Bahrain ranks second in Arab world as ‘Most Improving GCC Country’
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
Bahrain is second best in the Arab World, and 34th globally, on the Logistics Performance Index 2023 published by the World Bank as the ‘Most Improving Country in the GCC’.
Owing to the milestone projects and initiatives delivered within the logistics sector across the past year, Bahrain has climbed 25 positions since 2018.
The Kingdom advanced 58 positions on the ‘Timeliness Subindex’ to reach second in MENA (10th globally) in view of the least aviation import dwell time on average. Bahrain ranked first in the GCC in terms of minimal number of delay observations in import and exports.
The World Bank report offers a comprehensive review of the trade logistics performance, collecting data from May to October 2022 across 139 countries, using six components assessing namely efficiency of customs clearance, quality of trade & transport infrastructure, ease of arranging competitively priced international shipments, quality of logistics services, the ability to track consignments, and timeliness.
“Bahrain’s high ranking and favourable performance was earned in view of its robust supply chain and advanced logistics infrastructure. Bahrain serves as a gateway to the Gulf, with unparalleled access to MENA and beyond, where companies can benefit from Free Trade Agreements covering 22 countries offering privileged, duty-free access to 30% of the world’s GDP,” Ahmed Sultan, Executive Director of Business Development of Manufacturing, Transport, and Logistics at the Bahrain Economic Development Board, said.
“In line with the Economic Recovery Plan, this milestone ranking is a step in the right direction in achieving the targets outlined in the Logistics Services Sector Strategy which seeks to secure the Kingdom’s position among the leading global logistics services hubs.”