Doing export and import from a Bangladeshi aspect

Export-import from a Bangladeshi Perspective at a glance

1. DOING EXPORT & IMPORT FROM A BANGLA DESHI ASPECT PRESENTED BY SADMAN FUAD SAKIB ID - 167 IB-408 Export Import Process

2. PRESENTATION TAKEWAYS OVERVIEW WHAT DOES BANGLADESH EXPORT & IMPORT? 01 02 03 04 WHERE DOES BANGLADESH EXPORT TO & IMPORT FROM? EXPORT & IMPORT PROHIBITED GOODS IN BANGLADESH EXPORT & IMPORT PROCESS IN BANGLADESH 05 EXPORT & IMPORT POLICY ORDER - AT A GLANCE 06

3. OVERVIEW In 2022, Bangladesh was the number 34 economy in the world in terms of GDP (current US$), the number 52 in total exports , the number 47 in total imports , the number 136 economy in terms of GDP per capita (current US$) and the number 100 most complex economy according to the Economic Complexity Index (ECI) . Source: OEC

4. WHAT DOES BANGLADESH EXPORT? (2022)

5. WHAT DOES BANGLADESH IMPORT? (2022)

6. WHERE DOES BANGLADESH EXPORT TO?

7. WHERE DOES BANGLADESH IMPORT FROM?

8. SOME EXPORT PROHIBITED GOODS PETROLEUM AND PETROLEUM PRODUCTS JUTE & SHAN SEEDS 01 02 03 04 RICE (EXCEPT AROMATIC RICE) FIREARMS, AMMUNITION, RADIO-ACTIVE PRODUCTS 05 PULSE, GARLIC, ONION, GINGER ETC 06 ARCHEOLOGICAL RELICS 07 ALL TYPES OF FROGS (ALIVE OR DEAD, FROG LEGS 08 ALL SHRIMPS EXCEPT CHILLED, PROCESSED OR FROZEN ONES 09 10 HUMAN SKELETON, BLOOD PLASMA OR ANYTHING PRODUCED FROM HUMAN BEINGS OR HUMAN BLOOD CANE, WOOD, WOOD LOGS (EXCEPT HANDICRAFTS MADE FROM THESE MATERIALS) Source: Export Policy 2021-2024

9. SOME NON-IMPORTABLE GOODS MAPS, CHARTS & GLOBE WHICH DO NOT INDICATE TERRITORY OF BANGLADESH CONCENTRATED SUGAR-SODIUM CYCLAMATE 01 02 03 PRODUCTS AND EQUIPMENTS OF SUB-STANDARD QUALITY 04 CHEMICALS LIKE ENDRINE, DDT, DI-ELDRINE, MIREX, TOXAPHEN, PCB ETC 05 06 BOOKS, MAGAZINES, PUBLICATIONS CONTAINING INDECENT AND SUBVERSIVE CONTENTS CASINO ALONG WITH EQUIPMENTS RELATED TO GAMBLING 08 LIVE BOAR AND PORK MEAT 07 THREE WHEELER VEHICLE WITH TWO STROKE ENGINE, SECOND HAND/OLD MOTORCYCLES Source: Import Policy Order 2021-2024

10. Submission of Manifest Data Shipping agents submit manifest data electronically to Customs. 1 2 3 4 5 Documentary Submission Requirements Le tter of Credit (L/C) Invoice Bill of Lading/Airway Bill/Truck Receipt/Railway Receipt Packing List "Country of Origin" Certificate (except for coal and export-oriented garments) Insurance policy/cover note VAT/BIN Certificate Submission of Import General Manifest (IGM) The nominated C&F Agent or the importer completes the goods declaration (Bill of Entry) and submits it through ASYCUDA World. Additional Requirements for Specific Goods Vary by goods type, including certificates and test reports. Payment of Duties and Taxes Upon assessment by Customs, importer pays duties and taxes. 6 Special Clearance Procedures 7 Clearance Process 8 Quarantine Requirements 10 9 Provisional Assessment Disposal of Unclaimed Consignments IMPORT PROCESS IN BANGLADESH Goods are cleared after port formalities completion. Different procedures for samples and specific goods. Import of animals, plants, and products must meet quarantine conditions. Auction process for unclaimed goods In cases of incomplete assessment, provisional assessment allowed with bank guarantee.

11. 1 2 3 4 5 Export Declaration Submission Required under Section 131 of the Customs Act, 1969. Goods can't be loaded for export without a submitted and approved export declaration (Bill of Export/Shipping Bill). Additional Certifications/Documents ERC for jute, ju te goods, and tea. Export permit from Bangladesh Tea Board for tea. Approval from Ministry of Industries for Urea fertilizer. NOC from Ministry of Information for entertainment exports. Phytosanitary certificate for agricultural goods. Quality control certificate for regulated products. NOC from CCI&E and Bangladesh Bank for export-cum-import. Documentation Required Export L/C or alternative export guarantee. Commercial invoice with detailed goods description. Packing list with quantity, weight, and packing info. EXP form certified by Authorized Dealers (ADs). Certificate of Origin. VAT registration certificate and Taxpayer Identification Number (TIN). Additional certifications for specific products. Customs Approval and Physical Verification Customs authority approves declaration after documentary check. Physical verification of export consignments may occur. Upon approval, exportable goods are loaded into containers and stuffed into transportation mode. Completion of Export Export is finalized once transportation mode leaves the port. Customs officer signs on the shipping bill to confirm shipment. At private ICDs/exporters’ premises, goods may be checked before proceeding to port area. EXPORT PROCESS IN BANGLADESH

12. 01 03 02 The new export policy aims to encourage the exploration of new markets and products. It emphasizes export-led growth and aims to generate employment to offset challenges induced by the Covid-19 pandemic The government of Bangladesh published the export policy for FY 2021-24 on 27th March 2022 04 The policy gives highest priority to 14 sectors, mainly to boost foreign-currency earnings. These sectors include Ready-Made Garments (RMG), ICT services, software, BPO, and more. Additionally, the policy encourages diversification into non-RMG sectors The government has set an ambitious export target of $80 billion for the fiscal year 2024 . This target represents a significant increase from the previous fiscal year’s target of $60 billion BANGLADESH’S EXPORT POLICY (2021-2024) - AT A GLANCE

13. 01 03 02 Import-related fees will be announced through gazette notifications , and membership requirements may be addressed through the newly approved Trade Organization (TO) bill 2022 The long awaited import policy order (IPO) was published on April 24, 2022 through an SRO no 92-ain/2022 as per provision of section 3(1) of Import and Export Control Act, 1950(Act No XXXIX of 1950) 04 Import of raw materials and packaging products have been simplified, as like BGMEA, BKMEA will be allowed to issue Utilization Declaration (UD) as per entitlement, even products of controlled items can be imported if required for export. It will help increase RMG and Knit garments export. The earlier Import Policy (2015-2018) had nine chapters but has been streamlined in the current version. Notably, chapters on fees for import and mandatory membership from recognized chambers and trade associations have been dropped . BANGLADESH’S IMPORT POLICY (2021-2024) - AT A GLANCE

14. Today, Bangladesh, is the only LDC involved in pharmaceuticals and . Domestic production meets 98% of the country’s needs.medicines’ manufacturing 01 Bangladesh needs to continue diversifying its production structure and exports, tackle its vulnerability to natural disasters and reduce its exposure to fluctuations in global commodity markets. 02 Future- ready the State. Shift the mindset in doing business. Modernise the policy approach. 03 CONCLUSION

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