Simplify customs clearance to improve logistics

The simplification of customs clearance processes is needed for the improvement of the logistics sector in Bangladesh, analysts told a seminar yesterday. 

The modernisation of ports and capacity enhancement of railway and inland water transport is also crucial, they added.

"Digitalisation and elimination of redundancies in customs processes are the major challenges for Bangladesh," said M Masrur Reaz, chairman of the Policy Exchange of Bangladesh.

The seminar on "Logistics Sector of Bangladesh: Challenges and Way Forward"was jointly organised by the Prime Minister's Office (PMO) and Economic Relations Division (ERD) at Bangabandhu International Conference Center in the capital.

Bangladesh's freight traffic volume is projected to increase sevenfold by FY 2040-41 compared to what it was back in FY 2020-21, he said.

He also observed that there were a lot of investment potentials in various fields of Bangladesh's logistics sector.

M Tofazzel Hossain Miah, principal secretary to the PMO, was present as chief guest while Tapan Kanti Ghosh, senior secretary to the commerce ministry, was present as special guest.

The organisers said a high-powered "National Logistics Development and Coordination Committee", headed by the principal secretary to the prime minister, had been formed for overall development of the logistics sector.

In this context, the seminar was organised to identify the gaps and challenges in the logistics sector as well as to discuss the strategies and way forward for formulating a National Logistics Policy for necessary improvement in this area.

M Tofazzel Hossain Miah said the government had already taken various steps to improve the logistics sector in the country. "The National Logistics Policy that the country will formulate should be action oriented," he said.

He urged for the active participation of the private sector in this process.

Chairing the event, ERD Secretary Sharifa Khan emphasised the need for policy support for trade facilitation as well as to enhance the competitiveness of export-oriented sectors to prepare the country for the post-LDC scenario.

Ghosh also emphasised decreasing lead times for export.

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, also spoke at the event.