Dhaka, Bangladesh (BBN) – A new logistics service provider — Nippon Express Bangladesh Limited — started operations in the capital Dhaka on Tuesday, the company said.
The company, a joint venture initiative of Japan-based logistic giant Nippon Express Company and Bangladesh’s Golden Harvest Logistic Limited, will provide tailor-made services for exporters and importers.
“The logistic giant has decided to open its business in Bangladesh commercially, as the country is now considered a business hub of Asia,” the company in a statement on Wednesday.
The joint venture company has already established five strategic offices in the country and set up its city logistics centre in Uttara, it added.
The company plans to open logistics service desks in export processing zones and other industrial belts to provide one-stop services to exporters and importers.
The annual market size of the logistic business is estimated at US$2.0 billion in the country, which is growing at 15 percent a year, according to industry insiders.
The country exported goods worth $16 billion and settled import payments to the tune of $21.7 billion during the July-February period of the current fiscal year, according to the central bank statistics. 
Both exports and imports rose around 14 percent on average in the eight months through February, compared to the same period a year ago, the central bank data showed.
Nippon Express Company Limited is one of the world’s largest logistic service providers functioning globally, with a network over 400 locations in 37 countries supporting their customers in meeting their daily business needs.
Privatization Commission Chairman Mirza Abdul Jalil attended the opening ceremony at the Westin Hotel in Dhaka as the Chief Guest. Shiro Sadoshima, Japanese Ambassador to Bangladesh, Takao Toda, Chief Representative of JICA, Kenji Watanabe, President of Nippon Express Company, Rajeeb Samdani, managing director of Golden Harvest Group, and Issei Shirakawa, Managing Director of Nippon Express Bangladesh, also attended the event.
BBN/SSR/AD-19Apr12-12:10pm (BST)