|By Arabian Post Staff| Dubai headquartered global conglomerate Transworld Group and Yokohama-based Suzue Corporation of Japan announced the formation of a joint venture for exploring business opportunities in logistics in the Indian Sub-continent, Middle East and Japan.
A Memorandum of Understanding in this respect was signed by Ramesh S. Ramakrishnan, Chairman and Ritesh S. Ramakrishnan, Director – Strategy and Business Planning of Transworld Group, and Takahiro Suzue – President and Representative Director of Suzue Corporation, Japan.
Under the agreement, Transworld Group and Suzue Corporation will develop a Joint Venture unit, which will capitalise on the possibilities in international freight forwarding, customs clearance service, warehousing services, land transport services and other related logistic services with additional focus on land bank development for commercial purposes in Indian Sub-continent, Middle East and Japan.
The geographies covered by the agreement initially include the GCC countries, Indian Sub-continent and Japan, with the possibility of extending to South East Asian nations.
“The agreement assumes importance due to the enhanced trade ties between Japan and India strengthened by the visit of Prime Minister Narendra Modi to Japan in September 2015 and the impending visit of Prime Minister Shinzo Abe to India this month,” said Ritesh S. Ramakrishnan.
“We will utilize our experience and expertise in the Middle East to extend the services in this region too. With the possibility of the introduction of shinkansen technology in India, enhanced defence ties and negotiations for a civil nuclear cooperation agreement that would pave the way for exporting Japanese reactors to India, the two-way trade is expected to grow manifold and we hope to play a key role in that space,” said Ritesh S. Ramakrishnan.
“Suzue Corporation, established in 1908, is a key player in the Japanese logistics business and through this Joint Venture in alliance with reputed Transworld Group we hope to bolster our presence in the dynamic markets of Indian Sub-continent and Gulf Co-operation Council,” emphasized Suzue.
While Transworld Group’s logistics arm in the Middle East, Transworld Logistics FZE, will handle operations in the United Arab Emirates and Middle East, Shreyas Shipping and Logistics Limited, part of Transworld Group, will manage the business in the Indian Sub-continent and Suzue Corporation will oversee the Japan end.