Indefinite transport strike hits Bangladesh's foreign trade

09 Nov '21

1 min read

Pic: Phartisan|Dreamstime.com

An indefinite transport strike in Bangladesh that began on November 5 as part of reaction to a fuel-price hike has halted shipping services and has disrupted its foreign trade at a time when export and import both had began picking up after a long recession following the COVID-19 pandemic. The strike has hit the supply chain as imported raw materials remain stuck at the Chittagong Port.

Around 5,000 trucks that transport imported goods from the seaport every day have stopped, a Bangladesh newspaper reported.

Shipping executives say this will push up chartering cost by $20,000 a day. However, they will adjust the escalated cost with the freights and it is the people who will ultimately pay for that.

"The transport strike is proving one of the most calamitous economic events as it has chain effect on all economic sectors," said Syed Mohammad Arif, president of Bangladesh Shipping Agents Association (BSAA), a trade- promotional body of around 500 shipping firms in Bangladesh.

He feels a fresh shipping congestion will be created at the premier port if the standstill continues further.

ALCHEMPro News Desk (DS)

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