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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