Asia Will Continue To Lead World Recovery,Top Transport Chief Says
November 5, 2009 [Bangkok] -- Asia will continue to deliver economic growth and drive trade globally, according to the Chief Executive of one of the world’s leading transport companies.
Richard Bolte, president and chief executive officer of BDP International, made the remarks before a conference of transport and logistics leaders in Thailand. More than 100 leaders from nearly 50 countries have come together in Bangkok for the BDP Global Network Forum, where the focus is on getting ready for the economic recovery.
Held November 5-7 at the Banyan Tree Hotel Bangkok, the forum provides a forum for executives of some of the world’s leading mid-size transport and logistics companies to discuss the state of regional and world trade.
With annual revenues of approximately $1.6 billion and more than 4,000 customers worldwide, BDP International has a presence in more than 120 countries through offices and strategic partners.
Economic outlook
“Asian economies have fared relatively better than North America or Europe,” Bolte said. “Right now the economic performance of the West is holding back global economic growth. At the same time, Asia has managed to keep its growth engine running.”
The gap between the economic performance of the East and the West has never been wider, he said. “We hear encouraging reports from China and Singapore while Germany and the UK continue to experience low or no growth. The recovery in the United States has also been uneven.
“It is clear that countries in this region – including Thailand – are returning to growth quicker than western economies. In other words, Asia is leading the world out of recession. Here in Thailand, the signs of economic recovery are now clearly visible. Thailand’s GDP bounced back in the second quarter, while manufacturing, exports and domestic are poised for improvement.
“For Thailand to enjoy economic growth in 2010, the nation will need to deliver a strong trade performance. So as the leaders of transport and logistics companies, we are pleased to see that Thailand’s manufacturing sector is coming back with a vengeance with output rising for six consecutive months.
Bolte said one sector of the Thai economy that should do well is electronics, where consumption of goods in China will boost revenue.
Lessons from the recession
Bolte said one important lesson from the recession is the need for companies to make swift changes in strategy when circumstances change. For example, BDP is a non-asset based business and as such is not heavily indebted to fund aircraft, ships, trucks and other transport infrastructure.
“Today, the asset-based competitors in the international logistics industry continue to struggle due to their high level of borrowings in what continues to be a tight credit market,” Bolte said. “It has been BDP’s capacity to move quickly from concept to execution that makes BDP a competitive force in the new economy.
“Companies that remain fixed in the old ways of doing business will struggle to survive. Companies that are too big, too slow or too leveraged will be out-paced by organizations that stay close to their customers,” Bolte said.
Richard Bolte, president and chief executive officer of BDP International, made the remarks before a conference of transport and logistics leaders in Thailand. More than 100 leaders from nearly 50 countries have come together in Bangkok for the BDP Global Network Forum, where the focus is on getting ready for the economic recovery.
Held November 5-7 at the Banyan Tree Hotel Bangkok, the forum provides a forum for executives of some of the world’s leading mid-size transport and logistics companies to discuss the state of regional and world trade.
With annual revenues of approximately $1.6 billion and more than 4,000 customers worldwide, BDP International has a presence in more than 120 countries through offices and strategic partners.
Economic outlook
“Asian economies have fared relatively better than North America or Europe,” Bolte said. “Right now the economic performance of the West is holding back global economic growth. At the same time, Asia has managed to keep its growth engine running.”
The gap between the economic performance of the East and the West has never been wider, he said. “We hear encouraging reports from China and Singapore while Germany and the UK continue to experience low or no growth. The recovery in the United States has also been uneven.
“It is clear that countries in this region – including Thailand – are returning to growth quicker than western economies. In other words, Asia is leading the world out of recession. Here in Thailand, the signs of economic recovery are now clearly visible. Thailand’s GDP bounced back in the second quarter, while manufacturing, exports and domestic are poised for improvement.
“For Thailand to enjoy economic growth in 2010, the nation will need to deliver a strong trade performance. So as the leaders of transport and logistics companies, we are pleased to see that Thailand’s manufacturing sector is coming back with a vengeance with output rising for six consecutive months.
Bolte said one sector of the Thai economy that should do well is electronics, where consumption of goods in China will boost revenue.
Lessons from the recession
Bolte said one important lesson from the recession is the need for companies to make swift changes in strategy when circumstances change. For example, BDP is a non-asset based business and as such is not heavily indebted to fund aircraft, ships, trucks and other transport infrastructure.
“Today, the asset-based competitors in the international logistics industry continue to struggle due to their high level of borrowings in what continues to be a tight credit market,” Bolte said. “It has been BDP’s capacity to move quickly from concept to execution that makes BDP a competitive force in the new economy.
“Companies that remain fixed in the old ways of doing business will struggle to survive. Companies that are too big, too slow or too leveraged will be out-paced by organizations that stay close to their customers,” Bolte said.