‘Logistics cost reduction, market diversification key priority’

Commerce Minister Khandaker Abdul Muktadir on Monday said in Jatiya Sangsad that the government is continuously evaluating and reviewing its policy measures to cope with evolving global economic challenges while simultaneously taking concrete steps to mitigate their impact in the short and medium term.
The minister said this while replying to a supplementary question from treasury bench member Md Shamsur Rahman Shimul Biswas (Panna-5) during the question-answer session in the House on Monday with Deputy Speaker Barrister Kayser Kamal in the chair.
Muktadir said that beyond regular assessment, the government is focusing on implementing practical measures to ensure that external shocks do not exert strong pressure on the economy.
He noted that reducing logistics costs has been identified as a key priority. “Globally, logistics costs account for around 10% of GDP, whereas in our country it stands at nearly 16%, which is significantly high,” he said.
The minister added that the government is working to improve port efficiency and other logistics-related sectors to bring down these costs, expressing hope that the benefits would be visible in the near future.
Highlighting export diversification efforts, he said initiatives have been taken to expand markets beyond conflict-affected regions. The government is also identifying countries where duties and tariffs remain high.
Given that around 83%-84% of Bangladesh’s exports come from the ready-made garments (RMG) sector, the minister said special emphasis is being placed on reducing tariffs on these products.
“To this end, we are engaging in discussions with relevant countries to ensure better market access for our exports,” he added.