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Taiwan trade competitiveness drops for 4th year: report

Xinhua, January 21, 2016 Adjust font size:

Taiwan's ranking of competitiveness in trade dropped for a fourth straight year to 15th this year among 54 tracked economies, down from the 14th for 2015, according to a report.

The report on global trade environment and growth potential in key and emerging markets was released by the Importers and Exporters Association of Taipei on Thursday.

Major reasons behind the slide in this year's ranking were the aborted cross-Strait service pact, a deteriorating business environment, less attractiveness for investment and a shrinking talent pool, the report said.

The survey is composed of several indicators, including the overall competitiveness, trade facilitation, trade risks and future trends of the surveyed economies.

Companies in Taiwan should seize opportunities from multiple platforms, including the China's Belt and Road Initiative, which aims at reviving the ancient Silk Road, as well as platforms of global innovation and the Internet of Things, the report said.

Singapore was ranked the first, followed by the United States, Britain, Germany, Hong Kong, New Zealand, the Netherlands, Canada, Japan and Australia. Endi