![]() In the wake of the global economic disruption caused by the Covid-19 pandemic, it is also seen as a way to bolster competitiveness and economic resilience by reducing costs and improving efficiency. INVESTING IN COMMERCIAL & INDUSTRIAL SECTORS Indeed, a number of multinational corporations including UPS, Pfizer, Sony, Johnson & Johnson, and LG have already registered as World Logistics Passport members. In this way, it will increase the flow of trade between the participating locations, and offer major corporations the opportunity to diversify into developing markets. It is essentially a global freight loyalty scheme, offering benefits to traders and freight forwarders in exchange for increased trade to each of the programme’s “megahubs”. ![]() ![]() ![]() INCREASED TRADE TO MEGAHUBSĪmong the countries currently signed up to the scheme are India, Indonesia, Thailand, Brazil, Colombia and South Africa. The World Logistics Passport scheme was launched by Dubai’s ruler Sheikh Mohammed bin Rashid Al Maktoum at last year’s World Economic Forum in Davos to create an interconnected network of trading “megahubs” in eleven nations across the world. ![]()
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