Russia climbs up WEF competitiveness rankings

Russia has climbed up 8 places to 45th place in this year’s WEF competitiveness rankings  published this week, largely reflecting  the  improvement in  the business environment that  followed its accession to the WTO in 2012. The main challenges it now faces, according to the Geneva-based organisation, are  the structural weakness of its state institutions, the insufficient development of the financial markets and the low efficiency of goods market.
The rankings of states along the New Silk Road were as follows:

  • China (29th, up from 28th)
  • Kazakhstan (42nd, up from 50)
  • Turkey (51st, down from 44th)
  • Iran (74th, up from 82nd)
  • Ukraine (79th, up from 84th)
  • Tajikistan (80th, in the report for the first time)
  • Armenia (82nd, down from 79th
  • Kyrgyzstan (102nd, up from 121st)
  • Mongolia (104th up from 107th

Switzerland took first place  for the seventh time in a row with  Singapore in second followed by the US, Germany and the Netherlands.

Source: BFM