Logistics industry to reach $15.5 trillion by 2020
DUBAI: The National Association of Freight and Logistics (NAFL) brought the spotlight on the United Arab Emirates as a global logistics hub at FIATA World Congress, the world’s largest gathering of international freight and logistics experts and decision makers held in Kuala Lampur, Malaysia, from October 4-8.
UAE is among the biggest contributors to the GCC’s logistics sector. With Dubai alone awarding construction contracts worth AED 11 billion this year in preparations for the World Expo 2020 and investing much more toward developing infrastructure and enhancing its logistics facilities in the run up to the Expo, the country offers unparalleled smart
infrastructure facilities for international businesses.
“The UAE’s strategic geographic location, ports facilities, strong and modern infrastructure, make it an ideal hub for hosting international events. The vision of our leadership to adopt the latest innovative technologies, introducing latest innovative transport solutions such as hyperloop, flying taxi, make it an ideal location. Our focus for this participation is to further promote the UAE as a hub of logistics and a top destination for international events,” said Nadia Abdul Aziz, President of NAFL, the oldest association of freight and logistics service providers in the Middle East.
Globally, the logistic industry is expected to reach $15.5 trillion by 2025, at an average annual growth rate of 7.5 percent. As business worldwide becomes increasingly borderless, companies are seeking to expand their operations and are seeking efficient and reliable movement of goods across international borders.
During the five-day congress, the NAFL delegation met with global logistics experts to update, brainstorm, share information and talk about ground-breaking issues pertaining to the industry.
Established in 1992, NAFL has been actively working toward ensuring the UAE’s leading position and Dubai’s pre-eminence in the international freight and transportation fields for the last 25 years.
Earlier this year, NAFL participated in Global Logistics Summit held in Tanzania and Region Africa and Middle East (RAME) conference in Morocco. The Association also signed MoUs with freight forwarders associations in Tanzania and Morocco to work together in promoting efficiency in transit transport and trade facilitation.
NAFL, which has more than 400 members, is a member of FIATA, the International Federation of Freight Forwarders Associations, based in Zurich, Switzerland.