The Middle East offers "extremely lucrative" opportunities for companies able to take advantage of the region's emergence as a global logistics hub, said Essa Al-Saleh, president and CEO of Agility Global Integrated Logistics.
The GCC countries are allocating $36bn to further develop their port infrastructure amid increasing foreign non-oil trade volumes. Saudi Arabia is powering ahead with port infrastructure development with more than $750m allocated to Dammam's King Abdul Aziz Port, which includes the launch of a second high-tech container terminal in 2015 with capacity for 1.8 million TEUs per annum.
