Bangladesh prepares maiden logistics policy to boost trade

Shahida Sultana, director general of the Executive Cell and PEPZ of the PMO, assured that the policy, shaped after consultations, will be finalised soon. However, some investors find certain provisions unclear and fear bureaucratic hurdles.

Meanwhile, the country manager of Expeditors (Bangladesh) Ltd, stressed the need for a lead coordinator to manage the logistic sector efficiently even as Fazlul Hoque, former president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), appreciated the policy but cautioned against penalising businesses for non-compliance.

The chairman of Policy Exchange Bangladesh, Dr. Masrur Reaz, emphasised a time-bound legal and regulatory reform plan to ensure policy implementation. He dismissed concerns about operational complexities, highlighting the challenges of institutional coordination and public-private partnership.

It may be mentioned here, Bangladesh has moved up two spots in the logistics index but remained at the bottom among four South Asian economies since 2019 even if Agility Emerging Markets Logistics Index 2024 ranked Bangladesh 33rd out of 50 emerging countries.

In 2023, it climbed four places to 35th, with a score of 4.53 out of 10.

Pakistan ranked 29th, followed by Sri Lanka, Malaysia, UAE, India, and China.

Agility published the score on February 6, 2024.

On Domestic Logistics Opportunities, Bangladesh ranked 16th, improved one spot, while it fell to 36th in international logistics.

The country secured the 42nd spot on business fundamentals, climbing two places, and jumped five spots to 30th in digital readiness.

Fibre2Fashion News Desk (DR)