UAE-based global Transworld Group and Japan’s Suzue Corporation have signed an agreement to establish a new joint venture to capitalise on emerging logistics business opportunities within the Middle East Gulf, Indian Sub-continent and Japan regions. The agreement was signed in Dubai by Ramesh S. Ramakrishnan, chairman of Transworld, and Takahiro Suzue, president of Suzue Corporation.
Under the terms of the agreement, Transworld and Suzue will set up a new company at the Jebel Ali Free Zone in Dubai which will offer a wide range of logistics services to global customers including supply chain management, international freight forwarding, customs clearance, warehousing and distribution and land transport. Mr Ramakrishnan said: “Our joint venture agreement with Suzue Corporation is of strategic importance due to the enhanced trade ties between UAE, India and Japan. The comprehensive logistics services provided will enhance the trade involving these three countries.”
The geographical region covered by the agreement will initially include Gulf Co-operation Council (GCC) countries, the Indian Sub-continent and Japan, with the possibility of extending it to other South East Asian nations. Suzue will handle logistics activities in Japan, Transworld Logistics FZE will meet demand in the UAE and other Gulf countries, while Shreyas Shipping will handle operations on the Subcontinent.