Dubai's Aramex inks deal for Asia expansion

Wednesday, 14 March 2012 5:45 PM

Aramex CEO Fadi Ghandour

Dubai courier firm Aramex has signed a partnership agreement with South Korea's CJ GLS, its latest expansion into east Asia, Aramex said in a statement on Wednesday.

CJ GLS is an unlisted unit of CJ Cheiljedang, a food-to-entertainment conglomerate.

The deal will enable Aramex to provide express and freight services to South Korea and follows the firm's launch of a joint venture in China with Sinotrans Air Transportation in November.

"Aramex will have a strategic position serving the South East Asian economies," Othman Al Jeda, Aramex's Asia chief executive, said in the statement to the Dubai bourse.

No financial details of the partnership deal was provided.

Trade between Korea and Gulf Cooperation Council (GCC) countries - United Arab Emirates, Saudi Arabia, Kuwait, Qatar, Bahrain and Oman - was worth $113bn in 2011, according to the statement.

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