Development Bank (ADB) and Bangladesh have signed agreement for a 143 million
US dollars policy-based loan to improve the volume, efficiency, predictability,
and security of cross-border trade in Bangladesh. Secretary of Economic
Relations Division Fatima Yasmin, and Country Director of ADB Edimon Ginting
virtually signed the agreement on behalf of Bangladesh and ADB according to
Bangladesh media reports.
E-payment at the three Border Crossing Points will be
will help increase the volume of imported and exported cargoes at the two
international border crossing points with India at Akhaura, Sonamasjid, and
Tamabil by 50 per cent by 2027 while reducing average customs clearance and
cargo transshipment time by 50 per cent the ADB official said. “E-payment at
the three Border Crossing Pointss will be implemented, with their capacity
increased to handle 520,000 tons per year of international transit cargoes, and
central customs laboratory, customs warehouse, and customs regional training
academy will be designed.
been carrying out trade facilitation reforms to enhance export diversification
and competitiveness by improving the quality of exports, signing bilateral
trade and investment cooperation agreements, and promoting trade through better
coordination among border agencies and private stakeholders.
The South Asia
Sub regional Economic Cooperation Integrated Trade Facilitation (SASEC) Sector
Development Program (SDP) will reform trade policies and improve the
cross-border trade facilities at Akhaura, Sonamasjid, and Tamabil BCPs. It will
also increase connectivity among SASEC countries by facilitating trade among
the SASEC countries through Bangladesh as a sub-regional hub.
ADB will also provide a 1.5 million US dollars technical
assistance grant from its
Technical Assistance Special Fund to support the modernization of the customs
legal framework and coordination among the border agencies, prepare an
operationalization plan of central customs facilities, strengthen NBR’s
capacity to implement modernized customs operations at BCPs, and build the
project implementation capacity of NBR and BLPA.