Dubai has launched a major initiative to connect markets in Asia, Africa and Latin America.
It’s called World Logistics Passport, and the details have been revealed at the World Economic Forum in Davos.
The move aims to incentivise companies and traders to use Dubai’s logistics facilities in return for cost and time savings as well as enhanced customs clearances.
In addition to easing the movement of goods, it will help open direct trade routes between developing markets.
Partner countries will be able to leverage the expertise of Dubai’s institutions like Customs World, DP World and Emirates Group that will be linked to the Logistics Passport.
A pilot project has been operational since last year.
Under the directives of @HHShkMohd, World Logistics Passport, a major Dubai initiative to boost South-South trade, was launched at Davos in the presence of government leaders & heads of major corporations from Asia, Latin America, and Africa.https://t.co/qfq86F3rPb pic.twitter.com/MDxckWzRYq
— Dubai Media Office (@DXBMediaOffice) January 22, 2020
UAE outlines vision for low-emission hydrogen economy at World Hydrogen Summit
India, US discuss trade as Rubio cites progress on Iran conflict
ENOC signs deal with Allied Biofuels to explore sustainable aviation fuel supply
Mexico, EU sign stalled trade deal as they aim to diversify from US
Dubai announces 5% VAT on Salik, Parkin fees
