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100th position among 121 world economies: Pakistan slips back in Enabling Trade Index ranking
 admin May 3, 2010, 07:33:06 AM 

ISLAMABAD (July 08 2009): Pakistan lost 16 places in the Enabling Trade Index ranking and was at 100th position among 121 world economies featured in the Global Enabling Trade Report 2009 of the World Economic Forum, while East Asian economies including Hong Kong and Singapore occupied the top two slots. According to the Global Enabling Trade Report 2009, released by the World Economic Forum on Tuesday, Pakistan\'s neighbours including India and Sri Lanka also lost their previous positions of 71 & 70 last year and stood 76 and 78 in the index whereas Bangladesh slipped one spot to 111 while Nepal improved to 110 from 116. Switzerland, Denmark and Sweden followed the Hong Kong and Singapore in index table while addition of Canada, Norway, Finland, Austria, the Netherlands, New Zealand and Germany complete the top 12 standings, the report reads. Pakistan ranked 111th in the market access, 63rd in business administration, 80th in transport and communications infrastructure and 102nd in business environment. Pakistan needs to pay immediate attention to create an environment conducive to trade and investment, including a transparent and efficient border administration, well-developed transport infrastructure and highly efficient services, the report suggested. The World Economic Forum also suggested that in improving its ranking in the Global Enabling Trade Report Pakistan will play a crucial role for trade transactions between Afghanistan and India. Pakistan will be a transport hub for Central Asia in the shape of Karachi and Gwadar ports. Furthermore, through the new trade corridor and Karakoram Highway Pakistan will increase its competitiveness in trade and investment, it added. The report says that current challenge is to ensure not only the countries restrain from pulling each other down further by limiting trade, but they help in recovery by trading with each other. Further enabling trade across borders can mitigate the effects of the global crisis, as measures facilitating trade will reduce the transaction cost and partially offset the effects of the demand slump, it reads. The report stated that the results bear witness to Hong Kong and Singapore\'s openness to international trade and investment as part of their successful economic development strategy. Both countries have put into place customs administrations that are highly efficient in getting goods over borders. They are also endowed with well-developed transport and telecommunications infrastructures ensuring rapid transit to final destination. These attributes are further supported by business environments that are conducive to the logistics and transport industry. The report comes at a crucial time as far as global trade is concerned, as overall economic activity declined, trade volume dropped and public authorities adopted counter-cyclical stimulus policies and institutional reforms. The Enabling Trade Index, featured in the report, measures the factors, policies and services facilitating the free flow of goods over borders and to destination. The index breaks the enablers into four overall areas: market access, border administration, transport and communications infrastructure and the business environment.

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