The World Logistics Passport (WLP) is expanding in Dubai with the joining of the Department of Planning and Development (Trakhees), the regulatory arm of Ports, Customs and Free Zone Corporation in Dubai (PCFC).
The WLP is the world’s first freight loyalty programme designed to increase trading opportunities between markets and accelerate the flow of global trade.
Joining as a partner, Trakhees will enable WLP members to benefit from enhanced efficiencies that will facilitate the continued growth of Dubai’s non-oil external trade.
Sultan Ahmed bin Sulayem, the Chairman of PCFC, praised the WLP programme for its contribution to increasing and improving international trade. He expressed his optimism about Trakhees joining the WLP programme as a partner, as this will support it in its mission to enhance and develop its services in the country.
He also highlighted that the recent partnership between WLP and Trakhees will support the economy, by enhancing productivity within the national logistics sector.
Mike Bhaskaran, CEO of WLP, said,
"We are proud of the WLP’s milestone achievements since its launch. To date, we count more than 15 countries in the WLP network and 15 partners in our Dubai Hub. We will continue to make steady strides to bolster trade with countries worldwide and identify opportunities that will strengthen relations across the WLP."
Recent statistics indicate a 10 percent growth in Dubai’s non-oil external trade in the first quarter of the year, and trade through free zones, in particular, rose up by 2 percent to AED135 billion – both positive indicators of the country’s rapid economic recovery.
For his part, Abdullah Belhoul, CEO of Trakhees, welcomed the agreement, saying that the
"WLP is an integral part of the global market to promote international trade. Joining the WLP programme will enhance the licensing services to become more competitive, which will open the horizon to reach new markets and increase the resilience of our national economy."
The WLP was launched at the 2020 World Economic Forum in Davos and is designed to provide traders with benefits to facilitate access to new markets and diversify trade. As the world’s first multi-modal global freight loyalty scheme, the WLP offers businesses an array of benefits, including quicker clearance and priority handling, which significantly reduces supply chain costs – ultimately making moving goods and services faster and more efficient.
Traders and freight forwarders that are members of the WLP can expect to have an annual increase in trade on average of up to 5-10 percent. Free to join, the WLP is inclusive, covering the entire trade ecosystem from freight and logistics to trade finance.
News Source: Emirates News Agency
