As part of its strategic expansion in the emerging Southeast Asian markets, CEVA Logistics has opened its own offices in Dhaka and Chittagong.
The logistics firm has been operational in textiles hotspot Bangladesh for 17 years through a network partner, providing logistics services to a number of multinational and local customers.
The company has now decided to open its own offices with a fully-staffed team in order to meet the country’s continuing economic expansion and increasing demand for exports.
Its lead office will be located in downtown Dhaka, complemented by an operational office in Chittagong, Bangladesh’s second largest city.
Through these offices, CEVA will offer a “full range of freight management solutions including purchase order management, CFS (container freight station), customs brokerage, project management and other value-added services”.
CEVA pointed to statistics showing that Bangladesh, currently the third-largest economy in South Asia, is expected to grow the fastest in the region (by 7.2%) in 2019-20 according to projections from the World Bank.
“A solid macroeconomic framework, political stability, implementation of planned public infrastructure projects and ongoing reforms to improve the business environment, underlie this projection,” CEVA said.
Russell Pang, managing director emerging markets (Bangladesh, Cambodia, Laos and Myanmar), CEVA Logistics, added: “Bangladesh is strategically located to support trading with multiple regions. It has developed a mature and stable market of exports with the US, Europe, and China.
“Our vision is to add greater value and increase service options to the market, notably the textile and garment industries, in addition to the increasing new higher value chain verticals of electronics, technology and healthcare. We look forward to developing our service profile in line with the increasing demands of our customers.”