Dhaka: Speakers at a seminar today emphasized the need for reforming export-import policies to ensure resilience and long-term competitiveness for Bangladesh as it prepares to navigate the challenges of the post-Least Developed Country (LDC) period. The seminar, titled ‘Export-import policies in Bangladesh: Requirements and Challenges upon LDC Graduation,’ was held at the Dhaka Chamber of Commerce and Industries (DCCI) auditorium.
According to Bangladesh Sangbad Sangstha, Lutfey Siddiqi, Special Envoy to the Chief Adviser on International Affairs, highlighted the importance of structural and institutional reforms within government agencies. He noted the absence of a national roadmap for industrial and other sectors and advocated for a strategic national tariff policy. Siddiqi also emphasized the significance of efficient port management and logistics, asserting that the business community should assert their demands to the government, given the private sector’s role as an economic driver.
Dr. Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser, underscored the irreversible nature of LDC graduation and the necessity of focusing on high-value ready-made garments, medicine, and light engineering products. He announced plans for a national dialogue to determine the path forward in the post-LDC period and emphasized the need for trust-building and policy integration to boost the economy.
Md. Anwar Hossain, Vice-Chairman of the Export Promotion Bureau (EPB), identified effective policy support as crucial for addressing post-LDC challenges. He urged the private sector to adopt man-made fibers in the garment industry and predicted the potential for the sector to generate $100 billion in the next few years, given appropriate infrastructure and support.
Kazi Mostafizur Rahman from the National Board of Revenue (NBR) discussed the implementation of automated systems like ASYCUDA to enhance service transparency. He advocated for private sector involvement in negotiations and shared plans for a central bonded warehouse by next July. Rahman also encouraged businesses to utilize the national single window and electronic data exchange systems.
Dr. Selim Raihan, Professor of Economics at Dhaka University and Executive Director of SANEM, noted that Bangladesh’s customs duties and tariffs are higher than those of neighboring countries. He pointed out the country’s reliance on cash incentives for its export base and called for a unified trade policy framework to address import policy challenges.
DCCI President Taskeen Ahmed highlighted the concentration of Bangladesh’s export sector on ready-made garments and the need for diversification into pharmaceuticals, leather, jute, and other industries. He advocated for a balanced tariff policy to facilitate raw material and capital goods imports, emphasizing the importance of a comprehensive trade policy.
Panelists, including former leaders from various industry associations, contributed to the discussion, which also featured participation from past DCCI directors and stakeholders from both public and private sectors.