The World Logistics Passport makes it easier for countries in Asia, Africa, South and Central America to diversify trade in existing products and increase market shares in key products among other developing economies.
Senegal, Kazakhstan and Colombia were the first member countries to formally join Dubai in sharing expertise to smooth trade flows around the world. Brazil, South Africa and Uruguay are also registered as partners of the WLP.
WLP Members are traders and freight forwarders which register to the WLP program on a global level for all entities within their groups.
The key principles of WLP membership and access to benefits are:
- Global membership with local Tier status: While WLP membership is global, benefits are unlocked in each Hub based on the trade contribution in the Hub and the respective Tiers. Thus, a member might be Platinum Tier in one Hub and Silver Tier in another Hub, enjoying the corresponding benefits associated to each Tier.
- Tier status accumulation based on 'ownership' of cargo in a particular Hub: Trade value accumulated by each entity is based on ownership of the cargo in a particular Hub. A trader would have its trade value accumulated in origin and destination Hubs for importers and exporters respectively, whereas freight forwarders would have trade value accumulated for transit transactions and for import for re-export transactions.
- Benefits provision based on local Tier status and applicability: Members are entitled to applicable benefits in a Hub based on (1) their Tier status in each Hub and (2) the type of benefit provided and whether it’s targeting the trader or the cargo agent.
- Subsidiary accounting with group recognition: While each entity will be accounted for separately, the Tier status to be provided to a group of companies (relationship proved by holding/parent company as well as the subsidiary).