Hong Kong leads the world in terms of enabling trade, according to a June 18 report that measures and analyzes factors enabling trade in 118 industrialized and emerging economies around the world.
Hong Kong Financial Secretary John C. Tsang welcomed the report. “I am pleased to note that Hong Kong is ranked first overall in the Enabling Trade Index (ETI) 2008, developed by the World Economic Forum in collaboration with international trade experts and practitioners,” he said. “It demonstrates strong positive recognition of Hong Kong’s open, transparent and efficient trading infrastructure.”
The Global Enabling Trade Report 2008, the result of years of research into factors, policies and services of national economies in trade facilitation, covers four areas: market access, border administration, business environment and transport and communications infrastructure.
Mr. Tsang said the research findings show that Hong Kong performs strongly in all four areas.
“We remain committed to free market access and tariff-free import of goods,” he said. “The recent decisions to abolish wine and beer duty and waive hotel accommodation tax are clear indications of our determination.
“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.”
Citing the recently opened Hong Kong-Shenzhen Western Corridor, Mr. Tsang said Hong Kong will continue to invest in cross-boundary infrastructure to ensure maximum efficiency in transport and communications.
He said Hong Kong will also continue to improve regulatory efficiency 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,” said Mr. Tsang.
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