GES forms partnership in Brazilian duty-free zone
Globe Express Services said Thursday it has formed a partnership with Profactory to offer logistics services to companies in the Manaus Duty Free Zone in Brazil.
'Manaus has become a major manufacturing platform for re-exports and an important doorway to the Brazilian market, attracting roughly 450 companies to date with joint revenues of $14 billon,' the company said in a statement. 'Commodities handled within the free trade zone include consumer electronics, electrical appliances, InfoTech products, motorbikes and chemicals, with the United States, Argentina, Colombia, Mexico, Chile and Germany among its top export markets. Though foreign invested companies in Manaus predominantly hail from Japan (38 percent) and the U.S. (18 percent), there has been increasing penetration by Chinese companies in recent months. In the long term, Manaus is likely to gain further significance as part of a projected road-river link between the Pacific and Atlantic oceans, which is expected to provide an alternative to the Panama Canal.'
GES, a third-party logistics provider, entered the Brazilian market last year when it opened an office in S'o Paulo.