10 more nations join World Logistics Passport
Malaysia, Kenya, Paraguay and Ecuador are the latest entrants to the World Logistics Passport; Ten new countries bring total number represented in the WLP network to 23
The World Logistics Passport welcomed 10 new countries at its inaugural global summit on Tuesday as the private sector-led initiative designed to smooth the flow of international trade and unlock market access gained popularity among the leading trading nations.
Malaysia, Kenya, Paraguay and Ecuador are the latest entrants to the World Logistics Passport, bringing the total number represented in the WLP network to 23. New joiners follow Ethiopia, Botswana, Zimbabwe, Mozambique, Burkina Faso and Guinea who joined at the beginning of June.
Sultan Ahmed bin Sulayem, group chairman and chief executive officer, DP World, said the WLP is helping countries grow their economies and create jobs, facilitating access to new mar-kets and increasing the resilience of the global supply chain in the process.
“Today’s Summit marks an exceptional year for the World Logistics Passport, with the number of countries in this club of trading nations having risen to 23 across the world in just 12 months,” Bin Sulayem said.
The virtual summit hosted a mix of CEOs, government ministers and representatives of leading international trade bodies to further international cooperation, offering businesses the right conditions, information and incentives to unlock the full potential of global trade.
It will culminate in the unveiling of ten new countries which are joining the program, and with a declaration for adoption by all WLP countries in attendance.
Saad Maniar, senior partner of Crowe in DIFC, said the UAE is truly a global leader and al-ways put infrastructure and efforts to make it successful, for all the stakeholders.
“As more countries added to the World Logistics passport, the value proposition strengthens even more,” Maniar told Khaleej Times on Tuesday.
India, Indonesia, Thailand, Brazil, Colombia and South Africa were among the first batch of countries that have signed on to the World Logistics that was launched at the World Economic Forum in Davos a year ago.
Shailesh Dash, a Dubai-based entrepreneur and financier, termed the latest WLP development a welcome move and said it proves the success of the programme.
“This landmark initiative has promoted Dubai as a global trade hub. As the platform has now strengthened to 23 nations across Asia, Europe, Africa and South America, it will perfectly position Dubai to emerge as a prominent logistics hub," Dash added.
As the world’s first global freight loyalty scheme, WLP offers members access to three tiers of benefits – silver, gold and platinum – provided by a range of WLP partners including airport authorities, port operators, customs services and others that help to make supply chains more efficient.
Once the WLP is fully operational in a country, members of the WLP, including traders and freight forwarders, can anticipate an annual increase in trade on average of up to 5-10 per cent. The WLP is free to join and open to all countries that meet the entry requirements.
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