Thanks to inadequate logistics at ports and highways, Bangladesh’s export potential remains largely untapped.
Experts maintained this while speaking recently at a panel discussion on ‘Building Connectivity and Production Infrastructure for the Next Phase of Growth: Investing in Logistics and Economic Zones’.
Speaking at the event, World Bank’s Country Director for Bangladesh and Bhutan, Abdoulaye Seck reportedly said if Bangladesh could reduce the overall cost of logistics by 25 per cent, then export earnings would grow 20 per cent even as he added Bangladesh’s exports would increase by 7.4 per cent if transportation costs were reduced 1 per cent by ensuring better logistics.
Bangladesh, looking to become a high-income country, experts feel it needs to undertake some reforms in the macroeconomic, financial, and trade sectors for higher export competitiveness even as the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) organised the event as a part of its ongoing three-day business summit at in Dhaka recently.
