USDA launches $27m trade facilitation project for Bangladesh
US Department of Agriculture (USDA) today launched a $27 million project to support the government to expand cross border trade in agricultural goods by simplifying and automating import and export processes and improve capacity of laboratories and warehouses.
The five-year scheme, Bangladesh Trade Facilitation Project, also aims to work on fostering private and public investment in cold storages facilities and temperature controlled logistics to make international trade of agricultural products more efficient.
Land O'Lakes Venture37, a US-based not-for-profit economic and agricultural development organisation, will implement the project to end in September 2025.
"The goal is to increase Bangladesh's ability to expand and diversify its exports, ensure safety and quality of imported food items, and to improve its institutional systems for agricultural trade," said Commerce Minister Tipu Munshi at the launch of the project at hotel InterContinental Dhaka.
US Ambassador to Bangladesh Earl R Miller said, "This project will facilitate and incentivise investment, construction, and the operation of new cold storage facilities to improve and expand on Bangladesh's refrigerated logistics network."