World Logistics Passport expands for the first time in China
The World Logistics Passport (WLP) enters China for the first time by signing a memorandum of understanding with the state-owned Fujian Port Group, which joins the Freight Loyalty Program as a partner.
The WLP has also agreed to join the China Silk Road Maritime Alliance.
The WLP will provide Chinese companies with faster and more profitable access to markets in Asia, Latin America, the Middle East and across Africa, with traders and freight forwarders able to increase their trade from 5 to 10% per year on average.
While welcoming Fujian Port Group as its premier partner in China, the WLP is also partnering with the Silk Road Maritime Alliance (SRMA), an alliance of 99 ports and 27 countries.
The SRMA was launched in December 2018 in Fujian Province and is part of China’s Belt and Road Initiative, aimed at âbuilding an efficient and stable service ecosystem of continuous growth by integrating beneficial resourcesâ.
The WLP offers advantages for the movement of high value, low weight goods. The Chinese industries that stand to gain the most from participating in the program are broadcast equipment, computers, office machine parts, telephones and semiconductor devices.
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China is already the world’s largest exporter in all of these product categories – a fact that can be reinforced in 2022 through participation in WLP.
The inclusion of China in the World Logistics Passport strengthens the program’s position in Asia with hubs in India, Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Sultan Ahmed Bin Sulayem, Chairman of Dubai Ports, Customs and Freezone Corporation (PCFC), which owns and manages the WLP program globally, said: âBringing the WLP to the world’s second largest economy is a huge development.
âEfficient supply chains make products and services more competitive, and selling to more markets increases economic resilience. The WLP is helping to achieve this, while strengthening bilateral relations between the People’s Republic of China and the United Arab Emirates.
The Global Logistics Passport (WLP) is a private sector-led global initiative designed to smooth the flow of global trade, unlock market access through the creation of new trade routes, and provide members with economic efficiency gains. .
Chinese merchants and freight forwarders who become WLP members will have access to the various benefits offered by WLP partners, including DP World, Thai Airways and Emirates SkyCargo. Examples of benefits include speeding up freight, reducing customs clearance times, and eliminating administrative costs.
Mr. Zhiping Chen, Party Committee Secretary and Chairman of Fujian Port Group, said: The benefit of WLP, as the world’s leading multimodal freight loyalty program in the world, for companies in China is cost reduction their supply chain, and make the transport of goods and services faster and more efficient. This news will help our country develop its economy and create new jobs. “
The MoU was signed in a virtual ceremony by Mr. Zhiping Chen, Party Committee Secretary and Chairman, Fujian Port Group and Sultan Ahmed Bin Sulayem, Chairman of the PCFC.
The signing event took place on December 7 during the Fujian Business Roadshow in China and Expo 2020 in Dubai, United Arab Emirates.
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