An MOU for a Shanghai FTZ
Port and terminal operator DP World has inked a memorandum of understanding (MOU) for an engagement in the Lin-Gang Special Area, a free-trade zone (FTZ) in Shanghai. The MOU was signed in a virtual ceremony with the Shanghai Lin-Gang Economic Development Group. DP World will share its experience from Jafza, its flagship free zone in the UAE.
Jafza combines with Jebel Ali Port to form a system for around 9,000 companies; it serves more than 3.5 billion people by connecting directly to 150 ports and more than 180 shipping lanes. There are more than 40,000 corporations registered in Lin-Gang, including Tesla, which operates a model 3 factory, Caterpillar and others.
Lin-Gang Special Area’s position in southeast Shanghai makes it a useful node for Shanghai coastal thoroughfares with access to waterways, air routes, railways, highways, inland rivers and the subway.
This step into Shanghai is also a milestone to further deploy the World Logistics Passport (WLP) programme, a global initiative designed to smooth the flow of global trade. (sh)