Experts call for simpler customs procedure to develop logistics sector

Experts at a seminar in the capital on Thursday called for simplifying the customs clearance procedure for the improvement of the country's logistics sector.

They also called for modernisation of ports, and enhancement of the railway's capacity and the inland water transport system, said a press release from the Economic Relations Division (ERD) which collaborated with the Prime Minister's Office to organise the seminar on "Logistics Sector of Bangladesh: Challenges and Way Forward".

Logistics sector plays a crucial role in enhancing productivity and investment. Improvement in the logistics sector can lead to decrease in the cost of doing business and production as well as reduction in the cost and time of business transactions, said the Economic Relations Division.

Hence, it is observed that improvement of the logistic sector will not only help to achieve a smooth and sustainable LDC graduation for Bangladesh but can also facilitate achieving other national development goals, it added.

The government has already taken various steps to improve the country's logistics sector. A high-powered committee titled "National Logistics Development and Coordination Committee", headed by the principal secretary to the prime minister, has been formed for overall development of this sector.

Thursday's seminar was organised to identify the gaps and challenges in the logistics sector and to discuss the strategies and way forward for formulating the "National Logistics Policy" for necessary improvement in this arena.

Principal Secretary to the Prime Minister M Tofazzel Hossain Miah said the "National Logistics Policy" should be action oriented. He also called for initiating the process of necessary reforms in this sector and urged the private sector to actively participate in the process.

ERD Secretary Sharifa Khan put emphasis on policy support for trade facilitation as well as enhancing the competitiveness of export-oriented sectors to prepare the country for the post-LDC scenario.

Senior Commerce Secretary Tapan Kanti Ghosh, a special guest at the programme, put emphasis on decreasing the lead time in export.    

Policy Exchange Bangladesh Chairman Dr M Masrur Reaz said Bangladesh's freight traffic volume is projected to increase seven times by FY41 from what it was back in FY21.

He also observed that there are huge investment potentials in various fields of Bangladesh's logistics sector.  

Senior officials from government ministries, agencies and research institutions, representatives from relevant trade associations and think tanks attended the workshop.