Business leaders have urged the government to bring all trade-related services under a single authority to ensure sustainable industrial growth, enhance competitiveness, and simplify trade procedures in Bangladesh.
They made the call at a meeting held on Tuesday at the Gulshan office of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) with representatives from the World Trade Organization's Trade Facilitation Agreement (TFA) Tracking Tools Mission, according to a press release.
Presided over by FBCCI Administrator Md Hafizur Rahman, the meeting underscored the need to create a business-friendly environment to reduce the cost of doing business and improve productivity.
Officials from the World Bank, including Melvin Spreij, senior trade facilitation specialist; Theresa Morrissey, trade facilitation consultant, and Nusrat Nahid Babi, senior transport specialist and task team leader, were also present.
During the discussion, business leaders and their representatives emphasised the need to enhance the country's technical and technological capacity, improve skills development initiatives, and invest in infrastructure, logistics, and laboratory facilities to boost productivity and competitiveness.
They also stressed that the opinions of the private sector must be considered in implementing the WTO's Trade Facilitation Agreement across member countries.
The FBCCI administrator called for closer cooperation between the public and private sectors to ensure that Bangladesh fully leverages the potential benefits of the TFA to foster a more competitive and cost-effective trade landscape.
