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  • Writer's pictureTeam CargoTalk

UAE, Kingdom of Bahrain lead World Bank’s LPI 2023

UAE was ranked first as the ‘Most Improving Country in the GCC. The UAE’s logistics market size is expected to grow by AED 43.59 billion (US$11.87 billion) between 2021 and 2026, as per a recent report by the global research firm, Technavio. The Kingdom of Bahrain has set a record as the ‘Most Improving Country in the GCC’, ranking second in the Arab world. Owing to the milestone projects and initiatives delivered within the logistics sector across the past years, the Kingdom advanced 25 ranks on the index and 58 positions on the ‘Timeliness Subindex’ to reach second in the MENA (10th globally) because of the least aviation import dwell time. Bahrain ranked first in the GCC owing to minimal delay observations in imports and exports. The World Bank report offers a review of the trade logistics performance, collecting data from May to October 2022 across 139 countries, using six components assessing efficiency of customs clearance, quality of trade and transport infrastructure, ease of arranging competitive global shipments, quality of logistics services, ability to track consignments, and timeliness. Ahmed Sultan, ED, Business Development of Manufacturing, Transport, and Logistics, Bahrain EDB, said, “The Kingdom is a gateway to the Gulf, with access to MENA and beyond, where firms can benefit from FTAs, covering 22 countries offering duty-free access to 30 per cent of the world’s GDP.”

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