Experts and analysts underscored the necessity of streamlining customs clearance procedures to enhance the logistics sector in Bangladesh even as they emphasised the importance of modernising ports and boosting the capacity of railways and inland water transport for improved logistics.
They came up with the observations at a recent seminar titled ‘Logistics Sector of Bangladesh: Challenges and Way Forward,’ jointly organised by the Prime Minister’s Office (PMO) and the Economic Relations Division (ERD) at the Bangabandhu International Conference Center, in Dhaka.
Participating in the discussion, Chairman of the Policy Exchange of Bangladesh, M Masrur Reaz, highlighted that the major challenges facing Bangladesh include the digitalisation of customs processes and the elimination of redundancies.
At the seminar, it was noted that Bangladesh’s freight traffic volume is anticipated to grow sevenfold by FY 2040-41 compared to its levels in FY 2020-21. Moreover, there are significant investment opportunities across various facets of Bangladesh’s logistics sector.
The organisers announced the formation of a high-powered “National Logistics Development and Coordination Committee,” led by the Principal Secretary to the Prime Minister, aimed at the comprehensive development of the logistics sector even as this seminar served the purpose of identifying gaps and challenges in the logistics sector and discussed strategies for the formulation of a National Logistics Policy to drive necessary improvements.
M Tofazzel Hossain Miah, Principal Secretary to the PMO, attended as the chief guest, while Tapan Kanti Ghosh, Senior Secretary to the Commerce Ministry, was a special guest.
Other speakers at the seminar included Farid Aziz, Additional Secretary to the ERD, Md Masud Sadiq, member of the National Board of Revenue, and Rear Admiral Mohammad Sohail, Chairman of Chittagong Port Authority.
M Tofazzel Hossain Miah emphasised that the National Logistics Policy should be action-oriented and encouraged active participation from the private sector even as ERD Secretary Sharifa Khan, who chaired the event, stressed the importance of policy support for trade facilitation and enhancing the competitiveness of export-oriented sectors to prepare for the post-LDC (Least Developed Country) scenario.
Meanwhile, Tapan Kanti Ghosh also emphasised the need to reduce lead times for exports.
