The World Logistics Passport (WLP), which aims to increase trading opportunities between emerging markets and the rest of the world, has launched its latest digital platform for the ‘redemption of benefits’.
The platform focuses on the utilisation of financial and non-financial benefits for increased trade volumes by members and traders from the various partners in the programme.
Dubai-based traders can now register in the programme as members within the White Tier and redeem over 100 benefits which will unlock operational agility.
The WLP Digital Platform provides participating traders with fast-track access to the programme, tapping into a global network of more than 30 partners, in 12 hub countries, and unlock opportunities within the programme which provides access to 20% of the global trade. Benefits also include up to two additional months for re-export declaration, complimentary access to DP World’s digital, and online solutions including SeaRates and Cargoes Runner.
The announcement came on the back of the WLP’s first Dubai Webinar – a virtual event which brought together nine WLP members, namely Dubai Ports World (DP World), Dubai Chamber, Dubai Customs, Dubai Multi Commodities Centre (DMCC), Emirates SkyCargo, FlyDubai, Dubai South, dnata, and Etihad Credit Insurance (ECI). The event showcased the programme’s key milestones, unveiled new initiatives within the programme, and underpinned the WLP’s geographical focus on South-South trade.
In addition to the Dubai-based partners, the WLP engages major multinational corporations including UPS, Pfizer, Sony, Samsung, Johnson & Johnson, and LG.
As part of the networking event, a study was conducted to measure perceptions and experiences of traders operating through global routes. Insights concluded that the main obstacle faced by traders was accessing new markets, with 60% of all respondents sharing the same sentiment.
Mike Bhaskaran, CEO of the World Logistics Passport, said: “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 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.”
Moreover, transportation costs comprised the majority of cargo costs, signalling that efficiency gains are more important than costs for Dubai traders. Custom fees were seen as an area where the focus of benefits would be most impactful, particularly those related to documentation procedures, as they required a long lead period for clearance.
Omar Khan, Director of International Offices, Dubai Chamber of Commerce and Industry, commented:“Dubai Chamber is proud to support the World Logistics Passport as strategic partner and business enabler. As part of the initiative, the Chamber is providing a wide range of value-added benefits to participating companies from its network of 11 international offices across Africa, Latin America, and Asia, advancing our mission of continuously improving ease of doing business in Dubai, protecting the interests of the private sector, and enhancing the emirate’s economic competitiveness to elevate its status a global business hub.
“We are delighted to introduce our members to this game-changing programme, and we look forward to seeing the positive impact it will create in boosting Dubai’s trade with the rest of the world.”
The WLP creates opportunities for businesses around the world to improve existing trading routes, and develop new ones, through the world’s first logistics loyalty programme for freight forwarders and traders. It overcomes non-tariff trade barriers by incentivising increased trade through more efficient and cheaper trade processes. – TradeArabia News Service