The deal assumes significance as Dubai is one of strategic hubs of logistics operations. Comprehensive Economic Partnership Agreement (CEPA) signed by UAE and India will be operational within one month to simplify customs procedures, reduce logistics cost and open new opportunities for professional services.
Federation of Freight Forwarders’ Associations in India (FFFAI) and National Association of Freight & Logistics (NAFL) based in Dubai, UAE signed a Memorandum of Understanding (MoU) with an aim to form the basis of understanding between the said associations to strengthen, promote and develop cooperation on the basis of equality and mutual benefits. The agreement was formally signed by Shankar Shinde, Chairman, FFFAI and Nadia Abdul Aziz, President, NAFL.
According to the MoU, key areas of FFFAI and NAFL working jointly are as follow: Trade Support, Technology Exchange, Women Participation, Youth Promotion, Members Support Safety, Skill Development and Training, and Business Opportunities among others. The cooperation would also extend to identify and recommend members to securely do business and safeguard and protect them, providing services and support pertaining to payment reliability.
“The MoU is significant in view of the fact that there is a trend of increasing trade between India and UAE and Dubai being one of the strategic hubs of logistics operations. Both FFFAI and NAFL are playing catalyzing roles in trade facilitation in their respective countries i.e. India and UAE. The MoU would further explore new areas for win-win benefits of the members of both the associations in terms of expansion of business and enhancement of skills,” said Shinde. With the recent signing of INDIA-UAE FTA, the trade between India and UAE is expected to touch US $100 billion in the next five years with most Indian products duty free to UAE.
FFFAI is the apex body and the sole representative of 28 member associations from all over India, representing 6,500 custom brokers. The organisation is directly and indirectly connected with freight forwarders, shipping, end to end logistics and international trade and commerce.
NAFL was founded in Dubai in February 1992 as mandated by the Government of Dubai to respond to the need to bring together the increasing number of freight and logistics service providers in the UAE. Apart from trade facilitation, NAFL is playing an important role to spearhead relevant training programmes.
It is pertinent to mention that FFFAI and NAFL are the members of International Federation of Freight Forwarders’ Associations (FIATA), representing freight forwarders in some 150 countries. Based in Geneva, FIATA’s membership is comprises 111 Associations Members and more than 5,500 Individual Members, representing 40,000 freight forwarding and logistics firms worldwide. The MoU was signed during the FFFAI delegation to World Expo 2020 in association with the FIEO organised event—3rd Logix 2022 that started on 21 March 2022 in Dubai.
Meanwhile, CEPA signed by the UAE and India will be operational within one month to simplify customs procedures, reduce logistics cost and open new opportunities for professional services, officials said at the closing of 3rd Edition of LOGIX India in Dubai.