Georgia Ranked Third in Free Trade Component

According to the free trade component of the Heritage Foundation’s index of Economic Freedom 2016, Georgia is ranked third.

The report assesses countries on a 100 point system, where Georgia had 88.6, a score which hasn’t changed since last year.

The leaders of the rating are Hong Kong, Liechtenstein, Singapore, Macau, Switzerland with 90 points. Swaziland has second place with 88.8 points.

The authors of the rating point out that the recent data in terms of free trade shows the countries with free trade have better record than countries where such practices do not exist.

Studies show a strong connection between free trade and other positive indicators, such as low level poverty, economic indicator and a clean environment.

In terms of free trade, countries in the region, Armenia has 55th place with 84.4 points, Russia has 72 points, while Azerbaijan has 75.8 points.

Index of Economic Freedom of the World 2016 will be fully published in a few days.