Bangladesh Customs Boosts Trade Efficiency with Wcobacked TRS Strategy

The WCO's GTFP assists the NBR in Bangladesh to optimize trade processes and improve efficiency. Through Time Release Studies (TRS) and workshops, it enhances transparency and risk management, fostering economic development. The TRS identifies bottlenecks and areas for improvement in customs procedures. By streamlining these processes, the GTFP contributes to faster clearance times, reduced costs for businesses, and increased trade competitiveness for Bangladesh. The focus on data-driven analysis and collaborative problem-solving ensures sustainable and impactful reforms.

Imagine cutting cargo clearance times in half, significantly reducing operational costs, and gaining a competitive edge in the market. The National Board of Revenue (NBR) of Bangladesh is turning this vision into reality through a strategic initiative called the Time Release Study (TRS), supported by the World Customs Organization’s (WCO) Global Trade Facilitation Project (GTFP).

TRS: A Catalyst for Trade Facilitation

The Time Release Study is not merely a report but a systematic methodology designed to measure the duration between cargo arrival at borders and final release. By identifying bottlenecks in clearance processes, TRS enables customs authorities to implement targeted improvements, reducing delays and lowering costs for businesses.

GTFP: Driving Global Trade Efficiency

The WCO’s GTFP plays a pivotal role in advancing trade facilitation worldwide. Through technical assistance and capacity-building programs, GTFP helps customs administrations streamline procedures and enhance operational efficiency. Its collaboration with Bangladesh’s NBR on the TRS initiative exemplifies this global effort.

Strategic Engagement and Capacity Building

From August 23 to 31, 2021, GTFP experts conducted a week-long technical assistance mission in Bangladesh, focusing on two key components:

Strategic Dialogue: High-level discussions with NBR leadership clarified TRS’s role in trade facilitation and established implementation frameworks.
National Workshop: Stakeholders from public and private sectors, including customs officials, traders, and logistics providers, participated in knowledge-sharing sessions to align on TRS methodologies and best practices.

Aligning with WTO Trade Facilitation Commitments

The initiative specifically addresses Article 7.6 of the WTO’s Trade Facilitation Agreement (TFA), which mandates periodic measurement and publication of cargo release times. GTFP experts assisted NBR in refining its compliance with this requirement, ensuring alignment with international standards.

Implementation Roadmap and Process Optimization

The mission yielded a detailed TRS implementation plan, outlining phases, timelines, and responsibilities. Concurrently, GTFP supported NBR in streamlining import/export workflows to minimize redundancies and errors. The use of WCO’s TRS tools was emphasized to ensure data accuracy.

Broader Impacts of TRS

Beyond reducing clearance times, TRS enhances transparency, strengthens risk management, and bolsters Bangladesh’s attractiveness to foreign investors. By improving trade efficiency, the initiative positions local businesses for greater global competitiveness.

With GTFP’s support, Bangladesh’s NBR is poised to elevate its trade facilitation standards, contributing to broader economic growth and integration into global supply chains.