POIC Sabah Sdn Bhd has joined the World Logistics Passport (WLP), the world’s first freight programme designed to increase trading opportunities between markets and accelerate the flow of global trade.
The participation is expected to enhance Malaysia’s access to global markets and strengthen the programme in the country and across Asia, offering key businesses unmatched opportunities and direct benefits.
With POIC joining the WLP as a hub, traders and freight forwarders in Malaysia who join the WLP will have access to benefits offered by the programme and its partners, including Johor Port, which will significantly contribute to reducing time and costs, unlocking potential to facilitate faster flow of trade.
The MoU was signed by Mahmood Al Bastaki, general manager, WLP and Rose Pun, head of marketing and sales division, POIC. Witnessing the event were Datuk Dr Joachim Gunsalam, Deputy Chief Minister III and Minister of Industrial Development of Sabah and Thomas Logijin, Permanent Secretary, Ministry of Industrial Development (MID) at the Malaysian Pavilion in Expo 2020 Dubai.
POIC owns and operates POIC Port Lahad Datu which covers the advanced and integrated port facilities and supply chain and logistics infrastructure in the Lombok-Makassar Straits. It comprises a container terminal with a capacity to handle 250,000 TEU’s per annum, dry bulk terminal, liquid bulk terminal and a barge berth.
Mahmood said, “Malaysia is a strategic partner that brings unmatched benefits to the WLP programme. Our previous efforts to bolster the programme – such as welcoming the Johor Port – a core part of the Johor Straight shipping infrastructure and today, with POIC Sabah Sdn Bhd, are a testament to the potential to further enhance the WLP offering, bringing true value to businesses, other WLP partners and members. POIC’s joining of the WLP is a milestone achievement that reiterates our efforts to enable increased access to trade routes.”
POIC’s entry into the WLP will go beyond deepening the close trade relations that connects Malaysia to key geographies; it will also provide increased accessibility to international markets, such as Mexico – Malaysia’s fastest growing export market and a WLP gateway – as well as China, Singapore and the US.
POIC CEO Datuk Fredian Gan said, “WLP’s intentions in increasing trade between emerging markets is the kind of global alliance that fits into our plan of developing POIC Lahad Datu as a regional processing and logistics hub in the eastern region. The WLP hopes to supercharge supply chain development and bridge the gaps between manufacturing hubs that are expanding across emerging markets, particularly in Southeast Asia and Africa.”
Malaysian traders and freight forwarders will also have the opportunity to boost trade activity across the country, support local companies and create employment opportunities by getting access to a benefit that include fast-tracking of cargo movement, reducing administrative costs, advancing cargo information, and facilitating trade across borders