Mumbai, February 03:
The World Logistics Passport (WLP), which aims at increasing trading opportunities between emerging markets, on Wednesday announced the inclusion of India, Indonesia and South Africa as part of the grouping.
As a trade enhancing policy initiative, the WLP is closely aligned with the strategy for India@75 in its aims to boost national competitiveness, increase the efficiency of India’s logistics sector and build tighter economic integration with emerging economies in South and South East Asia, the grouping said in a release.
WLP now counts Mumbai International Airport, Nhava Sheva International Container Terminal, and Emirates SkyCargo in India as partners, it added.
“Today’s announcement shows that governments and businesses are thinking differently about how goods and services move round the world, and we are delighted to welcome India, Indonesia and South Africa to the club,” said Mike Bhaskaran, CEO of the World Logistics Passport.
Bhaskaran further added that “the grouping 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.”
The WLP now looks forward to welcoming the participation of the Ministry of Commerce & Industry to represent the government’s oversight of local operations, and the CBIC (Customs) as a partner, as well as other regional organisations, it stated.
Countries like Colombia, Senegal, Kazakhstan, Brazil, Uruguay and the UAE are already a part of the transnational club that creates opportunities for business across Africa, Asia, Central and South America to improve existing trading routes, and develop new ones, through the world’s first logistics loyalty program for freight forwarders and traders.
It overcomes non-tariff trade barriers by fast-tracking cargo movement, reducing administrative costs, advancing cargo information and facilitating movement between ports and air.
“As more partners join the World Logistics Passport network in India, the opportunities to reimagine how trade moves from Asia to Africa and Latin America multiply. It is a win-win for business as they join a network of fast-growing mega-hubs around the world which, in turn, will help boost their trade flows,” said Rizwan Soomar, CEO & MD, Subcontinent, DP World.