STOCKHOLM, Sept. 15(Xinhuanet)-- Denmark and the other Nordic countries receive top ratings for their business climate, Ritzau news bureau reported on Thursday.

The Nordic countries provide some of the best conditions for conducting business, according to a study conducted by the International Finance Corporation, the World Bank's business division.

With regard to creating a favorable business climate, Denmark took eighth place, surpassed by Norway's fifth spot. Iceland, Finland, and Sweden rounded out spots 12 through 14.

Law firms, accountants, and experts from the 155 countries included in the report conducted the study.

Business developments in the Nordic countries caught the attention of World Bank vice-president Michael Klein, as he presented the results at a press conference in London.

Countries, such as Germany, mired in economic stagnation should turn to the north for inspiration instead of considering US modelsas a way to overcome their woes.

"You just have to look to the Nordic countries, and that way you can avoid the discussion of what people in Germany actually think of the US," he said.

Denmark also took a first place with regard to how easy it is to get approval to import goods into Denmark: only one signature was needed. Obtaining approval in the Congo, in contrast, was somewhat more difficult with 80 signatures required.

High taxes, fees, and duties marred Denmark's finish as a favorable country to do business in. Danish companies pay on average 63.4 percent of their net earnings to the state, while US companies can settle with 21.5 percent and Swiss companies 22 percent. Enditem