China’s state-owned Fujian Port Group signed a Memorandum of Understanding on Tuesday 7 December with The World Logistics Passport (WLP) freight loyalty programme.
The memorandum marks WLP’s first partnership in China to strengthen the programme’s position across Asia with Hubs in India, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
WLP is a global, private sector initiative designed to ensure a smooth flow of global trade and enable access to new markets by building new trade routes and offering economic solutions to its members.
The WLP offers Chinese businesses faster and cost-efficient access to markets in Asia, Latin America, the Middle East and Africa, allowing traders and freight forwarders to achieve an estimated 5-10 per cent annual increase in trade volumes.
Additionally, WLP is partnering with the Chinese Silk Road Maritime Alliance (SRMA), an alliance of 99 ports and 27 countries, launched in December 2018 as part of the Chinese “Belt and Road” initiative to “build an efficient and stable service ecosystem of continued growth, by integrating advantageous resources.”
“Bringing the WLP to the world’s second-largest economy is a huge development. Efficient supply chains make products and services more competitive, and selling to more markets increases economic resilience.
The WLP helps us to deliver this, whilst also strengthening bilateral relations between the People’s Republic of China and the United Arab Emirates,” Dubai Ports, Customs and Free zone Corporation (PCFC) Chairman, Sultan Ahmed Bin Sulayem said.
The WLP is expected to reinforce China’s position as the world’s largest exporter of high value, low weight goods by offering seamless transportation of broadcasting equipment, computers, office machine parts, telephones and semiconductors.
“WLP, the world’s first multi-modal global freight loyalty scheme, [offers] many benefits to businesses in China [including] the reduction of supply chain costs, moving goods and services faster and more efficiently. This will help grow our country’s economy and create new jobs,” Fujian Port Group Secretary of Party Committee and Chairman, Zhiping Chensaid.
As per the memorandum, Chinese traders and freight forwarders who become WLP Members will have access to the benefits offered by WLP’s extensive list of partners including DP World; Thai Airways and Emirates SkyCargo; such as reduced customs and cargo clearance time, and waived administrative costs.
