The World Logistics Passport (WLP), a major policy initiative established to increase trading opportunities among emerging markets, on Wednesday announced India, Indonesia and South Africa as members.
They join Colombia, Senegal, Kazakhstan, Brazil, Uruguay and the United Arab Emirates (UAE) in a club of trading nations sharing expertise to smooth trade flows around the world.
The WLP creates opportunities for business across Africa, Asia, Central and South America 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 fast-tracking cargo movement, reducing administrative costs, advancing cargo information and facilitating movement between ports and air.
The WLP now counts Mumbai international airport (Chhatrapati Shivaji Maharaj International Airport) and Nhava Sheva International Container Terminal in Mumbai besides Emirates SkyCargo in India and Nepal as partners.
Mike Bhaskaran, Chief Executive Officer of the World Logistics Passport, said the initiative increases resilience in global supply chains and removes the barriers that prevent developing economies from trading as freely as they might, which is more important than ever as governments around the world seek to recover from the economic impact of COVID-19.
"Today's announcement shows that governments and businesses are thinking differently about how goods and services move around the world. We are delighted to welcome India, Indonesia and South Africa to the club," he said in a statement.
( With inputs from ANI )
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