My topic is costco moves to iceland.prepare a thorough evaluation of the target country’s (iceland)external environment — i.e., a PESTEL (Political, Economic, Social/Cultural, Technology, Environmental, and Legal) analysis.Conducting a PESTEL analysis helps a multinational firm gain a holistic understanding of the external environment in a target country. This understanding is essential for formulating a well-informed international business strategy that aligns with the unique conditions and challenges of the new market. By carefully considering these factors, the firm can navigate the complexities of international expansion more effectively and increase its chances of success.I need a about one page and half single spaced talking about political, economic, social, technological, environmental and legal, please make sure this is about costco moving to iceland in 2017 and please provide the articles used. ANSWER ALL OF THE QUESTIONS BELOW. each part of the pestel should be about 1-2 paragraphsPolitical? How stable is the political environment in the prospective country?? What are the local taxation policies? How do these affect your business?? Is the government involved in trading agreements, such as the European Union(EU), the North American Free Trade Agreement (NAFTA), or the Association ofSoutheast Asian Nations (ASEAN)?? What are the country’s foreign-trade regulations? o What are the country’ssocial-welfare policies?Economic? What are the current and forecast interest rates?? What is the current level of inflation in the prospective country? What is itforecast to be?? How does this affect the possible growth of your market?? What are local employment levels per capita, and how are they changing?? What are the long-term prospects for the country’s economy, gross domesticproduct (GDP) per capita, and other economic factors?? What are the current exchange rates between critical markets, and how will theyaffect production and distribution of your goods?Sociocultural? What are the local lifestyle trends?? What are the country’s current demographics, and how are they changing?? What is the level and distribution of education and income?? What are the dominant local religions, and what influence do they have onconsumer attitudes and opinions?? What is the level of consumerism, and what are the popular attitudes toward it?? What pending legislation could affect corporate social policies (e.g., domestic-partner benefits or maternity and paternity leave)?? What are the attitudes toward work and leisure?Technological? To what level do the local government and industry fund research, and are thoselevels changing?? What is the local government’s and industry’s level of interest and focus ontechnology?? How mature is the technology?? What is the status of intellectual property issues in the local environment?? Are potentially disruptive technologies in adjacent industries creeping in at theedges of the focal industry?Environmental? What are the local environmental issues?? Are there any pending ecological or environmental issues relevant to yourindustry?? How do the activities of international activist groups (e.g., Greenpeace, EarthFirst!, and People for the Ethical Treatment of Animals [PETA]) affect yourbusiness?? Are there environmental-protection laws?? What are the regulations regarding waste disposal and energy consumption?Legal? What are the local government’s regulations regarding monopolies and privateproperty?? Does intellectual property have legal protections?? Are there relevant consumer laws?? What is the status of employment, health and safety, and product safety laws?