Yusen Logistics Expands To Bangladesh
In a response to increasing logistics needs in emerging markets, Yusen Logistics Co., Ltd. has established Yusen Logistics (Bangladesh) Ltd., which will begin operations on October 15.
Bangladesh, among the “Next 11” emerging economies following the so-called BRICs, is referred to as the “golden Bengal,” reflecting its economic potential against a backdrop of abundant land and a huge labor force. Export by the many apparel and retail companies that have recently advanced into the country with the aim of personnel cost reduction has become a driving force for Bangladesh’s economy, and further growth is expected in the future.
YLK positions Bangladesh as an important strategic market in its mid-term business plan titled “GO FORWARD, Yusen Logistics”. Since 2003, the group companies’ logistic divisions have engaged in buyer’s consolidation service responding to the logistics needs of apparel and retail companies. Since 2011, Japanese personnel have been dispatched on long-term business assignments to Bangladesh, and this local corporation was established with the aim of further expanding business.
The two bases are the Dhaka head office and the Chittagong office that will now be established. In these areas, the Company will take advantage of its position as a total logistics company to provide one-stop services by combining air and sea freight forwarding, focusing on buyers consolidation services for apparel makers.
YLK will promote further improvement of services and overseas networks to meet customers’ diversifying and increasingly sophisticated logistics needs in the future.