(3minutes read)
· South Africa, along with India and Indonesia have joined the World Logistics Passport (WLP), a forum established in 2019 for boosting trading opportunities between emerging markets
· The other emerging countries, which area already members of the group include Columbia, Senegal, Kazakhstan, Brazil and Uruguay
· The WLP creates opportunities for businesses across Africa, Asia, Central and South America to improve existing trading routes, and develop new ones
South Africa, along with India and Indonesia have joined the World Logistics Passport (WLP), a forum established in 2019 for boosting trading opportunities between emerging markets. The other emerging countries, which are already members of the group include Columbia, Senegal, Kazakhstan, Brazil and Uruguay.
The WLP creates opportunities for businesses across Africa, Asia, Central and South America to improve existing trading routes, and develop new ones. The group is billed as the world’s first logistics loyalty program for freight forwarders and traders designed to overcome non-tariff trade barriers by fast-tracking cargo movement, reducing administrative costs, advancing cargo information and facilitating movement between ports and air.
For instance, if the cargo has to be moved from Jakarta to Johannesburg, transporting high-value, low-weight goods through historically established transport routes in Europe takes considerably longer time adding to cost. If the goods pass-through Dubai or any other route of a member country of WLP, traders can expect to save 25 percent on freight costs and 10 percent on transit time moving goods from Indonesia to South Africa.
