Agreement signed with Federation of Israeli Chambers of Commerce, marking Israel as the tenth nation in the WLP
The World Logistics Passport (WLP), a major policy initiative established to increase trading opportunities between emerging markets, recently welcomed Israel as a participant in the programme, marked by a virtual signing ceremony with the Federation of Israeli Chambers of Commerce.
The signing ceremony was attended by Sultan Ahmed Bin Sulayem, Chairman, Dubai’s Ports, Customs and Free Zone Corporation (PCFC), and Amir Shani, Vice President of the Federation of the Israeli Chambers of Commerce.
“Through the WLP we aspire to forge closer economic ties and harness our collective experience, to unlock new trade opportunities for Israel with the world, via Dubai, and with Tel Aviv as a major logistics centre,” remarked Bin Sulayem.
Trade between Dubai and Israel reached a value of AED 1bn (US$ 272mn) between September 2020 and January 2021. This included 6,217 tonnes of sea-freight and air-freight moving between the two nations. Major imports and exports included mechanical and medical devices, electronic devices, flat screens, smart phones, diamonds, and engine spare parts.
“We believe our members will greatly benefit from this global incentives programme to expand their trade opportunities,” commented Shani.
This partnership will allow Israeli companies to reduce cost and improve their supply chain to and from Israel using Dubai as logistical hub for new markets.
The Abrahams Accords and Israel’s connection to Dubai enables it to become a regional and global player and open new trade routes, possibilities and business exchange.
