Hong Kong Tops Global Enabling Trade Index
Hong Kong leads the world in terms of enabling trade, according to a report released by the World Economic Forum.
The inaugural issue of the Global Enabling Trade Report 2008 measures and analyzes factors enabling trade in 118 industrialized and emerging economies around the world. The report covers four areas: market access, border administration, transport and communications infrastructure, and business environment.
Financial Secretary John C. Tsang welcomed the report saying that it demonstrated positive recognition of Hong Kong's open, transparent and efficient trading infrastructure.
"Our market promotion efforts in emerging economies, efforts to facilitate the importation of skills and talents, and the government's announcement of the introduction of a competition law are all examples of our commitment to ensure ease of access to markets and a fair and level playing field for investors," Mr. Tsang said.
Citing the recently opened Hong Kong-Shenzhen Western Corridor, Mr. Tsang said Hong Kong would continue to invest in cross-boundary infrastructure to ensure maximum efficiency in transport and communications infrastructure.
He said Hong Kong would also continue to enable trade through improving regulatory efficiency so as to reduce compliance costs.
"We will continue our policy of facilitating free trade while ensuring an appropriate degree of government regulation to provide a fair business environment for investors, and aiming to maintain Hong Kong as a global leader in enabling trade in goods and services."
According to the report, the findings illustrate Hong Kong's openness to international trade and investment. The report finds that Hong Kong has a highly efficient customs administration, well-developed transport and telecommunications infrastructures, and a business environment conducive to the logistics and transport industries.
World Economic Forum: http://www.weforum.org/en/index.htm
Financial Secretary's Office: http://www.fso.gov.hk/
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