Reimagining Logistics
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WHO WE ARE World Logistics Passport
The World Logistics Passport (WLP) creates opportunities for business and governments to actively improve existing trading routes, and develop new ones, through the world’s first logistics loyalty program for freight forwarders and traders.
The WLP is helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent developing economies from trading as freely as they might.
It was established to overcome trade impediments that limit the growth of trade between developing markets, and builds logistical bridges between manufacturing hubs in Asia, Africa, and Central and South America.
To date Brazil, Colombia, Senegal, Kazakhstan, South Africa and Uruguay have registered as partners of the WLP, with a queue of others building. Senegal, Kazakhstan and Colombia were the first member countries to formally join Dubai in sharing expertise to smooth trade flows around the world.
WHAT IS WLP? Incentive-based loyalty program rewarding traders & freight forwarders for high trade
A loyalty program which enables freight forwarders, traders and business owners to draw the maximum possible benefits from their trading operations.
The WLP overcomes non-tariff trade barriers by fast-tracking cargo movement, reducing administrative costs, advancing cargo information and facilitating movement between and across borders.
This allows business to take advantage of new commercial opportunities and increase resilience.
Unlocking these benefits allows nations and regions to gain access to new markets, diversify trade in existing products towards new markets, and increase market shares in key export products in developing economies.
Only the World Logistics Passport has the scale and capabilities to develop partnerships with key Dubai logistics entities such as DP World, Emirates SkyCargo and the Ports, Customs and Free Zone Corporation (PCFC).
WLP TIERS AND TIMEFRAME
HOW DOES THE WLP WORK
The WLP loyalty program is based on a partnership between traders, freight forwarders and local entities to provide additional trade in exchange for direct benefits. It is structured as a four-Tier Membership scheme: White, Silver, Gold and Platinum, with different levels of incentives. Every year, Tiers membership is re-evaluated based on trade performance, and WLP Members can be downgraded or upgraded by up to one Tier.
To unlock Tiers, traders and freight forwarders need to reach 5% growth for Silver members, outperform market growth by 10% for Gold members and 20% for Platinum members. As they unlock new Tiers, WLP Members enjoy a wider range of benefits and greater time and cost reductions.
Members start in the WLP within different Tiers as follows:
- Global top trading companies, identified by the WLP team, are classified as WLP Anchor Tenants and enjoy Platinum Tiers benefits across all Hubs.
- Selected top trading companies at the Hub level, identified by the local benefit providers and the WLP team, are registered immediately at the Silver Tier in the first year.
- Selected top trading companies at the Gateway level, identified by the freight forwarders associations and the WLP team, are registered immediately at the Silver Tier in the closest Hub in the first year.
- Other companies join the WLP at the White Tier and can be upgraded by up to one Tier per year by reaching trade growth targets in consecutive years.
WLP GOVERNANCE
The WLP governance structure is divided into three main levels of bodies for coordination: Annual Assembly, Global Steering Committee and Hub Boards. Once a year, the WLP Annual Assembly chaired by H.H. Sheikh Ahmed bin Saeed Al Maktoum and Co-Chaired by the Chair people of Hub Boards will gather to discuss new directions and policy development opportunities for the program on a global level. Every three months, a Global Steering Committee chaired by H.H. Sheikh Ahmed bin Saeed Al Maktoum will meet to discuss direction for the global WLP program and quarterly development. The WLP Hub Boards, which are the local decision-making bodies in each Hub, will meet regularly to monitor progress, approve potential new benefits and agree on immediate actions.
WLP GOVERNANCE STRUCTURE
At the local Hub level, WLP governance is divided into three pillars. WLP Key Partners are entities, typically customs, airport / port authorities and airlines, which register as benefit providers in the Hub. They sit jointly with WLP representatives on the WLP Hub Board. Both WLP Partner Registration Agreements and Member Registration Agreements clearly detail the conditions of partnership and membership to the program.
THREE PILLARS OF STAKEHOLDERS IN THE WLP ECOSYSTEM
Our Core Belief
Trade is a valuable economic tool. It enables countries to meet their development potential and is the single best way of providing a public good for nations and their citizens.
Opening up and facilitating lower friction trade to newer markets provides these countries with an opportunity to unlock their economic potential.
The World In Which We Operate
The balance of economic power in the world is shifting from developed to developing economies.
Within this context, COVID-19 - and the associated disruption in logistics and supply chains - has caused people and businesses alike to become newly aware of vulnerabilities in the global supply chain.
Growing out of this newfound awareness, there is an opportunity to think differently about how goods and services move around the world and an imperative to improve the resilience of global trade.
Developments in 2020 sit within a broader trend of economic power shifting towards nations and regions experiencing huge growth and dynamism across the global South.
Given Dubai’s long experience of trading with these regions as well as its available resources and geographic location, it is in a unique position to play an increasingly influential role in facilitating the movement of goods around the world.
