Aramex has set up a joint venture with leading Chinese group Sinotrans to target thefast-growing Chinese domestic and international market.
The Middle East-based express and logistics group announced it has formally launched a jointventure company with Sinotrans Air Transportation Development Co., Ltd (Sinoair), as part of itson-going strategy to expand its presence in key global emerging markets. Sinoair, listed on theShanghai Stock Exchange, is the leading provider of freight forwarding, international and domesticexpress, cargo transportation and logistics services in China.
The Aramex Sinoair joint venture has been formed with equal shareholding and combines Aramex’stechnological capabilities, innovative services and strong global network with Sinoair’sdiversified services and extensive coverage within China, the world’s second largest economy, whichrecorded 9.6% growth in GDP in the first half of this year.
Fadi Ghandour, Founder and CEO of Aramex, said: “We are extremely pleased to partner withSinoair, the industry leader in this dynamic and strategic market. The formation of Aramex Sinoairnot only expands and strengthens our operations in China and neighbouring East Asian economies, butalso gives us the ability to serve our global clients better, and opens up enormous newopportunities for us.”
The new joint venture will allow customers in China to access a variety of services, includinginternational express, air, land and sea freight; logistics and warehousing; as well as brokerageand clearance services. Aramex Sinoair offices in Shanghai are fully operational with qualified andexperienced staff. In the second phase, Aramex Sinoair will open additional offices in Beijing andGuangzhou, with further expansion planned in other major cities, serving both the country’s boomingdomestic market and businesses worldwide.
“The opportunities for Aramex in China are clearly tremendous, and we believe that through ourpartnership with Sinoair, we will be well-positioned to extend our full range of services acrossChina to meet the growing demands of the economy, while linking China with its major tradingpartners in the Middle East and Africa,” said Othman Al Jeda, Aramex Chief Executive Officer inAsia.
According to the government of China, trade volume between China and the Middle East in 2010surged to a record $190 billion, and in the first half of 2011, trade increased by 36 percent toreach $120 billion.
