Experts urge simplifying policy framework for logistics to achieve growth target

Experts have called for simplifying the existing policy framework for the logistics sector to achieve national growth targets, and strengthen capacity in trade and investment for reducing the cost of business.

Bangladesh cannot lag behind while other South and Southeast Asian countries are taking the lead in extending logistics support, and have already set out policies and strategies in this regard, said speakers at the fourth meeting of the Logistics Infrastructure Development Working Committee at the Prime Minister's Office on 19 June 2023.

Ara Begum, CEO of the Business Initiative Leading Development (BUILD), presented the committee's comprehensive plan of activities for FY24 at the meeting.  The committee will work extensively in coordination with the National Logistics Development Coordination Committee formed in the Prime Minister's Office and its five sub-committees.

The committee stressed reducing the costs of logistics and setting out plans rightly, and acting accordingly so that costs can be reduced gradually.   The Logistics Infrastructure Development Working Committee will extend all possible assistance to the National Logistics Development Coordination Committee and its sub-committees to ensure a holistic logistics sector, said a press release from the Business Initiative Leading Development.

Development partners may come forward to provide financial support to implement the work plan of the Logistics Infrastructure Development Working Committee, where the Business Initiative Leading Development can coordinate with other relevant agencies.

Besides, it was decided that the Business Initiative Leading Development will share the outcomes of the workshop on "Formulating National Logistics Industry Development Policy for Bangladesh: Experience from Global Good Practices," held in November 2022, in the upcoming third meeting of the National Logistics Development Coordination Committee.

Moreover, the Logistics Infrastructure Development Working Committee will form a structured and strong network among the stakeholders to gather inputs from private-to-private and private-to-government initiatives through consultations, develop trade logistics tool kit and logistics index formulation, identification of demand and priority selection of private sector, coordination among trade logistics and trade facilitation initiatives, facilitate the National Logistics Development Coordination Committee, its sub-committees, and the Prime Minister's Office through research, technical and secretarial support as a dialogue platform.

The meeting was co-chaired by Mohammad Salahuddin, secretary at the Prime Minister's Office, and Abul Kasem Khan, former chairperson of Business Initiative Leading Development. BUILD Chairperson Nihad Kabir also participated in the meeting.

Representatives from the Prime Minister's Office, industries ministry, commerce ministry, planning ministry, railway ministry, Road Transport and Highways Division, Bridges Division, the Bangladesh Bank, Bangladesh Investment Development Authority, Bangladesh Economic Zones Authority, Dhaka Chamber of Commerce and Industry, Chittagong Chamber Of Commerce and Industry, Bangladesh Freight Forwarders Association, Bangladesh Supply Chain Management Society, International Finance Corporation, among others, were also present at the meeting.