, Oct. 26 -- The government has taken a series of reforms to the bonded warehouse system, customs procedures and export incentives to reduce business costs, simplify import and export operations, and help diversify Bangladesh's export base beyond readymade garments (RMG).

According to the budget document, the measures aimed to extend bond facilities to more export-oriented industries, reduce regulatory hurdles for compliant businesses, speed up customs clearance and encourage investment in new export sectors.

The bonded warehouse system, which allows export-oriented industries to import raw materials duty-free for producing goods for export, has played a major role in the growth of the RMG sector.

The government now wants other promisi...