The National Board of Revenue (NBR) has finalised a five-year strategic plan for customs aiming at modernising customs procedures, reducing trade costs and improving revenue performance.

The proper implementation of the plan would significantly reduce trade costs, improve revenue performance, develop essential infrastructure, introduce crucial legal reforms, and build the capacity of customs officials and ultimately facilitate smoother trade operations, according to the NBR.

The plan will be published soon, Sayed A Momen, senior information officer at the NBR, said after a workshop on the finalisation of the strategic plan for 2024-2028 at InterContinental Dhaka yesterday.

Senior Secretary of the Internal Resources Division and NBR Chairman Abu Hena Md Rahmatul Muneen, Asian Development Bank Country Director Edimon Ginting, Member of Customs Modernisation Farzana Afrose and other officials were also present in the workshop.

The customs authority said significant progress has been made in the implementation of customs modernisation strategic action plans for 2019-2022 and 2014-2017 and scope for further development is there.

"The Strategic Plan 2024-2028 will build upon the implemented and ongoing reforms and propel the transformation of Bangladesh customs wing towards realising the vision of the smart customs wing by 2041," it said.

The NBR said Bangladesh has made impressive progress on both social and economic spheres in recent years.

The nation is set to graduate from the least developed country category by 2026.

"As part of enhancing trade competitiveness and preparedness for graduation, timely implementation of this plan will play a crucial role in transforming our customs operations into smart customs, underpinned by modern technology and processes, steering the country towards becoming Smart Bangladesh by 2041."

The customs authority said it has already framed the Customs Act 2023.

The NBR said it implements the Bangladesh Single Window scheme to provide hassle-free services to the traders and cut costs of cross-border trade.

The authority said it has structured the strategic plan around four key pillars -- revenue management, trade facilitation and partnerships, safety and security and development of the organisation and human capital.