A seminar on 'Logistics Sector of Bangladesh: Challenges and Way Forward' was held in the city on Thursday. M Tofazzel Hossain Miah, Principal Secretary to the Prime Minister, was present as the chief guest. Experts at a seminar have advocated for the simplification of customs clearance procedures to improve the logistics sector in the country.
They have also called for modernisation of ports and enhancing the capacity of railway and inland water transport.
Prime Minister's Office and Economic Relations Division (ERD) jointly organised the seminar titled 'Logistics Sector of Bangladesh: Challenges and Way Forward' in the city on Thursday, said a press release.
M. Tofazzel Hossain Miah, Principal Secretary to the Prime Minister, attended the seminar as the chief guest and Senior Secretary of the Ministry of Commerce Tapan Kanti Ghosh was present as special guest. ERD Secretary Sharifa Khan chaired the event.
Speaking on the occasion, Tofazzel Hossain Miah said the National Logistics Policy that the country would formulate should be action-oriented.
He also called for initiating the process of necessary reforms in this sector and sought active participation of the private sector in this process.
ERD Secretary Sharifa Khan laid emphasis on providing policy support for trade facilitation as well as enhancing the competitiveness of export-oriented sectors to prepare the country for post-LDC scenario.
Senior Secretary Tapan Kanti Ghosh stressed the need for decreasing the lead time in export.
Chairman of the Policy Exchange Bangladesh M. Masrur Reaz, in his keynote presentation, said Bangladesh's freight traffic volume is projected to increase seven times by FY 2040-41 from what it was back in FY 2020-21.
He also observed that there are huge investment potentials in various fields of Bangladesh's logistics sector.
Welcoming the participants, Additional Secretary of ERD and Project Director of SSGP Farid Aziz said the government has taken various measures to ensure a smooth and sustainable transition from the LDC status.
Member of the National Board of Revenue Md Masud Sadiq, Chairman of the Chittagong Port Authority Rear Admiral Mohammad Sohail, President of the Leathergoods and Footwear Manufacturers & Exporters Association of Bangladesh (LFMEAB) Syed Nasim Manzur, Executive President of Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) Mohammad Hatem and Senior Private Sector Specialist of the International Finance Corporation Mohammad Lutfullah spoke at the event as panellists.
Senior officials from the ministries, agencies and research institutions and representatives from relevant trade associations and think-tanks attended the workshop.
Logistics sector plays a crucial role in enhancing productivity and investment. Improvement in logistics sector can lead to a decrease in the cost of doing business and production as well as reduction in the cost and time of business transactions, the seminar was told.
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