Vietnam to be key logistics, trade hub of WLP network due to location

04 Mar '23

2 min read

Pic: Adobe Stock

Vietnam will turn into a key logistics and trade hub of the World Logistics Passport (WLP) network due to its strategic position as the transshipment and manufacturing hub of the region, WLP manager and lead of partnerships and hubs Abdulla Alsuwaidi told a recent seminar in Hanoi that launched the global, private sector-led initiative there.

The possibility of strengthening cooperation on logistics between Vietnam and the United Arab Emirates (UAE) was also discussed at the event.

WLP is designed to smoothen the flow of global trade, unlock market access and provide economic efficiencies to members. Enabled by key logistics partners such as airports, ports, and customs, WLP offers financial and non-financial benefits to traders and freight forwarders as a reward for increasing trade.

Vietnam is listed among 29 regional logistics and trade hubs of the programme from May 2021, with five businesses becoming its partners.

UAE ambassador to the country Bader Abdulla Al Matrooshi said that his kingdom is one of the largest trade partners of Vietnam in the Middle East and trade between the two sides is expected to increase through the improvement of trade and economic interests of WLP signatories, thus drawing more partners, according to a report in Vietnamese media outlet.

Twenty two enterprises offering logistics services in Vietnam have registered to participate as members of the WLP programme till now.

Fibre2Fashion News Desk (DS)

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