Business Report :
Speakers at a seminar on Saturday emphasized that reforming Bangladesh’s export-import policies is essential for ensuring economic resilience and long-term competitiveness, particularly in the context of the country’s impending graduation from Least Developed Country (LDC) status.
The observations were made during a seminar titled “Export-Import Policies in Bangladesh: Requirements and Challenges upon LDC Graduation”, held at the auditorium of the Dhaka Chamber of Commerce and Industry (DCCI).
Lutfey Siddiqi, Special Envoy to the Chief Adviser on International Affairs and chief guest at the event, stressed the urgency of accelerating structural and institutional reforms across government agencies.
“We lack a comprehensive roadmap for the industrial sector-and indeed for other sectors as well. A clear national tariff policy roadmap is essential,” he noted.
Lutfey added that institutional capacity and government preparedness are critical enablers of sustainable development. Highlighting the role of logistics, he said, “Ports are the backbone of the economy. Ensuring their efficient operation is vital.”
He also encouraged the business community, as a powerful segment of civil society, to assertively present their rational demands to the government, noting the private sector’s role as the main engine of the national economy.
Dr. Anisuzzaman Chowdhury, Special Assistant to the Chief Adviser and special guest at the seminar, said that while there is no option to revert from LDC graduation, Bangladesh must focus on producing high-value items such as advanced ready-made garments (RMG), pharmaceuticals, and light engineering products to stay competitive.
He announced that a national dialogue involving all stakeholders will soon be convened to chart the way forward in the post-LDC era.
“We already have human capital, financial capital, and physical infrastructure. What we need now is to foster trust,” he said, underscoring the importance of policy integration and coherence for economic growth.
Md. Anwar Hossain, Vice-Chairman of the Export Promotion Bureau (EPB), stated that instead of relying on cash incentives, targeted and effective policy support will be the key to tackling post-LDC challenges.
He noted that the government is focusing on three priority areas: trade policy reform, compliance and standards, and strengthening private sector readiness.
He urged the private sector to explore the use of man-made fibers in the RMG industry and stated, “With the right infrastructure, energy security, credit access, policy backing, and logistical support, the garment sector alone could earn $100 billion in the next 2-3 years.”
Kazi Mostafizur Rahman, Member (Customs: Audit, Modernization & International Trade) at the National Board of Revenue (NBR), mentioned that the NBR has implemented ASYCUDA and other digital systems since 1993 to enhance transparency in service delivery.
He stressed the importance of involving the private sector in post-LDC negotiation processes and announced that a central bonded warehouse is in the pipeline, expected to be operational by next July.
He encouraged businesses to utilize the National Single Window facility and highlighted the forthcoming electronic data exchange system, aimed at simplifying export-import procedures.
Delivering the keynote presentation, Dr. Selim Raihan, Professor of Economics at Dhaka University and Executive Director of SANEM, observed that Bangladesh imposes higher customs duties and tariff rates than neighboring countries.
He attributed this to a lack of tax reform and the government’s dependence on indirect and import taxes due to weak performance in direct tax collection.
On the export side, Dr. Raihan noted the overreliance on cash incentives and duty drawbacks for an RMG-focused export base that lacks diversity and struggles to attract foreign direct investment (FDI).
On the import side, he highlighted persistent high tariffs, non-tariff barriers, complex para-tariffs, and a protectionist stance in some sectors.
To address these challenges, he proposed developing a unified trade policy, introducing dynamic tariff structures, improving policy coordination, and ensuring greater stakeholder engagement.
In his welcome address, DCCI President Taskeen Ahmed stated that while the RMG sector accounts for over 84% of total exports and serves as a major growth driver, other sectors-such as pharmaceuticals, leather, jute, agro-processed goods, automobiles, and ICT-are yet to gain significant traction.
He observed that Bangladesh’s export base remains narrow and overly reliant on a limited number of markets. He called for financial and policy support for non-RMG sectors with high potential and urged the adoption of a balanced and predictable tariff policy to facilitate the import of raw materials and capital goods.
“To avoid disconnects between export and import policies, a comprehensive trade policy is crucial-something that is standard practice in many neighboring economies,” he added.
Panelists included Md. Fazlul Haque, former President of BKMEA, Syed Almas Kabir, former President of BASIS, Dr. Md. Zakir Hossain, Managing Director of Delta Pharma Ltd., and Fakir Kamruzzaman Nahid, Managing Director of Fakir Fashion Ltd., among others.
Former DCCI Directors A.K.D. Khair Mohammad Khan, M. Bashir Ullah Bhuiyan, and Joint Convenor Salahuddin Yusuf actively participated in the open discussion.
The event was also attended by DCCI Senior Vice-President Razeev H. Chowdhury, Vice-President Md. Salim Sulaiman, members of the DCCI Board of Directors, and a wide range of stakeholders from both the public and private sectors.
