Wed, Nov 07, 2007 - Page 11 News List

Singapore leading the global pack in logistics for trade

AP , WASHINGTON

Singapore, a major global and logistics hub, ranked first in a new World Bank survey of countries' capacity to ship goods.

It was the second time this year Singapore topped a World Bank list. In a report on ease of setting up businesses released two months ago, Singapore finished No. 1.

At the other end of the trade logistics study were landlocked countries in Africa and Central Asia.

Connecting to Compete: Trade Logistics in the Global Economy, a study based on a world survey of freight forwarders and express carriers, showed that making it easier to connect firms, suppliers and consumers is crucial in a world where predictability and reliability are becoming more important than costs, the bank said.

"Being able to connect to global markets is fast becoming a key aspect of a country's ability to compete, grow, attract investments, create jobs and reduce poverty," said Danny Leipziger, the bank's vice president for poverty reduction and economic management.

Among the seven most industrialized countries in the survey, Germany was No. 3, Japan No. 6, Britain No. 9, Canada No. 10, the US No. 14 , France No. 18 and Italy No. 22 out of a total of 150 countries covered.

Taiwan was ranked No. 21.

The bank said there were also significant differences among developing countries with similar incomes.

Another finding of the survey was that developing countries where trade has been made central to their economy perform better than others with similar incomes.

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