Bangladesh allows partial exporters to import raw materials duty free

Exporters who cannot obtain a bonded warehouse licence under existing bond management conditions can now import raw materials or goods without paying customs duties, according to domestic media reports.

To avail of this benefit, importing companies must submit a bank guarantee equivalent to the customs duties assessed by the authorities on the imported items.

NBR expects the decision will help export-oriented industries maximise their production capacity, diversify exportable products and expand exports.

ALCHEMPro News Desk (DS)