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The Best Countries To Do Business In (PHOTOS)

Huffington Post     First Posted: 05/21/10 01:18 PM ET   Updated: 05/25/11 05:35 PM ET

Like everything else last year, global trade fell -- by 12.5%, according to the World Trade Organization. In some countries, volumes sank as low as during the Great Depression.

But unlike during the 1930s, many countries reacted by opening up their economies, rather than increasing protectionist measures. This was one of the conclusions of the World Economic Forum's latest Global Enabling Trade Report 2010, which ranked 125 countries across nine pillars. Overall, Asian and Nordic countries performed the best once again. Developing nations, led by Vietnam, made the most headway in enabling foreign trade with better market access, more sophisticated customs processes and new infrastructure.

The United States, for its part, ranked 19th on the list, falling three spots from last year. Check out which 11 countries topped the ranking.

11. Iceland
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Iceland's first-time inclusion in this report - thanks to newly available data - is already a good sign. Trade activity in is steadily increasing, and notably, this country of 300,000 was one of the few that reduced tariff rates on agricultural goods last year.
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