Industry leaders want ‘unified trade authority’
Staff Reporter :
Business leaders have renewed calls for a unified trade authority, urging the government to consolidate all trade-related services under one body to boost industrial growth, enhance competitiveness, and simplify procedures.
The call was made during a high-level meeting held at the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) office in Gulshan, where local business leaders engaged with delegates from the World Trade Organization’s Trade Facilitation Agreement (TFA) Tracking Tools Mission.
The meeting was chaired by FBCCI Administrator Md Hafizur Rahman and attended by key stakeholders from the World Bank and private sector.
In his opening remarks, Md Hafizur Rahman emphasized that fragmented institutional oversight over trade processes continues to increase bureaucratic delays and costs for businesses.
A single-window or unified authority would significantly cut red tape, enhance transparency, and support Bangladesh’s integration into global value chains,” he said.
World Bank representatives present at the event included Melvin Spreij, Senior Trade Facilitation Specialist; Theresa Morrissey, Trade Facilitation Consultant; and Nusrat Nahid Babi, Senior Transport Specialist and Task Team Leader.
They offered technical insights into how efficient implementation of the WTO’s TFA can substantially reduce trade transaction costs and enhance efficiency, especially for developing economies like Bangladesh.
During the discussion, business leaders highlighted several pressing concerns. These included outdated customs clearance systems, inadequate port and logistics infrastructure, inconsistent regulatory practices across agencies, and a lack of coordination between ministries.
They argued that unless these bottlenecks are addressed through institutional reform and capacity-building, Bangladesh’s goal of becoming a competitive export-driven economy under Vision 2041 may remain elusive.
Participants also called for urgent investments in technology adoption, skills development, laboratory testing facilities, and digital infrastructure to support faster and more reliable trade services.
Emphasis was placed on enhancing automation at key border points and increasing private sector involvement in policy formulation, especially regarding the implementation of the TFA.
The FBCCI urged the government to adopt a more inclusive, consultative approach in designing trade policies and to ensure that private sector feedback is integrated into regulatory reforms.
The meeting concluded with a shared commitment from both national and international stakeholders to work collaboratively toward a more integrated and business-friendly trade ecosystem in Bangladesh.