As global trade accelerates, customs efficiency has become a critical measure of a nation's business environment. Bangladesh, a dynamic South Asian economy, is actively working to enhance its trade facilitation capabilities. On February 22-23, 2021, the World Customs Organization (WCO) and the Swiss State Secretariat for Economic Affairs (SECO) Global Trade Facilitation Programme (GTFP) collaborated with Bangladesh's National Board of Revenue (NBR) for a productive virtual strategic dialogue focused on strengthening Time Release Study (TRS) capabilities.
This dialogue followed up on WCO's August 2016 "Mercator Diagnostic Mission" and marked a significant step forward. The Swiss Embassy in Bangladesh reaffirmed its support and highlighted SECO's commitment to the country's economic development. Senior NBR officials and WCO experts participated in the discussions, reviewing Bangladesh Customs' TRS experiences and outlining future directions under the GTFP framework.
Key Focus: Time Release Studies
Time Release Studies serve as vital tools for measuring the duration between goods' arrival at borders and their final release. By identifying bottlenecks and optimizing processes, TRS enables customs authorities to improve clearance efficiency, reduce trade costs, and stimulate economic growth. The strategic dialogue aimed to help Bangladesh establish a more robust TRS system to support national development.
Strategic Dialogue Outcomes
The virtual meeting addressed several critical areas:
- Historical Review: Bangladesh Customs shared lessons from previous TRS implementations, including data collection methods, analytical approaches, and operational challenges.
- Improvement Identification: Participants examined ways to enhance Bangladesh's TRS framework through better data processes, analytical capacity, and interdepartmental coordination.
- Action Planning: The dialogue emphasized creating a comprehensive TRS work plan with defined objectives, scope, timelines, and responsibilities.
- Capacity Development: WCO experts stressed the importance of skills development and pledged technical support for TRS methodology implementation.
Developing a Comprehensive TRS Plan
While Bangladesh Customs has taken steps to ensure TRS sustainability, developing a detailed work plan emerged as a priority for future cycles. Key components include:
- Establishing clear objectives such as reducing clearance times and improving trade facilitation
- Defining study parameters including selected ports, commodities, and processes
- Creating implementation timelines for data collection, analysis, and reporting
- Assigning departmental responsibilities for execution
- Developing reliable data collection mechanisms
- Applying analytical methods to identify process inefficiencies
- Producing actionable reports for decision-makers
- Expanding successful practices nationwide
Ongoing International Support
The SECO-WCO Global Trade Facilitation Programme will continue supporting Bangladesh through:
- Technical assistance for TRS implementation
- Training programs for customs personnel
- Potential funding for necessary equipment and systems
Future Prospects for Trade Facilitation
Through collaboration with WCO and SECO, Bangladesh is making significant progress toward trade facilitation goals. An effective TRS system will enable:
- Enhanced customs efficiency and reduced trade costs
- Improved investment attractiveness
- Stronger economic growth through expanded trade
This strategic dialogue represents an important milestone in Bangladesh's efforts to modernize its trade infrastructure and support economic development.