World Logistics Passport

21.12.2020

On December 20, the Minister of Trade and Integration of the Republic of Kazakhstan Bakhyt Sultanov and the Chief Executive Officer of Dubai Ports World, Chairman of the Corporation of Seaports, Customs and Free Zone of Dubai Sultan Ahmed bin Sulayem signed a Memorandum of Understanding.

The Republic of Kazakhstan has joined the World Logistics Passport (WLP), a major initiative created to expand trade opportunities between emerging markets. This initiative aims to overcome trade barriers such as logistics inefficiency improving existing trade routes and developing new ones through a loyalty program for logistics and trade companies.

The Project, which has been operating since July 2019, has already increased volumes of participants trading activities by 10 percent. In addition to Kazakhstan, the following countries are registered as regional hubs and partners of WLP in the World Logistics Passport Program: Colombia, Senegal, Brazil, Uruguay, Thailand and South Africa. Another 8 countries are preparing for integration with the WLP. Joining the WLP opens up an opportunity for Kazakhstan to diversify its mutual trade with the countries of Europe, China and growing markets of Latin America and Africa.

"Kazakhstan can become a link between "One Belt, One Road" Initiative and World Logistics Passport. This will open up new opportunities in the area of transport and logistics, revealing the entire transit potential of the country," Bakhyt Sultanov commented.

It should be pointed out that Almaty will be the key logistics hub of Kazakhstan. Strategic location of the city allows to increase the share of Kazakhstan's trade between China and Europe. "Almaty also provides access to markets in the region, such as the Eurasian Economic Union, the Shanghai Cooperation Organization and the Economic Cooperation Organization, and can be a gateway between these markets and World Logistics Passport partners. Almaty Airport will become an air hub offering a wide range of world-class services," the Press Service of the Ministry of Trade and Integration of Kazakhstan reported.

 

 


 

 




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Saved: 01.12.2022




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