“World Logistics Passport” is a Global freight loyalty programme 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 “ ” to increase opportunities for trade between emerging markets. It allows freight forwarders, traders and business owners to increase trade. By becoming a part of the WLP, business can 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.
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.
It overcomes non-tariff trade barriers by fast-tracking cargo movement, reducing administrative costs, advancing cargo information and facilitating movement across borders. This allows business to take advantage of new commercial opportunities and increase resilience.
“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.”
This network built through this programme has multiple operational & financial benefits to business.
On February 3rd’ 2021 – India became a member of the WLP. along with Indonesia & South Africa, joining Colombia, Senegal, Kazakhstan, Brazil, Uruguay and the United Arab Emirates (UAE) in the club of trading nations. Mumbai international airport (Chhatrapati Shivaji Maharaj International Airport) and Nhava Sheva International Container Terminal in Mumbai are included for this programme.
Mike Bhaskaran, Chief Executive Officer of the World Logistics Passport, said “the initiative increases resilience in global supply chains and removes the barriers that prevent developing economies from trading as freely as they might, which is more important than ever as governments around the world seek to recover from the economic impact of COVID-19”.
“Today’s announcement shows that governments and businesses are thinking differently about how goods and services move around the world. We are delighted to welcome India, Indonesia and South Africa to the club,” he added