Bangladesh’s foreign trade volume will increase by 50%, cargo shipment-and customs-clearance time will decrease by 50%, and smuggling will be prevented if the Government of Bangladesh undertakes customs reform and improvement in trade facilitation, the Asian Development Bank (ADB) noted to the Government of Bangladesh, as reported by the Financial Express.

Enhancement of Bangladesh's nine land ports will also boost the country’s foreign trade, noted ADB. ADB is ready to provide Bangladesh–which is set to graduate from Least Developed Country category in 2026–with financial support to boost the land port capacities. The proposed project under the “SASEC Integrated Trade Facilitation Sector Development Program” would be implemented by the Bangladesh Land Port Authority (BLPA) and the National Board of Revenue (NBR).

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Reform can enhance Bangladesh's foreign trade 50pc, end smuggling: ADB