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Saturday | September 19, 2026 | Dhaka

Experts urge govt to simplify business processes

 New Nation
 Published: 12:00 AM, 06 December 2023

Business Report :
Experts at a discussion have stressed the need for simplifying business processes and documentation methods and reducing regulatory burdens.

They also underscored the importance of attracting new investment, fostering technological advancement and promoting exports of diversified products, especially in key markets where market access benefits are available.

They observed that leveraging export diversification to the markets in the UK and China will be highly beneficial in the context of changing scenario of global trade.

Build, a leading public-private dialogue platform, in association with the Ministry of Commerce (MoC) organized the 10th meeting of its Trade and Investment Working Committee in the conference room of the ministry on Sunday.

Two policy papers titled “DFQF Market Access to China-Policies and Measures to Increase and Diversify Exports” and “UK’s DCTS: Policy Measures to Escalate Export to the UK” were presented at the event where senior secretary Tapan Kanti Ghosh and President of the Metropolitan Chamber of Commerce and Industry (MCCI)Md Saiful Islam co-chaired.

Build CEO Ferdaus Ara Begum reported on the progress of the 9th meeting, highlighting the implementation of eight out of 27 proposed reforms, with nine currently in progress.

Acknowledging the collaborative efforts of the MoC, Local Government Division, and Register of Joint Stock Companies (RJSC), she expressed gratitude for the successful implementation of 5-year trade licences, export and import licences and the initiation of online trade licence services and information dissemination through websites of RJSC etc. MoC Senior Secretary Tapan Kanti Ghosh underlined the need to reduce documentation requirements, digitise trade licences, review the imposition of income tax on trade licences, etc.

Dr Malay Chowdhury, additional secretary, LGD, informed the meeting that five documents are presently required to apply for a trade licence.

During discussions, it was proposed to streamline the trade licence document requirements to three: NID/Birth Certificate, nature/types of business, and proof of business ownership, he said.

Registrar of RJSC Abdus Samad Al Azad informed that RJSC is working on complete automation of its services.
The meeting highlighted that China wants prime and fashion-oriented products, which are lacking in the export basket.

On the other hand, it said China is mostly interested in importing primary products from Bangladesh, which has less value addition.

The senior secretary suggested further analysis of the duty-free scenario as per the APTA list to get a clear picture of the preferential export of products from Bangladesh.