On the afternoon of March 1st, 2023, the World Logistics Passport program (WLP) collaborated with the Vietnam Logistics Service Business Association (VLA) and the Embassy of the United Arab Emirates (UAE) to host the "Signing Ceremony and Launch Forum of the World Logistics Passport (WLP) Program in Vietnam."
Mr. Bader Abdulla Al Matrooshi, the UAE Ambassador to Vietnam, emphasized, "The UAE is Vietnam's largest trading partner in the Middle East region, with a bilateral trade volume of 8 billion USD in 2022. With initiatives like the World Logistics Passport program, we can believe that trade volume will continue to increase by enhancing economic and trade benefits for the signatory partners, thus attracting more participants."
The World Logistics Passport (WLP) is a global initiative led by Dubai and was first announced at the World Economic Forum (WEF) in Davos in January 2020, receiving responses from many countries worldwide. Amid the economic challenges posed by the dual impact of the Covid-19 pandemic and the conflict in Ukraine, the WEF evaluates initiatives like the WLP as contributing to governments' enhanced collaboration in trade and economic recovery by streamlining import and export procedures. The program aims to facilitate global trade flow and has added Vietnam to the list of regional logistics and trade hubs. The WLP program currently collaborates with partners in 29 Hubs within this network to reduce costs, save time, provide support to the network to eliminate trade barriers, unlock multi-modal trade, facilitate comprehensive transaction journeys for traders, and provide access to the global market.
Vietnam, positioned as a strategic hub for transit and production in the region, is expected to become an important Hub within the WLP network. The Vietnam Logistics Service Business Association anticipates that the successful implementation of the WLP program in Vietnam will facilitate trade and logistics activities between Vietnam and the countries within the program, especially markets in Africa and Latin America where domestic enterprises have limited direct logistics service relationships.
Speaking at the event, Assistant Minister of Foreign Affairs Nguyen Minh Hang evaluated that becoming one of the 29 Hubs of the program will contribute to further deepening the involvement of Vietnamese businesses in the global supply chain, enhancing comprehensive national integration, and elevating the country's reputation and position in the international arena. Additionally, the effective implementation of the WLP initiative will strengthen cooperation between Vietnam and the UAE in the logistics sector, promoting bilateral trade exchanges, and contributing to positive outcomes in commemorating the 30th anniversary of diplomatic relations between the two countries in 2023. The Assistant Minister suggested that the UAE government continue to support and provide favorable conditions for opening up Vietnamese export items, strengthening investment, tourism collaboration, and people-to-people connections between the two nations. This would enable Vietnamese businesses to further engage in the global supply chain.
At this event, along with the WLP, 9 organizations and businesses including Vietjet Air, Saigon Premier Container Terminal (SPCT), Saigon Port, Gemadept Port, Lotus Port, Sotrans Logistics, and others, signed partnership agreements to implement the WLP program specifically in Vietnam. Notably, in addition to the 9 signing companies, 22 businesses under the Vietnam Logistics Service Business Association (VLA) have also registered as WLP members.
Cre: MOFA
