The interim government has announced plans to establish a Free Trade Zone (FTZ) in the country, aligning with the growing global trend of trade liberalization and investment facilitation.
According to a media release from the Chief Adviser’s Office, a national committee has already been formed to explore the establishment of such an FTZ within a year.
On April 21, the Bangladesh Economic Zones Authority (BEZA) formed a national committee to assess the feasibility of establishing an FTZ in Bangladesh.
The committee’s first meeting is scheduled for Tuesday, with Chowdhury Ashik Mahmud, executive chairman of the Bangladesh Investment Development Authority (Bida) and BEZA, presiding over the session.
The committee includes representatives from BEZA, the Ministry of Commerce, the Economic Relations Division (ERD), the Ministry of Industries, the National Board of Revenue (NBR), the Chittagong Port Authority (CPA), and Bida.
The committee has been tasked with reviewing existing legislation—such as the Bangladesh Economic Zones Act, the Customs Act, and import-export regulations—and recommending necessary amendments or the formulation of new laws, rules, and guidelines conducive to the establishment of FTZs.
Commerce Adviser Sk Bashir Uddin, along with the executive chairman of BEZA and Bida, will jointly oversee the implementation of the FTZ initiative.
Regarding Bangladesh’s FTZ plans, Ashik Mahmud said: "We have initiated the process of transforming Bangladesh into a global manufacturing hub, and FTZs will play a pivotal role in that transformation."
He added that with effective coordination from the national committee and proactive support from relevant ministries, it should be possible to declare an FTZ within the current year.