Bangladesh Export Policy 2009-2012

Topics: Currency, Bangladesh, Foreign exchange reserves Pages: 8 (2818 words) Published: May 15, 2013
Import Policy 2009-2012
1. General Provisions for Import
Regulation of Import- Import of goods under this Order shall be regulated as follows: * Unless otherwise specified in this order, the items banned for import in the list shall not be importable: Provided that, those items which are importable on fulfillment of certain conditions specified in the list shall be importable on fulfillment of those conditions. * Except the items specified in the article 3(a), all other items are importable freely. * While determining the import status of an item mentioned in the „Control List‟, if the description of goods does not conform to the H. S. Code mentioned against the item or any discrepancy arises between the H.S. Code and the description of goods, in that case the description of goods shall prevail. Conditions for regulating import

If the import of an item was restricted before coming into effect of this Order or if such restriction has been made effective due to the inclusion of the item in the Control List annexed to this Order or for imposition of any other condition such restriction shall be subject to the following conditions :-- (a) In case any restriction is imposed on import of a particular commodity with a view to protecting the interest of a local industry the concerned sponsoring authority / Bangladesh Tariff Commission shall strictly monitor production of that industrial unit regularly; (b)The industrial units (Protected Industry) which are specially engaged in “assembling type” activities shall have to move towards progressive manufacture actively and expeditiously; (c) Except due to the rise of price of raw materials or the decline in the rate of exchange, if the increase in the price of an item increases or the price of finished product is disproportionately higher than the rise in the price of the raw materials in the international market, the ban on the import may be revoked on the recommendation of the concerned sponsoring authority or Bangladesh Tariff Commission; (d) Goods from Israel or goods produced in that country and also goods carried in the flag vessels of that country shall not be importable. (e) However, if anyone is aggrieved by any decision regarding ban or restriction on import of any item, he can refer his representation to the Bangladesh Tariff Commission. The Bangladesh Tariff Commission will duly examine such a representation and furnish its recommendation(s) to the Ministry of Commerce for consideration. General Conditions of Import of goods

For import purpose, use of H.S. Code with at least eight digits corresponding to the classification of goods as given in the First Schedule of the Customs Act, 1969 (Act No. IV of 1969) based on the Harmonized Commodity Description and Coding System, shall be mandatory: Provided that, Bank shall not issue L.C. Authorization form or open L/C without properly mentioning H.S. Code number for the item(s) correctly. Source of finance:

Import may be allowed under the following sources of finance, as: --- (a) Cash –
(i) Cash foreign exchange (balance of the foreign exchange reserve of Bangladesh Bank); (ii) Foreign currency accounts maintained by Bangladeshi Nationals working/living abroad; (iii) External economic aid (Commodity Aid, Loan, Grant);

(iv) Commodity exchange: Barter and Special Trading Arrangement (STA). (b) Commercial importers and industrial consumers may utilize their respective shares under Barter/STA as per basis notified. (c) Import under the Special Trading Arrangements (STA) which are or were concluded with prior approval/permission of the government, shall be subject to the specific procedures laid down by the government in this respect. (d) The provision of sub-para (a) (IV) of this para will remain effective only up to the time of completion of on-going agreements.

2. Import procedure:
Import License not required- Unless otherwise specified, no import license will be necessary for import of any item. Import against...
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