Wednesday, March 17, 2021

Freight Loyalty Programme Sees Another Nation Sign Up

WLP Moves In on South America
Shipping News Feature

URUGUAY – WORLDWIDE – The World Logistics Passport (WLP), a loyalty programme which aims to overcome non-tariff trade barriers by incentivising increased trade through more efficient and cheaper trade processes, gained more ground this week.

Spawned in the UAE the Passport saw Uruguay’s Ministry of Foreign Relations sign a Memorandum of Understanding (MoU), meaning more than ten countries are now part of the policy initiative, with trading nations including India, South Africa and Indonesia, amongst others.

As one of the first South American countries to engage in the programme, this week’s announcement follows the registration of Montevideo Free Airport and solidifies the country’s standing in the WLP. Uruguay’s location offers the WLP a connection to targeted gateway countries including Paraguay, Argentina, and Chile. The region will also benefit significantly from the infrastructure and logistics expertise of Dubai-based WLP partners, such as DP World and Emirates Skycargo.

The MoU was signed by His Excellency Francisco Bustillo, Minister of Foreign Relations of Uruguay and His Excellency Sultan Ahmed Bin Sulayem, Chairman of Dubai's Ports, Customs and Free Zone Corporation (PCFC), signalling a clear commitment from the government of Uruguay to grow the country’s trade volumes. Minister Bustillo commented:

“We understand that the signing of this Memorandum of Understanding contributes to the formation of relevant business alliances for the international economic insertion of Uruguay and, above all, capitalises on the credentials and prestige that our country has garnered internationally.

”It is also positive in as much as it facilitates the transit of goods, favouring a possible reduction in freight costs, which if it happens, could favour our export sector and the entire economy. In addition, this memorandum of understanding will provide a constant exchange of knowledge and commercial experiences, which will be extremely beneficial for public and private agents”

The WLP intends to create 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. Mike Bhaskaran, CEO of the World Logistics Passport, said:

“Since its launch, the World Logistics Passport has been welcomed by governments and business around the world for the numerous benefits it delivers to local economies, traders and home grown business.

”Our rapid and continued inclusion of new members and partners underscores the importance of increasing trading opportunities between emerging markets. We now stand together in a club of 11 trading nations demonstrating how it is possible to build a resilient trade ecosystem and reimagine how goods and services move around the world.”