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Jeddah - Yasmine El Tohamy - Dubai: Dubai’s initiative to boost trade between developing markets now covers four continents and 11 countries.
The World Logistics Passport (WLP) has expanded its global network coverage to include some of the biggest global markets – India, Indonesia, Thailand, Brazil, Colombia, and South Africa, Dubai ruler Sheikh Mohammed bin Rashid Al-Maktoum said in a statement carried by state news agency WAM
“In just one year, we have taken the WLP from vision to reality, bringing together a number of leading nations, logistics partners and multinational corporations in a close-knit alliance focused on trade growth,” he said.
The WLP was launched in 2020 during the World Economic Forum in Davos, and was part of the UAE’s push to enhance global supply chains and remove trade barriers in developing economies.
Dubai plans to reach more than 20 markets representing 54 percent of global gross domestic product by 2023.
Members of the WLP benefit in different ways, such as increased trade revenue for companies, increased fee generation for state trade authorities, and better knowledge sharing.
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