Bangkok, Thailand (PressExposure) July 26, 2008 -- Hong Kong has been named the top economy in the world for enabling trade, Zetland Fiduciary Group says.
The World Economic Forum placed Hong Kong in June atop its Enabling Trade Index, which tracks the free flow of goods over borders and to destinations, Zetland reports on its website.
Published for the first time, the WEF report gives a cross-country analysis of measures facilitating trade. It ranks Hong Kong and Singapore as the top two economies enabling trade, followed by Sweden, Norway, Canada, Denmark, Finland, Germany, Switzerland and New Zealand in the top 10. The United States was 14th.
The index covering 118 countries divides the enablers into four broad issue areas" market access, border administration, transport and communications infrastructure, and the business environment.
The index will be particularly useful for policy-makers interested in benefiting from trade, said Professor Robert Lawrence, co-editor of the report.
By integrating and benchmarking the full range of factors that affect trade, both at and behind the border, it provides meaningful guidance on what their priorities should be, he said.
The survey provides unique data on many qualitative institutional and business environment issues, and the perception of the private sector on various aspects of the economy.
In the report, Malaysia is considered the best performing country in developing Asia, ahead of Indonesia (47), Thailand (52), Philippines (82) and Vietnam (91).
Zetland, a Hong Kong-based financial consultancy, reviewed the World Economic Forum report on its comprehensive website in July.
Zetland Fiduciary Group Limited was established in 1987 and has offices in Seychelles, Singapore, Tokyo, Belize, Geneva, New Zealand and Shanghai.
Zetland's professional consultants tackle a range of business issues" from investment opportunities to jurisdictional changes in legal, tax and accounting matters" for clients around the globe.