Dubai: Indonesia has signed a formal framework agreement with the World Logistics Passport (WLP), a major initiative to increase trading opportunities between emerging markets.
Having become the first South-East Asian nation to join the programme following the registration of the Indonesia National Shippers’ Council, the latest agreement marks a major step forward in Indonesia’s implementation of the WLP with the support of government authorities.
The framework agreement was signed by Sultan Ahmed bin Sulayem, Chairman of Dubai's Ports, Customs and Free Zone Corporation (PCFC), and Toto Dirgantoro, Chairman of Indonesia National Shippers’ Council, in the presence of senior government officials in the Indonesian government.
The Council previously registered with the WLP as a benefits provider, an important role within the programme as part of which the organisation will offer discounted market advisory services to WLP members.
The agreement was signed as part of a wider collaboration between the UAE and Indonesia to strengthen bilateral relations, and create opportunities for private and public entities to actively improve existing trading routes and develop new ones, increasing the overall size of annual trade in the two countries.
"We continue to work to realise UAE’s and Dubai’s vision for a more integrated global economy by delivering on the WLP’s objective of removing barriers to South-South trade, building on the city’s growing status as an international centre for trade,” said Sultan Ahmed bin Sulayem, Chairman of Dubai's Ports, Customs and Free Zone Corporation.
The WLP contributes to the Indonesian government’s realisation of its economic plans, which include building transportation nodes and networks across the archipelago, as Indonesia seeks to become one of the world's top five economies by 2045.
“INSC warmly welcomes and supports the WLP programme. With the collaboration between INSC and WLP, it is hoped that Indonesian exporters can reduce logistics costs and improve the nation's economy with greater export opportunities globally specially to Middle East, South America, Africa, Eastern Europe and others. We are optimistic that the WLP network will have a very positive impact on the Indonesian economy. In the next Asia Shippers Council annual meeting, we will propose to make WLP one of the solutions for reducing logistics costs,” said Toto Dirgantoro, Chairman of Indonesia National Shippers’ Council.
The WLP loyalty programme provides traders with a number of financial and non-financial benefits that will facilitate increased trade volumes, spread across a four-tier membership scheme.