Launched under the directives of Sheikh Mohammed bin Rashid Al Maktoum – Vice President and Prime Minister of the UAE and Ruler of Dubai – at the World Economic Forum in Davos last year to increase opportunities for trade between emerging markets, the World Logistics Passport (WLP), a global freight loyalty programme, has expanded into a global network of trade megahubs in eleven nations.
According to report on gulfbusiness.com, the initiative is being rolled out across four continents. India, Indonesia, Thailand, Brazil, Colombia and South Africa are among the nations that have joined the Dubai-led World Logistics Passport in the past 12 months.
Sheikh Mohammed said: “The World Logistics Passport is yet another major initiative that reflects the UAE’s vision to shape a brighter future for our world through innovative programmes that foster global trade cooperation.
In just one year, we have taken the WLP from vision to reality, bringing together a number of leading nations, logistics partners and multinational corporations in a close-knit alliance focused on trade growth.
“The UAE continues to work with its partners to introduce new initiatives that stimulate trade growth regionally and globally, leveraging its vast expertise in facilitating global trade and its capabilities and experience gained over the years to explore expanded opportunities and create new economic value.”
The WLP allows traders and freight forwarders to access benefits in return for increased trade in each of the programme’s hubs.
By connecting into the WLP network of economies, member businesses have the opportunity to diversify into new markets such as Latin America, South Asia or Africa while shoring up their regional connectivity.
Many major multinational corporations, including UPS, Pfizer, Sony, Johnson & Johnson, and LG have already registered as WLP members.
The initative offers improved competitiveness and economic resilience to governments during economically challenging times. By reducing costs and increasing the efficiency of the logistics value chain, the WLP is helping firms to remain internationally competitive.
Sheikh Ahmed bin Saeed al Maktoum, president of the Dubai Civil Aviation Authority, chairman and CEO of the Emirates Group and chair of the World Logistics Passport Global Steering Group, noted: “ The WLP reinforces Dubai’s growing status as a major global hub for multimodal trade while connecting other nations with similar aspirations in order to drive global trade and economic recovery.”
Sultan Ahmed bin Sulayem, chairman of Dubai’s Ports, Customs and Free Zone Corporation which oversees the WLP, commented: “The rapid development of the WLP demonstrates the world class capabilities that Dubai has developed in the area of trade and logistics, led by key partners such as DP World, Emirates Group and Dubai Customs.
These capabilities can be extended to support not only Dubai but also the wider WLP network of trading nations.”
“Since its launch, the World Logistics Passport has been welcomed by governments and business around the world for the numerous benefits it delivers to local economies, traders and homegrown business. It is a great example of a public – private partnership delivering impact,” said Mike Bhaskaran, CEO of the World Logistics Passport.
The progress of the WLP network will be showcased during the inaugural World Logistics Passport e-Summit in May.