Riyadh, Saudi Arabia — More than 65 agreements and Memoranda of Understanding worth SAR 16 billion were signed at the inaugural edition of the Global Logistics Forum 2024 that was held in Riyadh from October 12 to 14.
The forum, inaugurated by Minister of Transport and Logistic Services Saleh Al-Jasser, was attended by more than 130 experts and leaders in the global transport and logistics sector, as well as 13,000 visitors. Among the attendees were over 15 ministers and 77 leaders in the transport and logistics industry from more than 30 countries.
The Ministry of Transport and Logistic Services, in collaboration with the Ministry of Investment, announced several significant agreements and memoranda of understanding with companies including FedEx, Pacific International Lines (PIL), and the Saudi Ports Authority (Mawani).
The Transport General Authority (TGA) and the Egyptian Ministry of Transport signed a memorandum of understanding aimed at enhancing joint cooperation between the two nations in the field of maritime linkage.
Additionally, the Ministry of Transport and Logistic Services signed memoranda of understanding with the National Unified Procurement Company for Medicines, Devices, and Medical Supplies (NUPCO) to establish new regional centers for medical supplies distribution.
Another agreement was signed with the Saudi Industrial Development Fund (SIDF) to support the development of transport and logistics services in line with the Kingdom’s industrial transformation goals.
During the forum, several global industry leaders announced significant agreements. Agility Logistics revealed plans to expand its warehouses in Saudi Arabia and signed a memorandum of understanding with Saudi Arabia Railways (SAR).
Saudia Cargo also announced a new partnership with Cluster 2 Airports to enhance air freight services. Additionally, new scholarship and training initiatives were unveiled.
The forum provided a global platform for discussing the opportunities and challenges of creating a sustainable logistics sector by unifying ecosystem partners to enhance efficiency, flexibility, and sustainability.
The event saw broad participation from leading logistics sector institutions, global experts, specialists, academics, and consultants, who shared their insights during various sessions on topics such as the security and safety of global trade routes, the impact of modern innovations on the sector’s future, and the speed of supply chains in a rapidly changing world.
The forum also highlighted the Kingdom’s prominent position in the global logistics sector and its critical role in ensuring the security of global trade, thanks to its strategic location between three continents, its proximity to key international markets, and its expanding logistics capabilities.
These factors make Saudi Arabia an ideal destination for hosting international discussions on the development and expansion of the logistics industry.
At the conclusion of the forum, participants emphasized the importance of enhancing international cooperation to address the challenges and crises affecting global supply chains, ensuring the freedom and safety of maritime navigation, and maintaining the uninterrupted flow of sea, air, rail, and land freight.
They also called on governments and the private sector to increase investment in developing logistics infrastructure, with a particular focus on projects connecting South Asia, the Middle East, and Europe.