Mustaque Ahmed, managing director of the new company said, “The investment in Bangladesh will go towards strengthening the joint venture, employee training, upgrading of information systems, enhancing and expanding the infrastructure and introducing a range of new services for businesses in Bangladesh.

“Having established ourselves in Bangladesh for over 25 years, we have the local expertise and knowledge and the flexibility to tap into our global network and capabilities in more than 220 countries and territories,” he added.

As part of the new investment, DHL has launched a center of excellence in Dhaka to capitalize on the fashion logistics industry in South Asia. This follows similar centers in India, Sri Lanka and Pakistan. The company says the annual spend on logistics services in the region is $3.9 billion.

Amadou Diallo, CEO of DHL Global Forwarding in the South Asia region, noted, "Bangladesh, India, Pakistan and Sri Lanka are estimated to account for over $2.4 billion in this fast-growing industry. The fashion and apparel sector is one of the country's largest foreign currency earners and a key employer in Bangladesh, with ready-made garments accounting for about 70 percent of all exports from the country.”

DHL said the Bangladesh textiles sector grew 5.7 percent in 2009 and forecasts a 6.4 percent growth this year.