Israel Becomes 10th Country To Join UAE-Led International Trade Program
Israel on Wednesday became the 10th country to join the United Arab Emirates-led World Logistics Passport program, in a move that will allow Israeli firms to expand trade to countries in the southern hemisphere.
India, South Africa, Indonesia, Brazil and Columbia are all members of the WLP.
At a virtual ceremony to sign the agreement, Sultan Ahmed Bin Sulayem, the chairman of Dubai’s Ports, Customs and Free Zone Corporation said, “We welcome the Federation of Israeli Chambers of Commerce (FICC) into the World Logistics Passport, as we further strengthen and elevate ties between our two nations. Through the WLP, we aspire to forge closer economic ties and harness our collective experience, to unlock new trade opportunities for Israel with the world, via Dubai, and with Tel Aviv as a major logistics center.”
FICC vice president Amir Shani said, “This partnership will allow Israeli companies to reduce cost and improve their supply chain to and from Israel, using Dubai as a logistical hub for new markets.”
Read More: JNS