"Very often, the Chattogram port faces severe congestion for the delay in releasing the goods, eventually raising the cost of doing business for the users," the report said.

It said small businesses, particularly those involved in trading goods, suffered the most as they needed certificates from government agencies, but they did not have much knowledge and financial capability, according to reports in the country’s newspapers.

Regulatory complexities, scarcity of land, poor infrastructure, and poor road connectivity are major trade barriers, although Bangladesh has progressed a lot and economic development is laudable.

Speaking at the launch, Japanese envoy to Bangladesh Ito Naoki said  a lot of Japanese companies are expanding operations in the country. The Japanese Economic Zone in the country will be operational next year, he added.

Fibre2Fashion News Desk (DS)