The World Logistics Passport is a path-breaking development in the Logistics sector. This is a global freight loyalty program that has been launched by the Dubai Ruler HH Sheikh Mohammed Bin Rashid Al Maktoum under the directives of the Vice President and Prime Minister of UAE.
The program was launched at the World Economic Forum in Davos in 2020. With four continents and 11 countries adopting the program, it further strengthens Dubai’s position as a strategic trade hub for emerging markets. The program links Customs World, DP World, and Emirates Group, thus improving connectivity through Dubai. The WLP reinforces Dubai’sDubai’s growing status as a major global hub for multi-modal trade.
Speaking on the success of the program, His Highness Sheikh Mohammed bin Rashid al Maktoum said, “The World Logistics Passport is yet another major initiative that reflects the UAE’s vision to shape a brighter future for our world through programs that foster global trade cooperation. In just one year, we have taken the WLP from vision to reality, bringing together several leading nations, logistics partners, and multinational corporations in a close alliance focused on trade growth. The WLP demonstrates once again the UAE’s keenness to work together with other nations to enhance prosperity and expand growth opportunities for businesses at a time when global markets are seeking to renew their momentum for growth.”
The World Logistics Passport program offers numerous benefits, including:
- In return for increased trade, the traders and freight forwarders get to access benefits in each of the trade hubs
- Several businesses get the chance to diversify into new markets like Latin America, South Asia, and Africa
- High performing business get several operational and financial benefits
- In the uncertain times of the pandemic, the Government is assured of competitiveness and economic resilience
- The WLP promises the creation of jobs and enhanced investment
- The program helps in the utilization of financial and non-financial benefits for increased trade volumes by members
- The WLP allows firms to remain internationally competitive by reducing costs and increasing the efficiency of the logistics value chain.
- The WLP Digital Platform taps into a global network of more than 30 partners in 12 hub countries, thus unlocking opportunities that provide access to 20% of the world trade
- The program has top organizations like UPS, Pfizer, Sony, Johnson & Johnson, and LG as its registered members
- The platform creates opportunities for businesses to improve existing trade routes and develop new ones.
Thailand, India, Indonesia, Brazil, Colombia, and South Africa have become a part of the World Logistics Passport. Colombia, Senegal, Kazakhstan, Brazil, and Uruguay have already joined the initiative, aiming to handle a sizable portion of future global trade, with Dubai playing the hub point.
As the President of the Dubai Civil Aviation Authority, H.H Sheikh Ahmed Bin Saeed Al Maktoum (Chairman and CEO of Emirates Group and Chair of the World Logistics Passport-Global Steering Group) states “We are very proud that Dubai has been at the center of this exciting and novel initiative.”
The CEO of the World Logistics Passport – Mike Bhaskaran, states, “Our study has shown that traders were most concerned about the availability of information and experience in local demand and overseas regulation. Furthermore, 68% of respondents reported that they face issues connected with the complexity of clearance processes of goods. We are confident that the World Logistics Passport will tackle issues of traders, increase and enable entry to new markets- by connecting traders to local entities (benefit providers) and help overcome key obstacles to doing business in other markets“. The WLP is counted as the world’s first logistics loyalty program for freight forwarders and traders, incentivizing increased trade through more efficient and cheaper trade processes.