Bangladesh’s Export Competitiveness at a Crossroads: The Imperative of Trade Facilitation
As Bangladesh prepares for its LDC graduation, the country faces a critical challenge: maintaining its export competitiveness in the global market. The ready-made garments (RMG) sector, wich accounts for the lion’s share of Bangladesh’s exports, is particularly vulnerable. While average tariff rates in major markets like the EU,Canada,Japan,and the USA range between 3% and 5%,tariffs on apparel are significantly higher,hovering between 10% and 15%.The loss of preferential access to these markets—except in the USA, where the US-GSP scheme excludes most apparel items for LDCs—will have a significant impact on export prices and Bangladesh’s competitive edge.
The Overlooked Catalyst: trade Facilitation
Often overshadowed by tariff discussions, trade facilitation is emerging as a key driver of export competitiveness. This encompasses a wide array of measures, including paperless digital trade, electronic submission of customs documents, automated customs clearance, and e-payment of customs duties. Weak trade facilitation, however, acts as an invisible tax, escalating costs for exporters and importers alike. For exporters, these inefficiencies translate into higher costs, undermining their competitive strength. For domestic importers, the ripple effect increases costs for consumers, producers, and exporters reliant on imported inputs.
The High Cost of Inefficiency
Bangladesh’s export diversification beyond apparel is hindered by the high costs and inefficiencies of trade facilitation. While non-apparel items face lower tariffs globally, the benefits of preferential market access are eroded by weak logistics and trade facilitation. Time delays and cost escalation make it arduous for exporters to compete effectively. Apparel exporters, on the other hand, can offset some of these costs due to duty-free market access in most regions—except the USA.
A review of the UN ESCAP–World Bank International Trade Cost Database (2017) reveals that trade costs between Southeast Asian and south Asian economies are estimated at 130% of tariff equivalents—higher than those between ASEAN and the EU (105%) or SAARC and the USA (112%). A 2020 World Bank study found that exporting from Dhaka to Kathmandu costs 1.8 times more than exporting from Dhaka to São Paulo. Additionally,Bangladesh’s National Board of Revenue (NBR) reported in 2022 that the average time from arrival to release for cargo was 11 days and 6 hours for sea shipments,7 days and 11 hours for air cargo,and 10 days and 8 hours for land shipments. These delays and costs weaken Bangladesh’s competitive position in both regional and global markets.
The Path Forward: Implementing the Trade Facilitation Agreement
The WTO’s Trade Facilitation agreement (TFA) offers a roadmap for addressing these challenges. The agreement focuses on four key areas: clarity, simplification and modernisation, harmonisation, and standardisation. Full implementation of the TFA is projected to reduce trade costs by an average of 14.3% and boost global trade by up to one trillion USD. For Bangladesh, this could mean a important reduction in trade costs, enhancing its export competitiveness.
Key Takeaways
| Aspect | Details |
|———————————|—————————————————————————–|
| Tariff Challenges | Apparel tariffs in major markets range between 10% and 15%. |
| Trade Facilitation Costs | Weak trade facilitation acts as an invisible tax,escalating export costs. |
| Time Delays | Average cargo release times: 11 days (sea), 7 days (air), 10 days (land).|
| TFA Benefits | Full TFA implementation could reduce trade costs by 14.3%.|
A Call to Action
As Bangladesh navigates its post-LDC future, the urgency of cost-effective trade facilitation cannot be overstated. By embracing digitalisation, streamlining customs processes, and fully implementing the TFA, Bangladesh can mitigate the erosion of tariff preferences and strengthen its position in the global market. The time to act is now.
For more insights on Bangladesh’s trade landscape, follow the Business Standard’s coverage.
Bangladesh’s Trade Facilitation Reforms: A Path to Global Competitiveness
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As Bangladesh prepares for its graduation from Least Developed Country (LDC) status, the nation is doubling down on trade facilitation reforms to maintain its competitive edge in the global market. With the erosion of preferential market access looming, the country is implementing a series of measures aimed at streamlining trade processes, reducing costs, and enhancing efficiency.
Key initiatives Driving Trade Facilitation
Bangladesh has introduced several groundbreaking measures to modernize its trade infrastructure. One of the most significant steps is the adoption of paperless trade, which eliminates bureaucratic hurdles and accelerates customs processes. The introduction of ASYCUDA++, an advanced customs clearance system, has further streamlined operations, particularly at the Benapole land customs station, which handles approximately 90% of bilateral trade with India.
Automation is also transforming land ports,with a focus on reducing turnaround times. At Chattogram seaport, enhanced coordination among various agencies has improved cargo handling efficiency. Similarly, Dhaka airport has seen upgrades in cargo handling capacity, ensuring faster release of goods.
In January 2025, the National Board of Revenue (NBR) launched the National Single Window (NSW), a unified platform that simplifies trade procedures. Initially integrating seven out of 19 customs agencies, the NSW is expected to manage 119 certifications and permissions, significantly reducing processing times.
the National Logistics Policy 2024
Bangladesh’s National Logistics Policy 2024 is a cornerstone of its trade facilitation strategy. The policy aims to boost exports,reduce business costs,and attract foreign investment. By addressing inefficiencies in the logistics sector, the policy seeks to position Bangladesh as a regional trade hub.
Regional Connectivity and green Trade Facilitation
Despite these advancements, only 16% of Bangladesh’s total exports are destined for South Asian, East Asian, and South-East Asian markets. Weak trade facilitation, particularly in land-based routes, has hindered the country’s ability to leverage its comparative advantages.
To address this, Bangladesh is prioritizing the operationalization of the BBIN (Bangladesh, Bhutan, India, Nepal) Motor Vehicle Agreement, signed in 2015. Enhancing railroad and water connectivity within South Asia, advancing the BIMSTEC Multi-modal Transport Strategy, and revitalizing the BCIM (Bangladesh-China-India-Myanmar) economic corridor are also critical steps.Moreover, the global shift toward Green Trade Facilitation (GTF) is reshaping trade norms. key trading partners are demanding significant reductions in the carbon and environmental footprints of trade. Bangladesh must remain engaged in global discussions to ensure that these evolving demands do not become protectionist barriers.
The Road Ahead
As Bangladesh transitions to a non-LDC developing country, it will be required to fully comply with the Trade Facilitation Agreement (TFA) measures applicable to developing countries. Failure to comply could lead to disputes at the WTO Dispute Settlement Body (DSB).
However, the benefits of efficient trade facilitation far outweigh the costs. By reducing trade costs and improving logistics, Bangladesh can enhance its export competitiveness and attract investment. Policymakers, ministries, and trade bodies must prioritize concrete measures to expedite ongoing initiatives and ensure long-term value.
| Key Trade Facilitation Measures | impact |
|————————————-|————|
| Paperless trade | Accelerates customs processes |
| ASYCUDA++ | Streamlines customs clearance |
| National Single Window (NSW) | Simplifies trade procedures |
| National Logistics Policy 2024 | Boosts exports, reduces costs |
| Green Trade Facilitation (GTF) | Reduces carbon footprint |
Bangladesh’s ability to adapt to the evolving demands of global trade will be crucial in maintaining its competitive edge. By investing in trade facilitation, the country can unlock new opportunities and secure its position as a key player in the global market.
For more insights on Bangladesh’s trade policies, visit the National Board of Revenue and explore the latest updates on the National Single Window and other initiatives.
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Stay informed about Bangladesh’s trade reforms and their impact on global competitiveness. Share your thoughts and join the conversation on how trade facilitation can drive economic growth.
Master the Art of News Writing: Proven Techniques to Drive Engagement
Crafting compelling news stories is both an art and a science. For aspiring journalists,mastering the techniques of news writing is essential to inform and captivate readers. drawing from the expertise of veteran journalists, this guide offers practical approaches to elevate your storytelling skills.
The Foundation of Engaging News Writing
at its core, news writing is about clarity, accuracy, and relevance.”The best stories are those that resonate with the audience, providing them with information they need while keeping them hooked,” says a seasoned journalist. To achieve this, start with a strong lead—a concise opening sentence that grabs attention and summarizes the story’s essence.
Techniques to craft Compelling Stories
- Structure Your Article Effectively: Use the inverted pyramid model, placing the most critical information at the top.This ensures readers grasp the key points even if they don’t finish the article.
- Incorporate Quotes and Anecdotes: Quotes from credible sources add authenticity, while anecdotes make stories relatable. “A well-placed quote can humanize a story and make it memorable,” notes an expert.
- Use Descriptive Language: Paint a vivid picture with words. Instead of stating facts, describe scenes, emotions, and actions to immerse readers in the narrative.
- Engage with Multimedia: Enhance your story with images, videos, or infographics. Visual elements break up text and provide additional context.
Practical Tips for Aspiring Journalists
- Research Thoroughly: Verify facts and gather diverse perspectives to ensure your story is well-rounded and credible.
- Write for Your Audience: tailor your tone and style to match the interests and expectations of your readers.
- Edit Ruthlessly: trim unneeded words and ensure your writing is concise and impactful.
Key Elements of a News Article
| Element | Description |
|———————–|———————————————————————————|
| Headline | A catchy, concise title that summarizes the story. |
| Lead | The opening sentence that hooks readers and provides the main point. |
| Body | Detailed information, quotes, and context that support the lead. |
| Conclusion | A summary or call to action that leaves a lasting impression. |
Call to Action
Ready to elevate your news writing skills? Dive deeper into these techniques by exploring this comprehensive guide. practice consistently, seek feedback, and stay curious to refine your craft.
By mastering these proven techniques, you’ll not only inform your readers but also inspire them to engage with your stories on a deeper level.
Mastering Trade Facilitation and News Writing: Insights from Experts
Understanding Bangladesh’s Transition too Green Trade Facilitation
editor: How is Bangladesh adapting to the global shift toward Green Trade Facilitation (GTF)?
Guest: Bangladesh is actively engaging in global discussions to align with the evolving demands of Green Trade Facilitation. This includes reducing the carbon and environmental footprints of trade to meet the expectations of key trading partners. initiatives like the BCIM (Bangladesh-China-India-Myanmar) Economic Corridor are pivotal in this transition. Additionally, the country is focusing on implementing Trade Facilitation Agreement (TFA) measures to avoid disputes at the WTO Dispute Settlement Body (DSB).
Key Trade Facilitation Measures in Bangladesh
Editor: What are the most impactful trade facilitation measures Bangladesh is implementing?
Guest: Bangladesh has adopted several key measures to enhance trade efficiency. These include:
- Paperless Trade: Accelerates customs processes by reducing paperwork.
- ASYCUDA++: Streamlines customs clearance through automation.
- National Single Window (NSW): Simplifies trade procedures by integrating various trade-related activities into a single platform.
- National Logistics Policy 2024: Aims to boost exports and reduce logistical costs.
- Green Trade Facilitation (GTF): Focuses on reducing the carbon footprint of trade activities.
The Road Ahead for Bangladesh’s Trade Competitiveness
Editor: What steps should Bangladesh take to maintain its competitive edge in global trade?
Guest: to remain competitive, Bangladesh must prioritize concrete measures to expedite ongoing initiatives like the National Single Window and the National Logistics Policy 2024. By reducing trade costs and improving logistics, the country can enhance its export competitiveness and attract investment. Policymakers, ministries, and trade bodies must work collaboratively to ensure these measures are effectively implemented.
Mastering the Art of News Writing
Editor: What are the essential techniques for crafting compelling news stories?
Guest: Effective news writing hinges on clarity, accuracy, and relevance. key techniques include:
- Strong Lead: Start with a concise opening sentence that grabs attention.
- Inverted Pyramid Structure: Place the most critical information at the top.
- Quotes and Anecdotes: Use credible quotes and relatable anecdotes to add depth.
- Descriptive Language: Paint a vivid picture with words to engage readers.
- Multimedia elements: Enhance stories with images, videos, or infographics.
Practical Tips for Aspiring Journalists
Editor: What advice do you have for aspiring journalists to improve their news writing skills?
guest: Aspiring journalists should focus on thorough research, tailoring their writing to their audience, and ruthless editing to ensure conciseness and impact. Consistency in practice, seeking feedback, and staying curious are essential for refining their craft.
Conclusion: Key Takeaways
Editor: What are the main takeaways from this discussion?
guest: Bangladesh’s ability to adapt to global trade demands,particularly in green Trade Facilitation,will be crucial for maintaining its competitive edge. Effective news writing, on the other hand, requires mastering techniques like strong leads, structured storytelling, and engaging multimedia elements. By focusing on these areas, both trade competitiveness and journalistic skills can be significantly enhanced.
For more insights on Bangladesh’s trade policies, visit the national Board of Revenue and explore the latest updates on the National Single Window and other initiatives.
