Dubai-led WLP initiative welcomes Brazil’s ISP as new member

By Arya M Nair, Official Reporter
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Brazilian Invest SP (ISP) Corporation and Dubai-led World Logistics Passport (WLP) Initiative have signed a Memorandum of Understanding (MoU) under which the company will help to create business opportunities available to local traders and thus achieve cost and time efficiency.

The MoU was signed in the presence of Mr. Mahmoud Al Bastaki, President of Dubai Trade and General Manager of the WLP Initiative, and Mr. Gustavo Deniz Junquera, Chairman of the Board of InvestSP.

The recently launched green investment plans aim to promote green financing in key sectors such as agriculture, transport infrastructure and renewable energy. Brazil also has announced plans to intensify its bilateral trade efforts with countries including the UAE by $5.6 billion over the next five years.

In July this year, Brazil’s exports increased by 31.2 percent to $25.5 billion, and imports rose by 57.6 percent to $18.1 billion, with Sao Paulo accounting for the majority of export activity.

ISP joined the WLP after Viracopos International Airport, DB World Santos Port, Azul Airlines and Santos Port, with the goal of offering access to trade in Brazil, the Middle East, Asia and Africa.

Mahmood Al Bastaki
Mahmood Al Bastaki
General Manager
WLP Initiative

“We are very pleased that the Brazilian Foundation has joined this initiative. We are convinced that it will help us build bridges and communicate with partners and stakeholders to build long-term fruitful partnerships. Brazil offers enormous growth opportunities for the WLP initiative. We welcome the ISP as a partner and we are confident that our partnership will facilitate access to a diversified business portfolio that will contribute to the development of international trade and provide many business opportunities.”

Members of the WLP Initiative can expect an annual increase in trade of 5 to 10 percent. As merchants benefit from more efficient commodity movements, new trade routes will be opened and new markets will become available.

Mr. Gustavo Dínez Junqueira stated that “Signing a partnership with the WLP initiative enables the diversification of investment, trade and access to markets such as the Middle East, Asia and Africa, which are of great importance to Brazil’s development and development efforts. economic growth.”

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