Port-customs joint committee formed 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, speed up cargo clearance and reduce the cost of doing business.

Finance Minister Amir Khosru Mahmud Chowdhury announced the decision on Tuesday (August 11) while briefing journalists after a high-level meeting with senior port and customs officials at Chattogram Port.

He said the committee would improve coordination between the two agencies and address operational problems that cause delays in import-export activities.

The finance minister said facilitating trade, boosting exports and industrialisation, and strengthening the economy by removing regulatory and procedural barriers are among the government’s key priorities.

“We are moving towards deregulation to remove the obstacles businesses have faced due to various regulations and complexities,” he said.

According to Khosru, the meeting identified specific problems between the port and customs authorities and decisions were taken to resolve them. Each decision has been assigned a specific timeframe for implementation, he added.

The proposed joint committee will also address any emerging issues between the two agencies and work towards resolving them promptly.

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

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

He added that faster and more cost-effective import-export procedures would strengthen Bangladesh’s competitiveness in international markets.

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

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

“Whether the port is operated by a domestic or foreign entity is not the main issue. Whoever operates the port must follow the same rules and protect the interests of the country’s economy, people and businesses,” he said.

On reopening closed factories, Khosru said the government was working to create an environment where industries could operate without unnecessary obstacles and at lower costs.

Responding to questions about customs officials seizing illegal goods and allegations of irregularities, he said the government would take a strict stance against corruption.

“There will be no scope for corruption, nepotism or patronage under the current government. No matter how powerful those involved in irregularities are, they will not receive any concession,” he said.

The minister also said the Asian Development Bank (ADB) vice-president was visiting Chattogram and that the multilateral lender had major development plans for the city.

Chattogram should be developed not only as a logistics hub but also as a major centre of broader economic development, he said.

A meeting involving the ADB and relevant stakeholders was scheduled to take place later in the day to discuss the development plans, Khosru added.