Improving Seaport Facilities to Develop Freight Transportation System in Bangladesh

Abstract

Shipping is the most critical globalized trade of the world. Seaport plays a significant role on behalf of the maritime nation for dominating in world trade. Bangladesh is the least developed countries (LDCs) of the world who process the sea area naturally. Cheap labour, available land and excellent maritime access are created good environment to attract the world trader. Moreover, natural disadvantages of sea access and partially or fully land-locked condition of neighbouring countries like India, Nepal, Bhutan, China and Myanmar created the opportunity to do maritime business with them. Facing this derived demand, need to develop seaport facilities and others for earning foreign exchange and minimizing the domestics growing demand. More handling of cargo at port means the more business of the nation. It will create the situation for increasing own flag vessel, shipping business and well structured transport system in the country. This is the economics of maritime transport by which nation can create another source of GDP (Gross Domestic Product). This paper aims to find out the ways how to develop Bangladeshi seaports and they can get economical benefits from maritime business through port transport. Moreover, this document features possible solutions and recommendations for developing the Bangladesh port industry and set out a timely and economical strategy to enable the industry to play a key role in the region.

Keywords: Maritime, LDC, China, Foreign Exchange, GDP, Business.