Gulf annual exim crosses $320bn mark
Dubai, March 26, 2008
The Middle East region’s transport and logistics industry is one of world’s fastest growing sectors boosted by Gulf’s annual imports and exports which is now close to over $320 billion, according to experts.
Speaking at the Meed's Gulf Logistics Forum 2008 in Dubai, the industry experts said with global freight expected to touch $14 trillion by 2020, the Gulf had to play a key role because of its strategic position as a major trade hub between Asia and Europe.
They pointed out that Dubai was on course to be amongst the top logistic hubs in the world.
Global transportation solutions provider Aramex, chaired a panel discussion to share international and regional transportation experts on the emergence of the region as a logistical hub.
Hussein Hachem, CEO of Aramex GCC highlighted the need for logistic companies to be ready to meet the growing demands of the industry.
“This forum gives us a platform to address, discuss and highlight the core fundamentals of the logistic industry, our objective and focus should not be on minimizing cost but rather on improving efficiencies and optimizing cost so as to drive the growth of the industry.” he added.
Capturing this business represents an unmissable opportunity for all regional and global logistics companies, he pointed out.
Aramex remains focused on working through strategic alliances and acquisitions to facilitate the growth of the region as a logistic hub, Hachem added.-TradeArabia News Service