Traffic congestion has led to an increase of export costs of goods, according to the global lender. “Bangladesh’s congested transportation and often unsophisticated logistics systems impose high costs to the economy,” said Mercy Tembon, World Bank Country Director for Bangladesh and Bhutan, on Wednesday. Bangladesh needs to improve its transport and logistics systems to meet the needs of its growing economy and boost export growth, said the country director. Efficient logistics has become one of the main drivers for global trade competitiveness and export growth and diversification, said the report. There’s no doubt that reforms and investments for better transport and logistics will yield Bangladesh substantial economic benefits and strengthen its competitive advantage,” said Matías Herrera Dappe, senior economist at the World Bank and author of the report.

Source: bd News24 November 13, 2019 13:39 UTC