PCFC signs agreement with Vietnam, expands scope of World Logistics Passport

DUBAI, 27th October, 2019 (WAM) -- Dubai recently launched the World Logistics Passport, an initiative of the Ports, Customs and Free Zone Corporation, PCFC, and has been working to expand the role of the leading initiative and promote it among businesses.

The PCFC, represented by Customs World, signed a trade agreement with Vietnam during a UAE delegation's visit to Vietnam, headed by Sultan bin Saeed Al Mansouri, the UAE Minister of Economy, to attend the UAE-Vietnam Trade and Investment Week in Hanoi and Ho Chi Minh City.

The agreement will help expand mutual trade and assist the movement of goods and commodities between the two countries.

The World Logistics Passport offers a set of unique operational and financial advantages for businesses and shipping companies by connecting government entities, including Dubai Customs and Dubai Trade, with logistics service providers such as DP World and Dnata, and assisting commercial transactions among bodies concerned in Dubai.

The passport is designed to boost the role of the Dubai Silk Road programme, which paves the way for a major leap that will expand the UAE's role in the global economy based on the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and increases demand for the emirate’s products, services and integrated transportation systems.

The unique initiative also further raises the growing role played by Dubai Customs in regional and international trade.

Commenting on this, Nadya Abdullah Al Kamali, CEO of Customs World, said, "We are happy to have signed the mutual trade agreement with Vietnam, and to have launched the World Logistics Passport, which will enhance trade activities between Dubai and other countries. Dubai's external trade with Vietnam amounted to AED29.35 billion in 2018, and AED15.5 billion in the first half of 2019."

Al Kamali stated that more agreements are expected to be signed by the end of the year, including with Thailand and Indonesia, to expand the scope of the World Logistics Passport and maximise the benefits delivered to the member states.

"We are developing the initiative, so more features and advantages will be added to the initiative based on market needs and aspirations," she said.