Brazil’s InvestSP Joins The Global Logistics Passport Initiative

Brazil’s InvestSP joins the Global Logistics Passport Initiative

DUBAI, (Pakistan Point News - 31st Oct, 2021) Brazilian Invest SP Corporation and the Global Logistics Passport Initiative signed a Memorandum of Understanding (MoU) under which the company will act as a coordinating partner that helps create business opportunities available to local traders and thus achieve cost and time efficiency.

The MoU was signed in the presence of Mahmoud Al Bastaki, President of Dubai Trade and General Manager of the Global Logistics Passport Initiative, and Gustavo Deniz Junquera, Chairman of the board of InvestSP.

Brazil is the second largest country in the world in terms of GDP and the second largest in America. The recently announced green investment plans aim to provide opportunities that promote green financing in key sectors such as agriculture, transport infrastructure and renewable energy. Brazil also recently announced plans to redouble its bilateral trade efforts with countries including the United Arab Emirates over the next five years to reach $ 5.6 billion.

Mahmoud Al Bastaki said: "Trade relations between Brazil and major economies around the world have always been strong, and 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 recorded a 31.2 percent increase in exports compared to 2020 to reach $ 25.5 billion, and a 57.6 percent increase in imports to $ 18.1 billion in July this year, with Sao Paulo taking over the bulk of export activity. ISP joins the global logistics passport after Viracopos International Airport, DB World Santos Port, Azul Airlines and Santos Port joined the initiative, with the aim of promoting trade opportunities between emerging markets and facilitating access to trade in Brazil, the middle East, Asia and Africa.

Al Bastaki added: "Brazil offers enormous growth opportunities for the Global Logistics Passport 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 Global Logistics Passport Initiative can expect an annual increase in trade of 5-10%. As merchants benefit from more efficient commodity movements, new trade routes will be opened and new markets will become available.

Gustavo Dínez Junqueira said: "Signing a partnership with the Global Logistics Passport initiative enables the diversification of investment and trade and facilitates 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."

Santos Port’s strategic location in São Paulo provides easy access to the sea, rail and road networks and can handle an annual transport operation of 1.2 million twenty-foot equivalent units (TEU). DB World Santos is equipped with the latest technology to ensure smooth and efficient operation. Viracopo’s airport in Campinas was the first airport in Brazil to join the Global Logistics Passport initiative with the aim of commercializing the freight terminal at the airport in the countries of the Middle East, Asia and Africa.