Israel joins "Global Logistics Passport" - an alliance that allows for significant exports • Businesses will save a quarter of transportation costs and a tenth of the time required to export to Southeast Asia
The secret of wealth: a port open to the world
Photography:
Reuters
Another step in strengthening economic relations between Israel and Dubai:
Yesterday (Wednesday) Israel joined as a tenth member of the World Logistics Passport (WLP) - an international alliance led by Dubai, designed to increase trade in world markets and allow Israeli companies to expand trade with countries. The southern.
In doing so, Israel joins countries in the alliance such as India, South Africa, Indonesia, Brazil, Colombia and more.
Archive photo: GPO
Between September 2020 and January 2021, the total volume of trade between Dubai and Israel reached about $ 270 million - a figure that includes 6,217 tons of sea and air cargo that made its way between the two countries.
The main import and export items include mechanical and medical devices, electronic equipment, flat screens, smartphones, diamonds and engine spare parts.
Thanks to the WLP, businesses will be expected to save 25% on transportation costs and 10% while waiting to transport goods, including a significant reduction in the transit of goods between Israel and Southeast Asian countries via Dubai compared to existing transportation routes.
The WLP program will provide businesses with economic and other benefits according to trading volumes and according to a four-level plan.
WLP includes significant players such as UPS, Pfizer, Sony, Johnson, Johnson and LG.
WLP also provides active members with access to a variety of benefits depending on their trading value and frequency.
As part of Israel's participation in the WLP, it will also benefit from membership in aid programs for humanitarian organizations in times of crisis.
In the event of a corona crisis, companies in the WLP program - for the production and distribution of vaccines against the corona virus - will receive immediate benefits in terms of cost and waiting time.
The WLP's humanitarian aid chapter promotes and strengthens Dubai's position as a global logistics hub in times of crisis to transport humanitarian supplies.
Ties will be tightened
It is estimated that with Israel's entry into the program, the two countries will strengthen their ties through close cooperation in the distribution of the vaccine against the corona virus and in the strengthening of its distribution chains.
In addition, Israel will benefit from an increased amount of cargo through Dubai and will be able to offer humanitarian aid organizations an efficient logistical center located in a central location.
Since its launch in 2019, the WLP Alliance has rolled out a total value of more than $ 800 million.
Sultan Ben Sulim said: "Dubai is a major center of world trade with world-class infrastructure, which enables the transfer of goods between countries on high-speed trade routes. Today we welcome the World Logistics Passport initiative to the Association of Chambers of Commerce in Israel. "Through WLP, we strive to create close economic ties and harness our collective experience to open up new trade opportunities for Israel with the world through Dubai, with Tel Aviv as a significant logistics center."
Amir Shani, Vice President of the Association of Chambers of Commerce, added: "We are excited to join WLP's global network partners. We believe that the members of the association will benefit greatly from this global incentive program, expanding the pool of trading opportunities available to them. The supply chain to and from Israel, using Dubai as a logistics hub as a bridge to potential markets of 2.4 billion consumers.Abrahim's agreements and Israel's ties with Dubai enable it to be a player at the regional and global level while opening new trade routes, options and business exchanges. And will encourage business expansion during this difficult period of the outbreak of the corona virus. "