The International Chamber of Commerce (ICC) has today (11/06/13) issued the latest Open Markets Index which ranks countries by their openness to trade.
Ireland is ranked 8th out of 75 countries assessed worldwide, coming 5th in Europe behind Luxembourg, Belgium, Malta and the Netherlands.
Ian Talbot, Secretary General of ICC Ireland said, “As a small island, an open economy is vital to allow for access to larger markets and free movement of capital for investment. Ireland’s ranking is positive news given the importance of Foreign Direct Investment and international trade for our economic wellbeing and particularly to support employment and to create the growth so desperately needed in this economy.”
“Those countries ranked above us are our direct competitors for the title of ‘Best small country in the world in which to do business’. If we are to achieve this target by 2016, then we need to keep focused on maintaining our openness to trade and ensure that no new barriers, such as taxes, are put in place,” he concluded.