SENEGAL is set to boost its position as a trade hub for Africa after it joined the World Logistics Passport, a major initiative by Dubai to link nations around the world and increase South-South trade.
The framework agreement was signed by Amadou Hott, minister of economy, planning and cooperation, the government of Senegal, and Sultan Ahmed Bin Sulayem, chairman of Dubai’s Ports, Customs and Free Zone Corporation on Friday making Senegal only the second country to formally join the scheme after Colombia.
The World Logistics Passport has been created to overcome trade impediments, such as logistics inefficiency, that currently limit the growth of trade between developing markets.
South-South trade is already worth an estimated $4.28 trillion annually, more than half of total developing countries exports in 2018, according to the WTO. But many countries in Asia, Latin America and Africa have much smaller market shares in key export products in
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