The Republic of Kazakhstan aims to boost its position as a trade hub for Europe and Asia by joining the World Logistics Passport (WLP), a new initiative established to increase trading opportunities between developing markets. His Excellency Bakhyt Sultanov, Minister of Trade and Integration, Republic of Kazakhstan, and Sultan Ahmed Bin Sulayem, Chairman of Dubai’s Ports, Customs and Free Zone Corporation, signed a Memorandum of Understanding in December.
The WLP creates opportunities for business and governments to actively improve existing trading routes, and develop new ones, through the creation of the world’s first logistics loyalty programme for freight forwarders and traders. It has been created to overcome trade impediments, such as logistics inefficiency, that currently limit the growth of trade between developing markets.
Kazakhstan is the third country to formally join Dubai in sharing expertise to smooth trade flows around the world, after Colombia and Senegal. Brazil, Uruguay and South Africa are also registered as partners of the WLP. Joining the WLP creates an opportunity for Kazakhstan to diversify its exports and imports from Europe and China to growing markets in Latin America and Africa.
Speaking after the MOU signing ceremony, Sultan Ahmed Bin Sulayem said: “The WLP, with Dubai’s expertise in logistics at its core, is helping to reimagine how goods and services move around the world, increase resilience in global supply chains and remove the barriers that prevent nations such as Kazakhstan from trading as prosperously as they might.”