WLP 2022: Multilateral Declaration Adopted to Bolster Global Trade

WLP 2022: Multilateral Declaration Adopted to Bolster Global Trade

World Logistics Passport has grown to over 40 member countries, covering nearly half of global trade, and aims to grow to cover 75% of global GDP by 2025

The World Logistics Passport (WLP), announced at its second Annual WLP Global Summit that it has nearly doubled in size in its second year of operation, with its presence it now covers more than 40 countries and nearly half (47%) of global trade.

WLP members including India, Vietnam, Mexico, Colombia and Brazil, among others, are to adopt a new declaration to accelerate global trade.

The Summit hosted a mix of CEOs, government ministers and representatives from leading international trade bodies, and agreed on a joint statement on the future direction of global trade.

Representatives included His Highness Sheikh Ahmed bin Saeed al Maktoum, Chairman, Emirates Group, Tatiana Clouthier, Secretary, Economy, Mexico, Neville Matjie, Executive Director of Trade and Investment KwaZulu-Natal and Col Mamadou Gueye, Head of Guidance and Prospective Division, Senegal Customs.

Tatiana Clouthier presented the declaration which established that sustainable and inclusive global trade is essential for economic growth, resilience and multilateral cooperation, while setting out the WLP's ambition to cover 75% of global nominal GDP by 2025.

The World Logistics Passport (WLP) is a global, private sector-led initiative designed to drive the flow of global trade, unlock market access through the creation of new trade routes and provide economic efficiencies to members.

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With nine members throughout Latin America, the WLP is present in key economies such as Brazil, Colombia , Chile and Mexico.

In June 2022, the WLP conducted tours to Chile, Brazil, and Colombia , increasing the visibility of the WLP across the continent and allowing for trade facilitation opportunities.

For example, an event with coffee exporters was held in Santos, Brazil, to discuss opportunities to diversify exports to the Middle East through the WLP network.

Another event in Chile was attended by more than 50 business leaders and high-level government officials, including the president of the Chilean Senate.

At the Summit, the Global Cargo Resilience Index 2022, developed by Whiteshield, showed that cargo resilience has increased across all developing regions, including the Middle East, Africa, Latin America, and Asia Pacific.

The index consists of two sub-pillars: Policy Timeliness and Freight Performance. Mexico and Colombia were specifically called out for notable increases in cargo resiliency amid continued pressure on global supply chains.

In the past year, the WLP's mandate has also grown to become a trade facilitator. Today, WLP strengthens cooperation by supporting customs authorities with efficient and secure trade.

Additionally, the WLP is unlocking and improving trade routes across its unique network of partners and members, increasing trade in high-value commodities such as coffee, precious metals, and consumer electronics.

Mahmood Al Bastaki, General Manager of World Logistics Passport, stated: "At last year's inaugural WLP Global Summit, Sultan Ahmed bin Sulayem announced that the WLP network had grown to cover 23 countries.

"I am now pleased to announce that our network has almost doubled, and the WLP now spans 43 countries, representing 47% of global trade.

"In addition, our network now consists of 121 WLP partners with more than 240 confirmed benefits, both cost and efficiency related, offered to around 1,000 companies that have opted to participate in the WLP program worldwide."

Read More: Mexico Joins the World Logistics Passport

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