Brazil-based InvestSP Corporation and the Global Logistics Passport initiative have signed a Memorandum of Understanding or MoU for better shipping and logistics, local reports have said.
The MoU was signed in the presence of Mahmoud Al Bastaki, President of Dubai Trade and General Manager of the Global Logistics Passport Initiative, and Gustavo Deniz Junquera, Chairman of the Board of InvestSP.
According to this agreement the company will work as coordinator which will help in creating business opportunity from local traders.
Members of the Global Logistics Passport Initiative can expect an annual increase in trade of 5-10 percent, said the local reports.
As merchants benefit from more efficient commodity movements, new trade routes are expected to be opened and new markets be available.
Unlocking recent plans on Green Investment are expected to help Brazil promote green financing in agriculture, transport infrastructure, and renewable energy.
Brazil has also announced plans to reach $5.6 billion in bilateral efforts with the UAE and other countries.