Membership will enable Kazakhstan to increase exports to Latin America and Africa
The Republic of Kazakhstan is boosting its position as a trade hub for Europe and Asia by joining the World Logistics Passport (WLP) a major initiative established to increase trading opportunities between developing markets.
HE Bakhyt Sultanov, Minister of Trade and Integration, Republic of Kazakhstan, and Sultan Ahmed Bin Sulayem, Chairman of Dubai’s Ports, Customs and Free Zone Corporation, recently signed a Memorandum of Understanding to this effect.
Kazakhstan is the third country to formally join Dubai in sharing expertise to smooth trade flows around the world, after Colombia and Senegal. Brazil, Uruguay and South Africa are also registered as partners of the WLP.
“Kazakhstan can become a link between the Belt and Road Initiative and the World Logistics Passport. This will open up new opportunities in the field of transport and logistics, revealing the entire transit potential of the country. Almaty will become the key logistics hub of Kazakhstan,” commented Sultanov.
Membership of the World Logistics Passport will enable Kazakhstan to access lesser tapped markets. The country’s strategic location allows Almaty, its largest city, to increase its share of trade between China and Europe via Rail.
“Trade is a vital part of economic development and with the addition of Kazakhstan to the World Logistics Passport, the nation is accelerating its future economic growth,” remarked Bin Sulayem.
