Saudi Arabia-based logistics provider LogiPoint has established a bonded trade corridor between the Jeddah Islamic Port and the King Abdulaziz International Airport to facilitate the movement of multimodal cargo.
The news has been reported widely in national media and has been confirmed by the company on social media.
The establishment of the trade corridor was subject to a trial which saw a shipment arriving at LogiPoint’s Bonded and Re-Export Zone at the Jeddeh Islamic Port and then shipped by airfreight via the King Abdulaziz International Airport to the Netherlands.
Where does the Jeddah Islamic Port feature in PTI’s list of top ports in the Middle East?
The motivation behind the establishment of the corridor is to increase Saudi Arabia’s regional and international competitiveness, and ensure it is seen as a multimodal transshipment hub.
In addition, it also meant to accelerate its ‘Vision 2030’ initiative, a national project to diversify the Saudi Arabian economy.
LogiPoint CEO Farooq Shaikh was quoted saying: “The bonded corridor facilitates trade for customers by providing a multimodal bonded access to regional target markets combining sea, land and air freight.
“It also gives Jeddah a significant advantage to compete in the transshipment cargo segment.”
