Global Logistics Forum 2024 Inaugurated In Riyadh With Participation From 30 Countries

The Global Logistics Forum 2024 commenced under the auspices of King Salman bin Abdulaziz Al Saud, with Minister of Transport and Logistic Services Saleh Al-Jasser leading the inauguration. The event, themed "Reshaping the Global Map of Logistics," is attended by ministers, senior officials, and leaders from international organizations. It features 130 speakers and 80 exhibitors from 30 countries, running from October 12 to 14 in Riyadh.

Al-Jasser expressed gratitude to King Salman for his support and acknowledged Crown Prince Mohammed bin Salman's role in transforming the logistics sector. He stated, "The present moment is ideal for convening this forum, as the global logistics sector is at a pivotal juncture." He emphasized the importance of safeguarding supply chains and maintaining logistics services' continuity, which are vital for global trade.

Saudi Arabia aims to become a global trade hub by advancing its logistics infrastructure in line with Vision 2030. The National Transport and Logistics Strategy, launched in mid-2021 by HRH the Crown Prince, plans to invest over SAR1 trillion by 2030. Already, SAR200 billion has been allocated to enhance the Saudi logistics sector's capabilities and improve its global rankings.

The Kingdom's strategic location has historically placed it at the crossroads of significant trade routes like the Incense and Spice Routes. Now, it seeks to shape its logistic future through advanced infrastructure such as King Salman International Airport, modern seaports, and an expanded railway network. These developments are crucial for achieving Saudi Vision 2030.

Saudi Arabia has made notable progress in logistics performance. The country advanced 17 ranks in the World Bank's Logistics Performance Index and improved by 14 positions in the International Air Transport Association's global connectivity index. Last year, the Saudi railway network reduced one million truck trips on roads, significantly cutting carbon emissions.

The forum includes extensive participation from public and private sector leaders in logistics. Experts and industry pioneers from various countries engage in panel discussions aimed at enhancing international cooperation. These discussions focus on advancing logistics services and their role in the global economy's development.

Key Topics at the Forum

Key topics discussed at the forum include empowering global markets, investing in logistics infrastructure, and ensuring resilience against disruptions in areas like the Red Sea. Discussions also cover new energy port developments and empowering talents to transform future industries. The forum provides a platform for collaborative efforts to address challenges and shape a sustainable future that fosters prosperity for all.

Al-Jasser highlighted that joint efforts over two days would address these challenges effectively. The forum aims to stimulate joint efforts to advance logistics services globally while enhancing their development role within the economy. This collaborative approach seeks to ensure timely delivery of goods worldwide while fostering economic prosperity.

As Saudi Arabia continues its journey towards becoming a global logistics powerhouse, these initiatives reflect its commitment to improving supply chain efficiency and linking global markets effectively. The country's strategic investments aim not only at enhancing infrastructure but also at securing its position as a key player in international trade networks.

With inputs from SPA