Colombia joins Dubai's World Logistics Passport scheme

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Colombia has joined the World Logistics Passport, which is a major Dubai-led initiative to link trading hubs around the world.

The framework agreement was signed by José Manuel Restrepo Abondano, Minister of Commerce for Colombia, and Sultan Ahmed bin Sulayem, Chairman of Dubai’s Ports, Customs and Free Zone Corporation.

The World Logistics Passport has been created to overcome trade impediments, such as logistics inefficiencies that currently limit the growth of trade between developing markets. 

Designed as a points loyalty scheme, it helps traders and freight forwarders increase their trading volumes through member hubs.

The move aims to incentivise companies and traders to use Dubai’s logistics facilities in return for cost and time savings as well as quicker customs clearances. 

In addition to easing the movement of goods, it will help open direct trade routes between developing markets as well.

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