Malaysian market joins World Logistics Passport
The Portland Opportunities Industrialization Center (POIC) Sabah Sdn Bhd in Malaysia 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 joining of the Malaysian company to WLP is projected to enhance Malaysia’s access to global markets and strengthen the programme in the country and across Asia, offering key businesses unmatched opportunities and benefits.
Malaysia is a strategic ally to many trading destinations. As the POIC joins the WLP, traders and freight forwarders in Malaysia who join the programme will have the opportunity to boost trade activity across the country and support local companies by getting access to fast-tracking of cargo movement, reducing administrative costs, and facilitating trade across borders, according to POIC Sabah CEO, Datuk Fredian Gan.
POIC Sabah Sdn Bhd owns and operates POIC Port Lahad Datu, which covers the integrated port facilities and logistics infrastructure in the Lombok-Makassar Straits of Indonesia, comprising a container terminal with an annual capacity of 250,000 TEU.
POIC’s recent joining of the World Logistics Passport will go beyond deepening the close trade relations that connects Malaysia to key geographies but will also provide increased accessibility to international markets, such as Mexico, Malaysia’s export market and a WLP Gateway, as well as China, Singapore and the United States, according to a statement.
“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,” stated POIC Sabah CEO, Datuk Fredian Gan.