Three new institutions now part of the initiative
Three leading institutions in the UAE recently announced they have joined the World Logistics Passport (WLP), a major initiative established to increase trading opportunities between developing markets.
The WLP is helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent developing economies from trading as freely as they might. The new joiners are Etihad Credit Insurance (ECI), Dubai Multi Commodities Centre (DMCC) and flydubai.
The WLP aims to tap into over 20 markets, representing 54% of global GDP. By 2023, the WLP is projected to have about 2% impact on global trade.
To date, Colombia, Senegal and Kazakhstan have formally joined the initiative. Brazil, Uruguay and South Africa have also registered as partners.
“We welcome ECI, DMCC and flydubai to the WLP team, mobilizing infrastructure and expertise to make trade quicker, easier and more cost-effective,” remarked Sultan Ahmed bin Sulayem, Group Chairman and CEO, DP World.
“This collaboration further mirrors our mandate to boost the competitiveness of UAE exporters and protect their receivables when operating in international markets,” commented Massimo Falcioni, CEO, ECI.
“The transformation of logistics, supply chains and distribution channels through projects such as this one without a doubt add immeasurable value to world trade and unlock a host of opportunities,” affirmed Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer, DMCC.
“flydubai has always been committed to facilitating trade and connectivity through Dubai’s aviation hub, and by joining the World Logistics Passport,” noted Ghaith Al Ghaith, Chief Executive Officer, flydubai.
