Dhaka: The government today cleared the draft of the Import Policy Order 2025-2028 aimed at strengthening the country‚¬Å¡¬€¦¡¬€š¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¾¢s overall trade and export performance. The Council of Advisers gave the approval at its weekly meeting at the Chief Adviser‚¬Å¡¬€¦¡¬€š¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¾¢s Office in the city. Chief Adviser Professor Muhammad Yunus chaired the meeting. Later, Chief Adviser’s Press Secretary Shafiqul Alam briefed the media about the outcomes of the meeting at the Foreign Service Academy here this afternoon.
According to Bangladesh Sangbad Sangstha, explaining the policy order, Shafiqul Alam stated that the country‚¬Å¡¬€¦¡¬€š¬¦¡¬‚¬Å¡¬€¦¡¬€š¬¦¾¢s ability to perform better in exports depends significantly on how effectively import policies are designed to encourage and support export-oriented activities. In many cases, import policy needs to be structured in a way that allows exportable goods and necessary inputs to be imported, processed locally, and then exported.
‚¬Å¡¬€¦¡¬€š¬¦¡¬€š¬…¡¬¦‚¬Å¡¬€¦¡¬€š¬¦‚¬Å¡¬€¦‚¬Å“With this objective in mind, the draft Import Policy Order was discussed extensively at the cabinet today, and following detailed deliberations, it received approval,‚¬Å¡¬€¦¡¬€š¬¦¡¬ Alam added. This approval to the policy order will help improve test trade facilitation significantly, with customs duties and taxes now being collected through electronic systems, which is expected to increase overall revenue collection.
The policy will also allow for risk management in import cargo clearance and post-clearance audit. Alam noted that if the first round of testing of imported goods yields adverse results, importers will now have the opportunity to apply for a second test, a facility that did not exist previously. The approved policy is also expected to improve the ease of doing business in Bangladesh.
A major complaint from both local and foreign businesses is that the business environment in the country is not sufficiently business-friendly. With the implementation of this policy, the business environment is expected to become more supportive, contributing to increased exports. Under the new provisions, export-oriented industries, including ready-made garments (RMG), leather and leather products, footwear, shipbuilding, furniture, and furnishing sectors, will be able to import necessary raw materials for production free of cost. This facility is expected to significantly boost export opportunities for these sectors.