CPD-FES Publication
Digital Trade in Services
How Can Bangladesh Seize Opportunities?
Digitalisation has made the trade in services much easier. The expanding cross-border tradability of services is opening new opportunities for national economies and individuals. Trade in digital services is important for Bangladesh’s economic growth. The pandemic has expedited the adoption of digital technology in many sectors. This report explores how Bangladesh can benefit from digital trade in services and what it will take for Bangladesh to adapt to the new trade regime in the digital age. By looking at the preparedness in terms of access to technology and policy framework, the paper makes a number of recommendations for enabling the country to benefit from digital trade in services. The prospect of digital trade in Bangladesh is constrained by factors such as lack of adequate internet connectivity and information and communications technology (ICT) infrastructure, weaknesses in trade facilitation and trade logistics, inadequate skilled workforce, gender divide in digital literacy and knowledge, financial regulations and payment related complexities and lack of access to sufficient funds. In order to reap the full potential of digital trade in services, these hindrances will need to be removed. Additionally, the policymakers should play a proactive role in the global policymaking process, particularly in the context of multilateral trading system.
Authors: Fahmida Khatun and MD Kamruzzaman
Publication period: July 2021