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.
.@ssulayem, Chairman of #Dubai’s Ports, Customs and Free Zone Corporation: We are delighted Colombia has joined the World Logistics Passport because of its unique geographic location with port access to both the Atlantic and Pacific oceans, and its dynamic and open economy pic.twitter.com/is31mYTEep— Dubai Media Office (@DXBMediaOffice) October 11, 2020
José Manuel Restrepo Abondano, Minister of Commerce, Industry and Tourism for Colombia: Joining the World Logistics Passport will translate into more investment opportunities, which will undoubtedly have an impact on the multi-modal logistics system and the country’s connectivity— Dubai Media Office (@DXBMediaOffice) October 11, 2020