International Finance

Dubai Silk Road: World Logistics Passport launched

Dubai World Logistics Passport
The passport will offer operational and financial services benefits for shipping and business firms

Dubai recently launched the World Logistics Passport as part of the Dubai Silk Road strategy, according to media reports. The launch marks the implementation of the strategy’s first phase. 

The World Logistics Passport will offer a host of benefits through operational and financial services for shipping and business firms. This is possible by establishing a link between government entities such as Dubai Customs and Dubai Trade with logistics providers such as DP World and Dnata. 

Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority, told the media that, “Dubai’s sophisticated logistics services will further enhance its value offering for investors and businesses by saving time and effort and reducing their operational costs. This is a powerful tool that will eventually lead to increased revenues. We are keen to offer investors and businesses new advantages in conducting global trade.”

In March, the Dubai Silk Road strategy was approved. The strategy’s vision is to establish a global strategic trade link. It has nine initiatives and 33 projects that will lead to a collaboration between Emirates airline, Dubai Airports, Dubai South, Dubai Free Zones Council, Dubai Maritime City Authority , Dubai Roads and Transport Authority, DP World, Dubai Municipality and Jebel Ali Free Zone. 

The World Logistics Passport will play a significant role in promoting the Dubai Silk Road strategy and integrated transport systems. The strategy will offer state-of-the-art logistics services using smart applications. 

Dubai’s logistics sector is expected to offer value to investors and businesses by lowering operational costs and increasing revenue in the long-run. 

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