Paperless trade implementation in Bangladesh : status, challenges, and way forward

Abstract

The paperless trade facilitation initiative aims to accelerate the implementation of digital trade facilitation measures to promote trade and foster development in developing nations. This initiative holds great promise in countries like Bangladesh, where bureaucratic red tape hinders commerce, drives up costs, and diminishes product quality. However, Bangladesh faces significant challenges on this front. Numerous government agencies do not collaborate effectively, and many of them still rely heavily on manual trade documents. The absence of proper digital laws further complicates the implementation of paperless trade, and the lack of alignment among existing laws adds to the difficulty. Nevertheless, the effective implementation of paperless trade, coupled with the establishment of the Bangladesh National Single Window (BNSW), can save valuable time and contribute to a smoother trading system. Bangladesh can fully capitalize on this opportunity, especially as it is poised to transition from a Least Developed Country (LDC) to a Developing Country (DC) by 2026. Achieving paperless trade in Bangladesh is a protracted and intricate process that demands appropriate legislative support, as well as well-devised strategies and logistics. Collaborative efforts between the government and business sectors will undoubtedly enhance this transition. It is also important to acknowledge that various challenges and risks may arise during this transition, potentially slowing down progress or even jeopardizing its success.