Is a World Logistics Passport a Workable Option?

Knowing the exact contents of cargo would be a big help to insurers of course, but global compliance when containers are moving through several countries on one trip might be a stumbling block. Here’s the press info;

The World Logistics Passport (WLP), a global, private sector-led initiative designed to smooth the flow of international trade and unlock market access, today welcomes ten new countries at its inaugural Global Summit. Taking place virtually the Summit will host a mix of CEOs,  government ministers and representatives of leading international trade bodies to further international cooperation, offering businesses the right conditions, information and incentives to unlock the full potential of global trade. It will culminate in the unveiling of ten new countries which are joining the program, and with a declaration for adoption by all WLP countries in attendance.

As the world’s first global freight loyalty scheme, WLP offers members access to three tiers of benefits – silver, gold and platinum – provided by a range of WLP partners including airport authorities, port operators, customs services and others that help to make supply chains more efficient. Once the WLP is fully operational in a country, members of the WLP, including traders and freight forwarders, can anticipate an annual increase in trade on average of up to 5-10%. The WLP is free to join and open to all countries that meet the entry requirements.

Sultan Ahmed bin Sulayem, Group Chairman and Chief Executive Officer, DP World, said: “Today’s Summit marks an exceptional year for the World Logistics Passport, with the number of countries in this club of trading nations having risen to 23 across the world in just twelve months. The WLP is helping countries grow their economies and create jobs, facilitating access to new markets and increasing the resilience of the global supply chain in the process.”

RESILIENCE INDEX

Discussion leaders at the Summit will also be presenting new, proprietary data from the Global Freight Resilience Index. The analysis, developed by Whiteshield Partners, ranks countries based on their Policy Opportunity and Freight Performance.

Singapore tops the GFRI 2021 rankings, as it has done over the last five years, and it is followed by the Netherlands and Denmark in second and third place respectively. The top 10 countries in the GFRI are again dominated by European countries highlighting the need for programs such as the WLP to upgrade capabilities and accelerate the long-term resilience of logistics and trading capabilities nations in Latin America, Africa and Asia.

The 2021 Index comes at a time when we are learning lessons from COVID-19 which tested logistics systems in 2020. To respond to trends and prepare for disruptions, policy makers can enhance freight resilience by investing in technological innovation, implementing sustainable policies and promote quality engagement with the private sector.

To find out more please visit https://www.worldlogisticspassport.com/wlp-global-summit

About alastair walker 6497 Articles
20 years experience as a journalist and magazine editor. I'm your contact for press releases, events, news and commercial opportunities at Insurance-Edge.Net

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