Hopes to ease trade, speed up clearance Finance Minister

The government has decided to form a joint committee comprising the Chattogram Port Authority (CPA) and customs authorities to remove trade barriers, expedite cargo clearance and reduce business costs, Finance Minister Amir Khosru Mahmud Chowdhury said on Tuesday.

He announced the decision while briefing journalists after a high-level meeting with senior port and customs officials at the Chattogram Port, stating that the committee will work to improve coordination between the two agencies and address operational problems that delay import-export activities.

Khosru said the government’s priority is to facilitate trade, boost exports and industrialisation, and strengthen the economy by removing regulatory and procedural barriers faced by businesses.
“We are taking steps towards deregulation to remove the obstacles businesses have faced due to various regulations and complexities,” he said.

The minister said the meeting identified specific problems between the port and customs authorities and decisions were taken to resolve them.

“Nothing has been left open-ended. Each decision has been given a specific timeframe for implementation,” he said.

The proposed joint committee will also address emerging problems between the two agencies and work towards resolving them promptly, he added.

Khosru said delays in port operations and customs clearance increase the cost of doing business, eventually pushing up prices for consumers.

“If cargo can be cleared and exports processed in less time, businesses will have lower operating costs. The benefit will ultimately reach consumers as well,” he said.

Faster and more cost-effective import-export procedures would also improve Bangladesh’s competitiveness in international markets, according to the minister.

“If import-export processes become faster and more cost-effective, Bangladesh’s competitiveness in the international market will increase and the path towards building a trillion-dollar economy by 2034 will become easier,” he said.

Asked about the operation of the New Mooring Container Terminal (NCT), Khosru said the key issue was not whether the terminal would be operated by the port authority or a particular entity, but whether its operator would work in the national interest.