The World Logistics Passport (WLP) is entering into China market for the first time and signed a Memorandum of Understanding with China’s Fujian Port Group.
The WLP has also agreed to join the Chinese Silk Road Maritime Alliance, which will provide Chinese businesses with faster and more cost-efficient access to markets in Asia, Latin America, the Middle East and across Africa, with traders and freight forwarders able to achieve an annual increase in trade by 5-10% on average.
The WLP offers benefits for the movement of high value, low weight goods. Chinese industries that stand to gain most from participation in the programme include broadcasting equipment, computers, office machine parts, phones and semiconductor devices.
China is already the world’s largest exporter in all of these product categories, a fact which can be reinforced in 2022 by participation in the WLP, commented WLP.
Chinese traders and freight forwarders who become members of the WLP will have access to the different benefits offered by WLP Partners, and enjoy the benefits of fast-tracking of cargo, reducing customs clearance times, and removing administrative costs.
The inclusion of China in the World Logistics Passport will also strengthen the WLP’s position across Asia.
Source: Seatrade Maritime News