10 November 2011

[101111.EN.LOG] Hanjin/Korean Air Chairman Urges Integrated Air, Sea Land Logistics

HANJIN Group and Korean Air chairman Yang Ho Cho is calling for an "integrated air, sea and land logistics system to boost the global economy" at the Business Summit (B20).

"It is important to lower logistics costs for international trading companies by building an integrated and standardised global logistic system. With lower costs, international trading companies will be able to strengthen their competitiveness, bolster international trade and enhance the global economy," he said.

Mr Cho was speaking on the sidelines of the B20's Trade and Investment working group that convenes with other business leaders from around the world at the B20, an adjunct to the G20 Summit in Cannes and is designed to strengthen worldwide financial cooperation.

Mr Cho showcased IATA's e-freight project as a global success story: a worldwide air cargo system that simplifies transport processes through standardised electronic data-exchange between businesses, airlines, airports and customs departments.

"To facilitate trade, this kind of effort should not be restricted to air transport, but needs to be expanded to sea and surface," Mr Cho said.

IATA predicts that logistics savings in the range of US$3.1 billion to $4.9 billion each year could be realised, if every international trading company adopted the e-freight system. So far 384 airports, 33 carriers, 1,650 forwarders in 44 countries have joined the e-freight initiative.

Source : HKSG, 08.11.11.

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