WEF: Armenia ahead of CIS countries in world trade promotion

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Economy

19.06.2008, 02:44

Armenia ranks the 61st among 118 countries and is the first in the Commonwealth of Independent States (CIS) in terms of world trade promotion, says the report of World Economic Forum (WEF) about promotion of world trade in 2008.

YEREVAN, June 18. /ARKA/. Armenia ranks the 61st among 118 countries and is the first in the Commonwealth of Independent States (CIS) in terms of world trade promotion, says the report of World Economic Forum (WEF) about promotion of world trade in 2008.

Armenia left behind Ukraine (68), Azerbaijan (78) and Russia (103), WEF‘s partner “Economy and Values” research center reported.

Hong Kong and Singapore hold the leadership in open trade and attraction of investments owing to their effective economic policy.

Armenia is the 43rd in terms of free market access coefficient, which means that the country’s economic policy promotes inflow of foreign product in the country sufficiently. But on the other hand, Armenia is the 87th in terms of trade regulation at the borders that has the most unfavorable impact for Armenia.

Of 10 main world trade factors the following are the most efficient ones in Armenia – tariff and non-tariff restrictions (Armenia is the 14th in this respect) and legislation on business environment (the 47th).

According to the report, the following indicators are the most vulnerable ones for Armenia: efficiency of customs regulation (103rd), transparency of activity of regulatory bodies at the border (92nd), availability and quality of transportation means (89th) and accessibility and quality of information and communication means (86th).

This report is published by the WEF for the first time. It analyses the ability of 118 countries to ensure efficiency of the factors underlying free flow of goods between the countries and the world trade.

The world trade promotion level for a country is calculated based on ratios of four main sectors – market access, regulation at the borders, transport and communication infrastructure and business atmosphere available in the country. –0--

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