ISP joins WLP to bolster trade and investment opportunities
Dubai, 31 October, 2021 – World Logistics Passport (WLP) and Invest SP (ISP) signed a Memorandum of Understanding (MoU), establishing ISP as a coordinating partner of the WLP. ISP will contribute to eliminating barriers and identifying opportunities that will encourage the faster flow of business opportunities for local traders, creating cost and time efficiencies.
The MoU was signed by Mahmood Al Bastaki, COO of DT World and General Manager of WLP, and Gustavo Diniz Junqueira, President of ISP, at the DP World Flow Pavilion located in Expo 2020 Dubai.
Brazil is the 12th largest country in the world by GDP and the second largest in the Americas. The country has recently announced green investment plans that aim to unlock opportunities that will drive green financing in key sectors including agriculture, transport infrastructure, and renewable energy. Brazil international trade efforts are planning to double bilateral trade efforts with countries such as the UAE over the next five years to reach $5.6 billion.
“Trade ties between Brazil and key economies around the world have always been strong. We are pleased with our collaboration with ISP and are confident that it will help us build bridges and engage with the right stakeholders to pursue long term, fruitful partnerships,” said Mahmood Al Bastaki, COO of DT World and General Manager of WLP.
Brazil trading recorded a 31.2 percent increase in exports from 2020 to reach $25.5 billion and a 57.6% surge in Brazil imports, reaching $18.1 bn in July of this year, with a majority of export activity going out from São Paulo. ISP joins the WLP after Viracopos International Airport, DP World Santos Terminal, Azul Airlines and Santos Port Authority joined the initiatives with the aim to expand commercial opportunities between emerging markets and facilitate easier access to trade in the Middle East, Asia and Africa.
“Brazil presents tremendous growth opportunities for the World Logistics Passport. We welcome ISP as a partner and are confident that our partnership will enable access to a diversified business portfolio that will contribute to growing an international trade profile and unlock business opportunities,” Al Bastaki added.
Members of the WLP can expect to have an annual increase in trade on average of up to 5-10%. As traders enjoy membership benefits such as more effective and efficient cargo trade, this will open up new trade routes and offer access to new markets.
Gustavo Diniz Junqueira, President of ISP: “We are pleased to sign as a partner with the World Logistics Passport for what it presents as an opportunity to diversify investment and trade, and facilitate access to markets such as the Middle East, Asia and Africa – which are of great importance to Brazil’s efforts to achieve socio-economic growth and development.”
São Paulo’s Port of Santos strategic location offers easy access to sea, rail and road and can accommodate an annual movement capacity of 1.2 million Twenty Foot Equivalent Units (TEU). The port is equipped with cutting edge technologies to ensure seamless and efficient output and operations, and is continuously investing in capacity and productivity improvements to better serve customers within its area of influence, accounting for 28% of the country’s international trade.
Viracopos International Airport, located in the city of Campinas was the first airport in Brazil to join the WLP with the objective of expanding and facilitating the commercial promotion of the airport's cargo terminal among countries in the Middle East, Asia, and Africa through new, more efficient air routes to South America. The airport currently receives approximately 40% of all air freight coming into Brazil.