It appears that Bangladesh lost six points in domestic market access rankings down to 127 and foreign market access down to 112 over good scores in the previous year, which is highly worrying. Declining position in business operating environment by 17 points alone to 128th position as the report said resulted most singularly from uncertain business environment. Bangladesh saw escalation of law and order situation from 2015 marred with militants attacks, killing, rape and arson that led to stoppage of direct cargo flight from Dhaka to UK, Germany and Australia for security reasons. Part of the study is based on how quickly and transparently Customs Officials can handle exports and imports in the border to reach the goods to destination. Needless to say, Bangladesh customs proved efficiency in border handling and retained its previous position, though it is still at low but cargo shipment by airports suffered the bigger setback due to security reason.
The improvement in transport and infrastructure facilitation as the index highlighted a major jump upward in the availability and quality of better Roads and Highways is highly positive as Bangladesh is making huge investment in this respect. The position has improved to 109 from 123 from two years earlier. Similarly the country has moved five points up in terms of availability and quality of transport services and six points in the availability and use of ICTs services to promote trade and investment.
We must say Bangladesh economy is growing fast and we must take vigorous steps to accelerate domestic production and also access to new external markets. Maritime shipping, air cargo and trading over border are three major market accesses that we must make sure to grow unimpeded through better trade policies and administrative actions. The industry also should have better loan at lower rates to promote domestic marketing chain.
We know that the suspension of GSP by the USA has a tremendous negative impact on our export expansion. In our view Bangladesh must take new drives to open markets in new global points to reduce dependence on bigger ones. We must have supportive policies and a hassle free bureaucracy to achieve the ends.
