 franchise systems, 10,000-plus franchisees and more than 500 firms that supply goods and services to the industry, IFA protects, enhances and promotes franchising by advancing the values of integrity, respect, trust, commitment to excellence, honesty and diversity. For more information, visit the IFA Web site at www.franchise.org.