Bangladesh must urgently accelerate reforms in its logistics sector to maintain export growth and remain competitive, industry stakeholders warned on September 1. The country’s logistics sector is crucial for global trade, and with preferential trade agreements set to phase out in the coming decade, reforms are needed to keep pace.
At a business session hosted by Norwegian Ambassador Håkon Arald Gulbrandsen, participants called for the digitalization of clearance processes, timely implementation of port projects, promotion of multimodal transport, and integration of sustainability into logistics planning.
The session, titled “Navigating the Future: The Evolving Landscape of Logistics in Bangladesh,” was organized by the Royal Norwegian Embassy, HSBC Bangladesh, and the Nordic Chamber of Commerce and Industry (NCCI). Stakeholders discussed how to address bottlenecks in trade facilitation, reduce logistics costs, and improve Bangladesh’s competitiveness.
Keynote speaker M Masrur Reaz, chairman and CEO of Policy Exchange Bangladesh, emphasized the urgency of reforms, stating that delays in logistics could harm Bangladesh’s position in global value chains. Even minor improvements, he argued, could have significant impacts, such as a 1 percent cut in transport costs boosting garment exports by 7.4 percent.
Speakers also pointed out that over 90 percent of the country’s trade passes through Chittagong port, making the economy highly dependent on one gateway. Despite ongoing projects like the Bay Terminal and Mongla Port expansion, challenges such as customs delays and infrastructure gaps remain.
Ambassador Gulbrandsen stressed the importance of an efficient logistics sector, calling it a necessity for continued growth. NCCI President Tanveer Mohammad and HSBC Bangladesh CEO Md Mahbub ur Rahman also highlighted the need for further reforms and collaboration.
