Indonesia signs a framework agreement with the Global Logistic Passport Initiative


The Republic of Indonesia signed a framework agreement with the “Global Logistic Passport” initiative, which is a pioneering initiative launched by Dubai globally early last year with the aim of increasing commercial opportunities among developing markets, as the first country In Southeast Asia, it joins the initiative after registering the “Indonesian National Shipping Companies Council”, which increases the importance of the agreement as an influential step towards implementing the initiative, which is supported by the Indonesian government.

The framework agreement was signed by His Excellency Sultan Ahmed Bin Sulayem, Chairman and CEO of DP World Group and Chairman of the Dubai Ports, Customs and Free Zone Corporation, and Tutu Dirgantoro, Chairman of the Indonesian National Shipping Companies Council, in the presence of a number of senior Indonesian government officials.

The board was previously registered with the initiative as a benefits provider; And it is an important role in the program through which institutions provide consulting services at low cost to members of the global logistic passport.

This step comes within the framework of a more comprehensive cooperation that brings together the United Arab Emirates and the Republic of Indonesia with the aim of strengthening bilateral relations and creating opportunities for private and public institutions to improve trade routes to be more effective and to develop new ones in a way that contributes to increasing trade flows between the two sides.

On this occasion, His Excellency Sultan Ahmed bin Sulayem said: “We are pleased that Indonesia has joined the Global Passport Initiative, with all its strategic position as an important market whose industrial exports are witnessing great demand around the world, and it is also a beacon for economic progress in the ASEAN region. Therefore, its accession to the initiative will reinforce its leadership’s ambitious endeavors to establish Jakarta as a major logistics hub and gateway to trade between the Asia-Pacific region and the rest of the world.

See also  UAE added to UK’s growing travel ban list in blow to influencers

He added, “We are confident that the agreement between the Indonesian National Shipping Companies Council and the Global Logistic Passport initiative will accelerate Indonesia’s path towards seizing opportunities for future economic growth. Through this cooperation, it will also ensure the achievement of the sustainable economic goals that it aspires to for its people, by benefiting from what we enjoy.” It has its expertise and capabilities in establishing the foundations of a global trade center in Dubai. ” His Excellency Sultan bin Sulayem affirmed continuing efforts to translate the vision of the wise leadership in enhancing the UAE’s contributions towards making positive impacts on a wide scale in the regional and international economy, as well as Dubai’s presentation of inspiring and innovative initiatives based on its great balance of economic experience, especially in the commercial field, in order to overcome obstacles. And the multiplicity of opportunities, facilitating ways to benefit from them, and creating higher levels of global economic cooperation.

See also  The foreign royals and billionaire tax exiles collecting UK's furlough millions

The “Global Logistic Passport” initiative will help the Indonesian government implement its economic plans, which include building transportation networks across the archipelago, thus contributing to its aspirations to become one of the five largest economies in the world by 2045, while foreign trade constitutes 43% of Indonesia’s GDP. .

Having become an important center in the initiative, Indonesia will be in a position to expand its reach into other markets such as South America and Africa and it will also be able to develop its economy into a center of re-export.

For his part, Tutu Dirgantoro said: “The Council greatly welcomes the global logistical passport initiative, and affirms its support for this program. Through this cooperation, we look forward to enabling Indonesian exporters to reduce logistical costs and improve the country’s economy, by providing them with greater opportunities to export worldwide, especially “To the Middle East, South America, Africa, Eastern Europe, etc. We are very optimistic about the positive impact of the global logistical passport network on the Indonesian economy. During the upcoming annual meeting of the Asian Shipping Companies Council, we will propose to make the Global Logistic Passport initiative one of the approved solutions to reduce logistical costs.”

The loyalty program in the Global Logistic Passport initiative provides members with a set of financial and non-financial benefits that help increase the volume of trade and are distributed over a membership system that includes four categories. The global brands benefiting from the initiative and its advantages include major participants such as “UPS”, “Pfizer”, “Sony”, “Johnson & Johnson” and “LG”, which are in the platinum category of the program. The Global Logistic Passport initiative also allows participating members to obtain benefits in the gold and silver categories, which vary according to the value and frequency of trade.

See also  At Least 8 Dead In Fire At Yemen Migrant Facility – IOM

The “Global Logistic Passport” serves as a loyalty program aimed at overcoming non-tariff trade barriers by fast tracking the movement of goods, reducing administrative costs, providing shipping information as well as facilitating movement between ports and airports, and it provides merchants and freight forwarders with increasing advantages as the commercial operations they carry out through Centers located in member states.

Advantages include: saving cost, shortening time and speeding up customs clearance. Work to increase such advantages will grant countries and regions access to new markets, diversify trade in existing products, and increase market shares in major export products in developing economies.

It is noteworthy that the development of the “Global Logistic Passport” program has been carried out in partnership with the main logistics service providers in Dubai, such as: Dubai Ports World Group, Emirates Air Cargo Company, and the Ports, Customs and Free Zone Corporation (PCFC).

The post Indonesia signs a framework agreement with the Global Logistic Passport Initiative appeared first on UAE24x7.


Be the first to comment

Leave a Reply