(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 22nd January, 2018 (WAM) -- The UAE is first in the region and is ranked third globally, after China and India, for a fourth consecutive year, staying atop the Compatibility and Connectedness sub-indices in the Agility Emerging Markets Logistics Index. The country is also attributed the number one position for Quality of Infrastructure.
The Compatibility sub-index is effectively a measure of market accessibility and the ease of doing business. Six of the top 10 ranked markets for Compatibility come from the Middle East and North Africa region. The business climates, infrastructure and transport connections of leading Gulf economies continue to be the best offered by the world's emerging markets, according to Agility's annual global logistics industry report. Outside of China, trade between the UAE and the EU is also among the strongest-growing trade lanes, with a growth of 11.8 percent.
When it comes to business conditions, the United Arab Emirates, Oman and Bahrain outclass all other countries in the 50-nation 2018 Agility Emerging Markets Logistics Index, a broad gauge of economic competitiveness. Saudi Arabia came at 8 and Kuwait at 16 positions.
Countries in the region also rank at or near the top of the Index in quality of infrastructure and transport connections where UAE stood at 1st, Bahrain at 5th, Oman at 6th, and Saudi Arabia at 7th.
"The UAE maintains its high ranking across several indices with its abundance of free trade zones, no corporation tax, the offer of full ownership and unlimited repatriation of profits still setting the benchmark for emerging markets. The capital Abu Dhabi has several high-profile infrastructure projects coming online, and we are accommodating that growth through our expanding business. The countries in the region are moving aggressively to spur non-energy economic growth, create jobs, lure new investment, and develop knowledge economies," says Elias Monem, CEO of Agility Middle East and Africa.
"In the Gulf, it's never been easier to start or buy a business, to commercialize a good idea, to find and hire young talent, and to plug into the global economy," he added.
The giant, fast-growing economies of China and India continue to dominate the overall emerging markets rankings. The Index, in its ninth year, is a broad gauge of economic competitiveness that includes a survey of more than 500 logistics industry professionals and a data-driven analysis of 50 emerging markets countries by size, economic strength, infrastructure, transport connections and business climate.
Egypt is the standout of the 2018 Index, vaulting six countries to No. 14 in the rankings, the largest jump of any emerging market.
WAM/Tariq alfaham/MOHD AAMIR
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