Egypt ranks first out of 100 countries in trade policy reform, according to a report by the World Bank (WB).

The report, 'Financial Markets in a New Age of Oil', ranks Egypt as number one due to its reducing customs tariffs in the period 2000.2005 and for successive customs reforms.

Reduced taxation on individual incomes and companies is in parallel with civil service reform and the introduction of an early retirement scheme for public sector employees, the report quoted by the Middle East News Agency (MENA), said.

Egyptian service exports have risen 20 percent in the period 2000-2005, the report added.

26/6/2006