WORLD LOGISTICS PASSPORT EXPANDS INTO CHINA FOR FIRST TIME
– Fujian Port Group joins as WLP Partner, enabling local businesses to increase annual trade by 5-10% on average
– Market opportunity for WLP members to access growing Chinese consumer market, set to be $12.7T by 2030
XIAMEN, China – 08 December 2021: The World Logistics Passport (WLP) is entering China for the first time by signing a Memorandum of Understanding with State-owned Fujian Port Group, which joins the freight loyalty program as a Partner. The WLP has also agreed to join the Chinese Silk Road Maritime Alliance. The WLP aims to improve trading in China, providing Chinese businesses with faster and more cost-efficient access to markets in Asia, Latin America, the Middle East, and across Africa. The membership allows traders and freight forwarders involved in China exports & imports to achieve an annual increase in trade by 5-10% on average.
Whilst welcoming Fujian Port Group as its first WLP Partner in China, the WLP is also partnering with the Silk Road Maritime Alliance (SRMA), an alliance of 99 ports and 27 countries. The SRMA was launched in December 2018 in Fujian Province and is part of China's “Belt and Road” initiative, aiming to “build an efficient and stable service ecosystem of continued growth by integrating advantageous resources.”
The WLP offers benefits for the movement of high-value, low-weight goods. Chinese industries that stand to gain the most from participation in the program include broadcasting equipment, computers, office machine parts, telephones, and semiconductor devices. China is already the world’s largest exporter in all of these product categories – a fact that can be reinforced in 2022 by participation in the WLP.
Expanding WLP Partners
The inclusion of China in the World Logistics Passport strengthens the programme’s position across Asia with Hubs in India, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam.
Sultan Ahmed Bin Sulayem, Chairman of Dubai Ports, Customs and Freezone Corporation (PCFC), which owns and runs the WLP programme globally, said: “Bringing the WLP to the world’s second largest economy is a huge development. Efficient supply chains make products and services more competitive and selling to more markets increases economic resilience. The WLP helps deliver this, whilst also strengthening bilateral relations between the People’s Republic of China and the United Arab Emirates.”
The World Logistics Passport (WLP) is a global, private sector-led, initiative designed to smooth the flow of global trade, unlock market access through the creation of new trade routes and provides economic efficiencies to members.
Chinese traders and freight forwarders who become Members of the WLP will have access to the different benefits offered by WLP Partners, who include DP World, Thai Airways, and Emirates SkyCargo. Examples of trade benefits include fast-tracking cargo, reducing customs clearance times, and removing administrative costs.