New Zealand ranks fourth for enabling tradeTrade
Trade Minister Tim Groser welcomes the release of a report by the World Economic Forum ranking New Zealand fourth in the world for enabling trade.
The Global Enabling Trade Report 2014 measures the extent that economies have institutions, policy, infrastructure and services in place that facilitate the flow of goods and services.
“New Zealand’s positive result endorses the Government’s Business Growth Agenda,” says Mr Groser.
“New Zealand’s border arrangements and operating environment make it easier for New Zealanders to do business with the rest of world, and for the rest of the world to do business with us.”
According to the index, New Zealand’s border administration ranks sixth out of 138 countries for facilitating the flow of goods and services, while our operating environment is ranked seventh. New Zealand ranks first on integrity and lack of corruption in its trade and payments systems.
Two of the most significant barriers faced by New Zealand exporters are tariff barriers imposed by other countries and the high cost of delay caused by international transportation, according to the Forum.
“Our ambitious FTA agenda is focused on improving New Zealand exporters’ access to international markets. The Government has also taken steps to invest in developing New Zealand’s transport infrastructure, including strengthening rail, sea and air infrastructure.” says Mr Groser.
We will continue to place a high priority on reducing barriers to exporting for New Zealand businesses through the Business Growth Agenda.”
The Global Enabling Trade Report 2014 says that inefficiencies, red tape and poor infrastructure are among key issues preventing economies from fully reaping the benefits of trade. According to analysis by the Forum, even modest reductions in trade barriers would lead to significant increases in global growth.
“New Zealand is collaborating with other countries on measures to facilitate trade, through the WTO and our participation in Australia’s G20 year,” says Mr Groser.
More information on the report can be found at http://wef.ch/getr14