CEVA Logistics has opened its own offices in Dhaka and Chittagong, Bangladesh, in support of its strategic expansion into the emerging Southeast Asian markets.
The new head office in Dhaka and operational office in Chittagong were open as of March 9, and will offer freight management services such as purchase order management, container freight station (CFS), customs brokerage and project management, among others.
CEVA has been operational in Bangladesh through local partners for 17 years, and is opening its own, fully staffed offices in response to the country’s continuing economic growth and increasing demand for exports.
“Bangladesh is strategically located to support trading with multiple region,” said Russell Pang, managing director emerging markets for CEVA. These markets include Bangladesh, Cambodia, Laos and Myanmar. “It has developed a mature and stable market of exports with the U.S., 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 health care.”
Bangladesh, currently the third-largest economy in South Asia, is expected to grow the fastest in the region — by 7.2% in fiscal year 2019-20, according to projections from the World Bank, CEVA stated in a press release. According to CEVA, underlying this projection are the country’s solid macroeconomic framework, political stability, implementation of planned public infrastructure projects and ongoing reforms to improve the business environment.
CEVA Logistics is a global logistics and supply chain company in both freight management and contract logistics with $7 billion in revenues. Founded in 2007 as a merger of TNT Logistics and EGL Eagle Global Logistics, its head office is located in Baar, Switzerland.