Bangladesh : Chittagong plays a significant role in regional connectivity across the Indian subcontinent and South Asia, thanks to its strategic geographic location
Although Chittagong is often dubbed the commercial capital of Bangladesh, the city has been more or less neglected by the government since independence, say economists, experts, businesses, and other stakeholders.
They say the title “Commercial Capital” is only a slogan used as a political tool, while the government’s action and policies to transform the city are conspicuously absent.
Chittagong plays a significant role in regional connectivity across the Indian subcontinent and South Asia, thanks to its strategic geographic location.
It has the potential to become a global financial centre and regional transhipment hub for northeast India, Myanmar, Nepal, Bhutan, and southeast China.
The British, and even the Pakistanis , prioritized Chittagong considering its location and potentiality.
“Globally, port cities are given special importance for the economic development of countries, and these cities are developed as commercial capitals or hubs,” Chittagong Chamber of Commerce and Industry (CCCI) President Mahbubul Alam told the Dhaka Tribune.
“For example, Mumbai and New York, are given priority just for having seaports,” he pointed out, adding, “Chittagong has huge potential for being the commercial capital of Bangladesh.”
Alam said Chittagong’s natural advantages – such as having one of the one hundred top-listed seaports in the world and its geographical location, and the potential for a deep-sea port – are enough reasons to make political leaders and policymakers take initiatives to turn the city into a commercial capital.
“Moreover, there is huge potential for river connectivity, tourism, blue economy, and opportunity to produce sufficient power and energy,” he added.
According to businesses, around 98% of container export and import is conducted through Chittagong port.
The Chittagong EPZ, one of Bangladesh’s biggest export processing zones, Sitakundu, Kalurghat, and Mohra heavy industrial zones, two huge depots of fuel oil, two gas fields, 22 tea gardens, and a prime tea auction centre are located beside the seaport.
