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May 19, 2010

International Trade: The Global Enabling Trade Report 2010

Singapore and Hong Kong are the most open economies to international trade in 2010.

Vietnam gains 18 positions among 125 countries in The Global Enabling Trade Report 2010.

Turkey, India and Russia drop in the rankings.

International Trade

Hong Kong

Photo: Victorial Harbour, Hong Kong.

East Asian economies - Singapore and Hong Kong SAR - continue to occupy the top two positions in the Enabling Trade Index ranking, followed by Denmark, Sweden and Switzerland, according to The Global Enabling Trade Report 2010, released today by the World Economic Forum in Geneva.

New Zealand moves by five ranks to 5th place. Norway, Canada, Luxembourg and the Netherlands complete the top-10 list. Iceland enters the ranking for the first time at 11th position, and Finland drops out of the top 10 to 12th place.

Among the large economies, Germany is the best performer at 13th, ahead of the United States, which drops by three places to 19th. China (48th) and Brazil (87th) remain stable, while Turkey (62nd), India (84th) and Russia (114th) drop in the ranking.

See the Overall Rankings

Global Trade

The results mirror the resilience against the threat of protectionism during the economic crisis. International agreements such the WTO framework and pledges by the G20 have contributed to limiting the effect of protectionist pressures on trade barriers. Despite fears of rising protectionism, the report confirms that a large majority of countries did not raise trade barriers.

Global Trade

World Trade

"Just as trade was a key force spreading the growth slowdown internationally, so can trade be an important driver in diffusing the benefits of recovery across the globe. When individual countries enable trade, they provide benefits not only to themselves but also to other nations with which they trade. Improved market access, more efficient customs, and better infrastructure and business environments offer enhanced opportunities for both importers and exporters. Thus, granting Aid for Trade to help nations implement such measures reflects enlightened self-interest, because it enhances welfare in recipient countries and their trading partners," said Robert Z. Lawrence, Albert L. Williams Professor of Trade and Investment at the John F. Kennedy School of Government at Harvard University, USA. Professor Lawrence is also academic adviser and co-editor of the report.

Published for the third year in a row and covering 125 economies worldwide, the report presents a resource for dialogue and provides a yardstick of the extent to which economies have in place the necessary attributes for enabling trade and where improvements are most needed.

Get The Global Enabling Trade Report 2010

Source: The World Economic Forum, Geneva, Switzerland.

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Edited & Posted by the Editor | 11:56 PM | Link to this Post

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