20Cube further expands presence in Asia with Bangladesh operations
20Cube Logistics expands into Bangladesh with the intention of increasing logistics demand in one of the fastest growing emerging markets in South Asia region. Bangladesh’s recent economic growth has been recognised by Goldman Sachs as it includes Bangladesh in the ‘Next II’ emerging countries. JP Morgan lists Bangladesh among its ‘Frontier Five’ emerging economies in which it is worth investing.
In the last decades Bangladesh made silent progress in many low tech, labor intensive manufacturing sectors, most notably in the readymade garments sector which is now a USD24 billion export industry of Bangladesh. With Bangladesh having developed a strong position between European and US buyers many companies are already eager to evaluate future potential.
20Cube Logistics aims to take the advantage of its growing market to provide one stop service by combining air and sea freight forwarding, focusing on buyer consolidation.
Mahesh Niruttan - CEO, 20Cube said, “Emerging markets always have had infrastructure challenges, Bangladesh is no different. Creating Logistics solutions within the available infrastructure, with appropriate incremental investments will be our approach to Bangladesh. We have a well experienced team there poised to support our customers”