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This is volume 3 of a three-volume publication on Bangladesh's
trade prospects. Bangladesh's ambition is to build on its very
solid growth and poverty reduction achievements, and accelerate
growth to become a middle income country by 2021, and share
prosperity more widely amongst its citizens. This includes one of
its greatest development challenges: to provide gainful employment
to the over 2 million people that will join the labour force each
year over the next decade. Moreover, only 54.1 million of its 94
million working age people are employed. Bangladesh needs to use
its labour endowment even more intensively to increase growth and,
in turn, to absorb the incoming labour. The Diagnostic Trade
Integration Study identifies the following actions centered around
four pillars to sustain and accelerate export growth: (1) breaking
into new markets through a) better trade logistics to reduce
delivery lags ; as world markets become more competitive and newer
products demand shorter lead times, to generate new sources of
competitiveness and thereby enable market diversification; and b)
better exploitation of regional trading opportunities in nearby
growing and dynamic markets, especially East and South Asia; (2)
breaking into new products through a) more neutral and rational
trade policy and taxation and bonded warehouse schemes; b)
concerted efforts to spur domestic investment and attract foreign
direct investment, to contribute to export promotion and
diversification, including by easing the energy and land
constraints; and c) strategic development and promotion of services
trade; (3) improving worker and consumer welfare by a) improving
skills and literacy; b) implementing labour and work safety
guidelines; and c) making safety nets more effective in dealing
with trade shocks; and (4) building a supportive environment,
including a) sustaining sound macroeconomic fundamentals; and b)
strengthening the institutional capacity for strategic policy
making aimed at the objective of international competitiveness to
help bring focus and coherence to the government's reform efforts.
This third volume provides in-depth analysis of eight different
manufacturing and services sectors of the Bangladeshi economy,
which help to illustrate the thematic analysis of volume 2 and
ground it in sector experiences. Besides pointing to cross-cutting
themes, the analysis also highlights some specific issues and
actions that could help relieve constraints to faster export growth
in these sectors.
This is volume 2 of a three-volume publication on Bangladesh's
trade prospects. Bangladesh's ambition is to build on its very
solid growth and poverty reduction achievements, and accelerate
growth to become a middle income country by 2021, and share
prosperity more widely amongst its citizens. This includes one of
its greatest development challenges: to provide gainful employment
to the over 2 million people that will join the labour force each
year over the next decade. Moreover, only 54.1 million of its 94
million working age people are employed. Bangladesh needs to use
its labour endowment even more intensively to increase growth and,
in turn, to absorb the incoming labour. The Diagnostic Trade
Integration Study identifies the following actions centered around
four pillars to sustain and accelerate export growth: (1) breaking
into new markets through a) better trade logistics to reduce
delivery lags ; as world markets become more competitive and newer
products demand shorter lead times, to generate new sources of
competitiveness and thereby enable market diversification; and b)
better exploitation of regional trading opportunities in nearby
growing and dynamic markets, especially East and South Asia; (2)
breaking into new products through a) more neutral and rational
trade policy and taxation and bonded warehouse schemes; b)
concerted efforts to spur domestic investment and attract foreign
direct investment, to contribute to export promotion and
diversification, including by easing the energy and land
constraints; and c) strategic development and promotion of services
trade; (3) improving worker and consumer welfare by a) improving
skills and literacy; b) implementing labour and work safety
guidelines; and c) making safety nets more effective in dealing
with trade shocks; and (4) building a supportive environment,
including a) sustaining sound macroeconomic fundamentals; and b)
strengthening the institutional capacity for strategic policy
making aimed at the objective of international competitiveness to
help bring focus and coherence to the government's reform efforts.
This second volume provides in-depth analysis across seven
cross-cutting themes that underpin most of the findings of pillars
1 and 2 above.
The Diagnostic Trade Integration Study identifies the following
actions centered around four pillars to sustain and accelerate
export growth: (1) breaking into new markets through a) better
trade logistics to reduce delivery lags; as world markets become
more competitive and newer products demand shorter lead times, to
generate new sources of competitiveness and thereby enable market
diversification; and b) better exploitation of regional trading
opportunities in nearby growing and dynamic markets, especially
East and South Asia; (2) breaking into new products through a) more
neutral and rational trade policy and taxation and bonded warehouse
schemes; b) concerted efforts to spur domestic investment and
attract foreign direct investment, to contribute to export
promotion and diversification, including by easing the energy and
land constraints; and c) strategic development and promotion of
services trade; (3) improving worker and consumer welfare by a)
improving skills and literacy; b) implementing labor and work
safety guidelines; and c) making safety nets more effective in
dealing with trade shocks; and (4) building a supportive
environment, including a) sustaining sound macroeconomic
fundamentals; and b) strengthening the institutional capacity for
strategic policy making aimed at the objective of international
competitiveness to help bring focus and coherence to the
government's reform efforts.
Trade has played a critical role in global poverty reduction. In
harnessing the potential of trade, some of the most successful
countries have developed strong trade relationships with their
neighbors. However, many South Asian countries have trade regimes
that often offset the positive impact of geography and proximity.
This report documents systematically the gaps between current and
potential trade in South Asia and addresses important specific
barriers that have held trade back. These barriers include tariffs
and paratariffs, real and perceived nontariff barriers,
connectivity costs, and the broader trust deficit. This
policy-focused report unpacks these critical barriers to effective
trade integration in South Asia through four in-depth studies that
produce new, detailed, on-the-ground knowledge. Three of the
studies are based on extensive stakeholder consultations. Two also
rely on tailored surveys. The fourth study, on tariffs, benefits
from new data on paratariffs. The report also marshals new evidence
showing how trading regimes in South Asia discriminate against each
other. Given the South Asian context, incremental, yet concrete
steps aimed at tapping the potential of deeper integration are
appropriate. The report has been drafted in this spirit. It offers
precise, actionable policy recommendations that could help achieve
measurable progress in key areas of trade and integration that
would be to the advantage of all countries in the region.
It is widely agreed that, over the past decade, accelerating
infrastructure investments in India's North Eastern Region (NER)
and neighboring countries, along with connectivity agreements with
Bangladesh, hold immense promise for unlocking NER's economic
potential. Other global trends, such as the growing incomes and
consumer awareness in India and neighboring countries; a rising
preference for fresh, healthy, safe, environmentally friendly, and
socially responsible products; the growing role of services in
manufacturing; and increasing demand for skilled resources are also
very favorable for NER. Together, these developments can help NER
showcase its strengths in agriculture and services, thereby
developing value chains in these sectors, which will lead to
sustainable, better-paying job opportunities for the people of NER.
In this context, the World Bank, in consultation with
stakeholders--government, private sector, and academia--analyzed
two cross-cutting constraints that are encountered across all value
chains and sectors in NER: connectivity and logistics, and product
standards and quality infrastructure. To ground the policy in
specific contexts, the team studied four sectors in depth: fruits
and vegetables, spices, bamboo and related products, and medical
tourism. Playing to Strengths lays out an initial policy framework
for NER that integrates demand and supply and shows that, even with
a low base in manufacturing, NER can leverage its strengths in
agriculture and services to step up its growth. However,
implementing this framework will require a different approach to
doing business compared with the existing ecosystem and its
associated value chains, which are mostly geared to local and/or
price-conscious consumers. In capitalizing on its advantages, NER
will not only accelerate its own development, but also will play an
increasingly critical role in the government of India's "Act East"
policy.
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