G20

Open Market Index

Open Market Index

To further understand the extent to which governments are following through on their commitments to create genuinely open economies, the ICC commissioned the development of an Open Markets Index (OMI) to generate a balanced and reliable measurement of a country’s openness to trade. It uniquely combines indicators of actual, de facto, openness of markets with those reflecting government measures considered barriers to market entry.

ICC Open Markets Index 2011

 

The results of the OMI serve two purposes:

  1. The ranking of national market performance on openness to trade from most to least open is an effective way to concentrate attention on the need for improvements and to monitor progress year-on-year.
  2. The evaluation of a country’s performance across four indicators of openness to trade constitutes a tool for policymakers and authorities to identify deficiencies that deserve greater attention, thereby generating a roadmap of sorts for action and improvement.
Government authorities with better information on how their market performs – on key indicators and relative to other countries – are better able to honor commitments to open trade, implement necessary changes and resist regressive measures to ‘protect’ domestic industries and jobs. We hope governments find the OMI to a useful guide for concentrating on what needs to be improved as well as gauging their own progress over time.

ICC G20 news

Press release

G20 countries fail to lead in trade openness, ICC Index indicates

G20 countries fail to lead in trade openness, ICC Index indicates

The support for open trade pledged by G20 countries at the end of the Summit in Cannes was not matched by their recent performance, according to the findings of the ICC Open Markets Index – released... Read more

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