This is one of the findings of the Global Enabling Trade Report 2016, published by the World Economic Forum (WEF) and the Global Alliance for Trade Facilitation. "Asean's progress as an economic power comes at a time when the US and European Union are becoming less open," the report said. Singapore and Hong Kong were ranked first and third, respectively, at enabling trade across borders, while the Netherlands came in second, the UK, eighth and Germany, ninth. Other Asean member states mentioned in the report were Thailand (63rd, up nine places), Vietnam (73rd, up 14) and Laos (93rd, up seven). Schwab said free trade remained the most powerful driver of global economic development and social progress.

Source: New Strait Times December 01, 2016 02:07 UTC