Black_cats
ELITE MEMBER
- Joined
- Dec 31, 2010
- Messages
- 10,031
- Reaction score
- -5
Bangladesh can increase 20% export growth by cutting logistics costs: Experts
17 November, 2022, 09:40 pm
Last modified: 17 November, 2022, 09:56 pm
Photo: Collected
Photo: Collected
Bangladesh has the potential to accelerate its export growth significantly by bringing down logistics costs, businesspeople, economists and logistics experts said at a workshop on Thursday.
"If logistics costs can be reduced by 25%, it is possible to increase the country's export growth by 20%," said Martha B Lawrence, Global Lead of the Regional Connectivity and Logistics Knowledge Group at the World Bank, at the event in Dhaka.
Mentioning that Bangladesh ranks 100th out of 160 countries in the Logistics Performance Index, she said it is possible to reduce the cost of logistics by coordinating the road communication system by reducing traffic congestion and modernising the trucking system.
"Now is the right time to take integrated initiatives for rail and waterway systems to develop a multimodal logistics system," she added.
Lawrence and the others were speaking at the closing session of a workshop titled "Formulation of National Logistics Industry Development Policy for Bangladesh: Experience from Global Good Practices", organised by the industries ministry, the Business Initiative Leading Development (BUILD), and the World Bank Group.
The speakers underlined the importance of logistics efficiency, quality of logistics, improvement of the logistics infrastructure, and regional connectivity to formulate the National Logistics Industry Development Policy to develop a balanced multimodal transport system.
They also said initiatives need to be taken to update and implement the policy by portraying dedicated development strategies for different modes of transportation addressing.
Martha B Lawrence in her keynote requested the authorities concerned to put a comprehensive focus on logistics efficiency, quality of logistics, improvement of the logistics infrastructure, and regional connectivity while formulating the National Logistics Industry Development Policy to develop a balanced multimodal transport system.
"By considering the improvement of the logistics scenario as one of the most priority issues, the government has taken several mega projects. But, without the full automation of the customs and National Board of Revenue (NBR) procedure, all the initiatives will go into vain," she added.
Harmonised coordination among the public, private, and development partners is the single key to reaching the multimodal logistics management system to a global height, pointed out by Shipping Secretary Md Mostafa Kamal.
The workshop aimed to present good global practices in formulating the proposed National Logistics Industry Development Policy and gathering expert opinions from national and international sectorial specialists, stakeholders, public sector representatives, and development partners.
Road Transport and Highways Division Secretary ABM Amin Ullah Nuri also presented a keynote at the session chaired by the shipping secretary.
At the event, Railway Minister Md Nurul Islam Sujan said there is no alternative to ensure transport cost efficiency without the modern railway system. Ongoing projects of the Ministry of Railways will connect Bangladesh to Trans-Asian Railway Network and that will lead to exploring new export markets with diversified products.
To make Bangladesh a multimodal logistics hub of the South Asian region, the railway ministry will extend all possible assistance in a coordinated manner, he added.
BUILD Chairperson Nihad Kabir highly appreciated the initiatives of the railway ministry for taking several policy reforms and projects to improve the freight and passenger transportation management system in Bangladesh.
Shomik Raj Mehndiratta, practice manager of Transport in South Asia, World Bank, said as the development partner of the Bangladesh government, they have been assisting in the infrastructure development of rail, road, waterways, bay terminal and land port modernisation.
"Now it is high time to focus on the private sector's demanded regulatory reforms to ensure sustainable development of the logistics scenario in Bangladesh," he added.
www.tbsnews.net
ECONOMY
TBS Report17 November, 2022, 09:40 pm
Last modified: 17 November, 2022, 09:56 pm
Photo: Collected
Photo: Collected
Bangladesh has the potential to accelerate its export growth significantly by bringing down logistics costs, businesspeople, economists and logistics experts said at a workshop on Thursday.
"If logistics costs can be reduced by 25%, it is possible to increase the country's export growth by 20%," said Martha B Lawrence, Global Lead of the Regional Connectivity and Logistics Knowledge Group at the World Bank, at the event in Dhaka.
Mentioning that Bangladesh ranks 100th out of 160 countries in the Logistics Performance Index, she said it is possible to reduce the cost of logistics by coordinating the road communication system by reducing traffic congestion and modernising the trucking system.
"Now is the right time to take integrated initiatives for rail and waterway systems to develop a multimodal logistics system," she added.
Lawrence and the others were speaking at the closing session of a workshop titled "Formulation of National Logistics Industry Development Policy for Bangladesh: Experience from Global Good Practices", organised by the industries ministry, the Business Initiative Leading Development (BUILD), and the World Bank Group.
The speakers underlined the importance of logistics efficiency, quality of logistics, improvement of the logistics infrastructure, and regional connectivity to formulate the National Logistics Industry Development Policy to develop a balanced multimodal transport system.
They also said initiatives need to be taken to update and implement the policy by portraying dedicated development strategies for different modes of transportation addressing.
Martha B Lawrence in her keynote requested the authorities concerned to put a comprehensive focus on logistics efficiency, quality of logistics, improvement of the logistics infrastructure, and regional connectivity while formulating the National Logistics Industry Development Policy to develop a balanced multimodal transport system.
"By considering the improvement of the logistics scenario as one of the most priority issues, the government has taken several mega projects. But, without the full automation of the customs and National Board of Revenue (NBR) procedure, all the initiatives will go into vain," she added.
Harmonised coordination among the public, private, and development partners is the single key to reaching the multimodal logistics management system to a global height, pointed out by Shipping Secretary Md Mostafa Kamal.
The workshop aimed to present good global practices in formulating the proposed National Logistics Industry Development Policy and gathering expert opinions from national and international sectorial specialists, stakeholders, public sector representatives, and development partners.
Road Transport and Highways Division Secretary ABM Amin Ullah Nuri also presented a keynote at the session chaired by the shipping secretary.
At the event, Railway Minister Md Nurul Islam Sujan said there is no alternative to ensure transport cost efficiency without the modern railway system. Ongoing projects of the Ministry of Railways will connect Bangladesh to Trans-Asian Railway Network and that will lead to exploring new export markets with diversified products.
To make Bangladesh a multimodal logistics hub of the South Asian region, the railway ministry will extend all possible assistance in a coordinated manner, he added.
BUILD Chairperson Nihad Kabir highly appreciated the initiatives of the railway ministry for taking several policy reforms and projects to improve the freight and passenger transportation management system in Bangladesh.
Shomik Raj Mehndiratta, practice manager of Transport in South Asia, World Bank, said as the development partner of the Bangladesh government, they have been assisting in the infrastructure development of rail, road, waterways, bay terminal and land port modernisation.
"Now it is high time to focus on the private sector's demanded regulatory reforms to ensure sustainable development of the logistics scenario in Bangladesh," he added.
Bangladesh can increase 20% export growth by cutting logistics costs: Experts
Bangladesh has the potential to accelerate its export growth significantly by bringing down logistics costs, businesspeople, economists and logistics experts said at a workshop on Thursday. "If logistics costs can be reduced by 25%, it is possible to increase the country's export growth by 20%,"...
