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FINANCIAL NEWS
GCC logistics market expected to grow to USD27b in 2012
29 Nov 2012
(MENAFN) The recent Annual Logistics Strategic Customer Forum revealed that the logistics market in the Gulf Cooperation Council (GCC) is forecasted to reach USD27 billion this year, reported Emirates 24/7.
The forum, organized by the Free Zone for key stakeholders involved in logistics and trade in UAE’s Jebel Ali Free Zone (Jafza) to collaborate, ensuring the sector in Jafza makes the most of these opportunities, also showed that at the end of 2012, the Transport and Logistics Market in the Middle East is expected to rise by over 10 percent, reaching USD35 billion.
Furthermore, the UAE’s logistics market is projected to reach USD9 billion at the end of the current year.
Jafza’s Deputy CEO, Ibrahim Mohamed Al Janahi, stated that the logistics industry is one of Jafza and Dubai’s main economic sectors, stressing that economic recovery and a rise in trade flow between the zone and its chief trade partners, including the GCC, West Asia, Africa, India, China and the CIS, opens vast opportunities for growth for logistics sector in the Free Zone.
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