October 2022 Full PDF final

LOGISTICS
Building modern port-led
network, Boosting
economic growth
The upward progress of Bangladesh's
export sector continues,
taking the country towards LDC
graduation. The seaports of the
country are one of the drivers of
this overall progress. Direct trade
has started from Chittagong port
this year, resulting in direct shipping
from the country to several
destinations. As a result, the cost
is greatly reduced while the profit
margin is increased. Besides, after
the implementation of Padma
Bridge, Mongla port is seeing the
light of hope, with increasing
interest of foreigners to invest
in Bangladesh. If properly managed,
port-centric trade will be a
boon for Bangladesh's economy.
Sustaining and accelerating this
progress requires modernisation
and continuous development of
the country's ports, and sound
diplomacy to establish a sufficient
port-led integrated network,
writes SM TANJIL-UL-HAQUE
Bangladesh has demonstrated remarkable developments
in the last few decades. Robust macroeconomic management,
exceptional achievements in poverty reduction
and sustainable expansions have paved the way for the country
to achieve World Bank's 'Lower-Middle Income Status' in 2015
and secure the United Nations Development Policy recommendation
to graduate to 'Developing Country' in 2026. The level of
country’s growth has increased consistently at 6% per year since
2000. Based on this impressive record, Bangladesh has set its
ambitious vision of becoming a 'High Income Country' by 2041.
Until now, the development of Bangladesh has been mainly export-oriented.
Over the years, Bangladesh has become an important
player in the global trade industry, particularly in the textile
and apparel value chain. Bangladesh's export record shows an
annual average growth of about 10.25% since 2001. To uphold
the extraordinary growth, seaports can be the biggest influencer.
However, in order to maintain it, port infrastructure should be
developed, logistics be modernised, and export competitiveness
be increased in the future.
Geographically Bangladesh is in a blessed location with the Bay
of Bengal’s easy-lying slope having natural options for the seaports.
The country already has two functional seaports, Chittagong
and Mongla. In addition, the government is constructing
Payra seaport in Patuakhali, and a deep seaport in Matarbari,
Cox’s Bazar. The Padma rail link can create a freight line with India
via Beanpole port near Jashore. If the development trend can
be maintained in the seaports, the benefits will be tremendous.
The country’s real journey of maritime started with the victory
of the sea under the leadership of Prime Minister Sheikh Hasina.
In continuation of the journey, establishing Payra port as the
third sea port of the country started in 2013. On the other hand,
volume of container handling at Chittagong seaport is increasing
rapidly due to increase in seaborne imports and exports.
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