D B Schenker to set up subsidiary in Bangladesh

European logistics major D B Schenker Thursday announced the launch its own entity in form of a subsidiary in Bangladesh.

"Schenker (Asia Pacific) Pte Ltd, subsidiary of DB Schenker, the transport and logistics division of the Deutsche Bahn Group, has expanded its presence in the Indian subcontinent with the launch of a new entity in Bangladesh," the company said in a statement.

Bangladesh, the statement said, is recognised as one of the fastest growing economies in the world with a consistent nominal GDP growth.

It is also the world's second largest exporter of apparels after China and plays a pivotal role in strengthening DB Schenker's position as a leader in the global textile market, especially since Bangladesh has duty-free access for garment exports to certain countries, the statement added.

Ditlev Blicher, CEO Asia Pacific, DB Schenker, described establishing an owned entity as an "important step for the organisation that comes after many years of careful planning and preparation, which will greatly enhance DB Schenker's service portfolio and footprint in the Indian subcontinent.