– The Global Logistics Forum 2024 in Riyadh concluded with over 65 agreements and memoranda of understanding signed, amounting to more than $4.26 billion.
– Key partnerships were formed between the Ministry of Transport and major global companies, including FedEx, Pacific International Lines (PIL), and Saudi Ports Authority (Mawani), along with new initiatives for logistics development and medical supply distribution.
– Industry leaders, including Agility Logistics and Saudia Cargo, announced plans for warehouse expansions and enhanced air freight services, with a focus on international cooperation and supply chain resilience.
The inaugural Global Logistics Forum 2024, held in Riyadh from October 12 to 14, concluded with over 65 agreements and memoranda of understanding signed, totaling more than $4.26 billion.
The forum served as a global platform for addressing the challenges and opportunities in building a sustainable logistics sector, emphasizing efficiency, flexibility, and sustainability by uniting key ecosystem players.
Key announcements included partnerships from the Ministry of Transport and Logistic Services, in collaboration with the Ministry of Investment, signing agreements with companies such as FedEx, Pacific International Lines (PIL), and the Saudi Ports Authority (Mawani). Additional memoranda were signed with NUPCO for establishing regional medical supply distribution centers and with the Saudi Industrial Development Fund (SIDF) to advance logistics services aligned with Saudi Arabia’s industrial transformation goals.
Global industry leaders also announced new partnerships during the forum, including Agility Logistics’ warehouse expansion plans and agreements between Saudia Cargo and Cluster 2 Airports for enhanced air freight services. Further scholarship and training initiatives were also introduced.
Participants stressed the need for international cooperation to tackle global supply chain challenges, ensure the safety of maritime navigation, and maintain the smooth flow of goods across sea, air, rail, and land.
The event, opened by Minister of Transport and Logistic Services Saleh Al-Jasser, brought together over 130 logistics experts, 13,000 attendees, 15 ministers, and 77 industry leaders from more than 30 countries.
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