Dubai’s port and logistics operator DP World wants to transport China’s products to the world, leveraging its recent acquisition of Cargo Services Far East in Hong Kong. The United Arab Emirates company is bullish on the manufacturing and trading prowess of the world’s second-largest economy, and has boosted its capabilities in Hong Kong to take advantage of the significant growth opportunities, according to chairman and CEO Sultan Ahmed Bin Sulayem. “We want to tap the China market more,” Bin Sulayem said in an interview in Hong Kong.
“In the past, we used Dubai and now, we believe we can add value here, where we connect Chinese products to Africa, to surrounding countries.” Last month, DP World completed the acquisition of Cargo Services Far East from Hong Kong tycoon John Lau. The supply chain provider will provide DP World with expertise to cater to customers in the retail and high-end fashion sectors, and deepen access to the Chinese market, Bin Sulayem said.
“China today is the factory of the world,” he said. “[The acquisition] complements us in China, giving us better access to logistics and connecting our customers to other regions.” Founded in 1989 by Lau, Cargo Services Far East’s businesses include ocean and air-freight shipping, food and cold-chain logistics, and fashion logistics, according to its website.
It has offices in China, the UK, the US, South Africa, India and Singapore. Lau is also the chairman and executive director of Hong Kon.