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Taiwan scales 5 places in WEF Global Enabling Trade Report

TAIPEI, Taiwan -- Taiwan was ranked 24th out of 138 by the World Economic Forum (WEF) in the Global Enabling Trade Report 2014, released on Monday.

A slight leap from its original 29th place last year, Taiwan also ranked number 6 out of all of Asia's economies, following Singapore, Hong Kong, New Zealand, Japan and Australia, and topping countries including China, Malaysia and Thailand.

The report analyzes the world's economies from four aspects: institutions, policies, infrastructure and services. Singapore topped not only the Asian economies but also the rest of the world, with Hong Kong and the Netherlands ranking number 2 and 3. Singapore and Hong Kong managed to secure the same rankings from 2012, while Denmark dropped a surprising 14 places and was replaced by the Netherlands.

The WEF's Global Enabling Trade Report is published every two years. The report assesses the quality of the said four aspects of 138 economies in the world, and its Enabling Trade Index measures the performance of these economies in another four areas: market access, border administration, infrastructure and operating environment.

According to the WEF, the report is a widely used reference, also helping the economies integrate global value chains and companies into their investment decisions. It informs policy dialogue and provides a tool to monitor progress on certain aspects of global trade.

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