Bangladesh Essay

1416 words - 6 pages

Export Control in Bangladesh
1. Introduction: Bangladesh emerged as an independent country in 1971. She entered into International Trade actively since 1972. In the early years of independence the gap between Import and Export was very wide. This gap started to decrease from 1980s when Bangladesh adopted liberal trade policy consistent with the emerging trend of the market economy. Extensive reform programs have been implemented in trade regimes during the last two decades. The prime objective of the trade policy of Bangladesh is to strengthen the economy. For achieving this objective Bangladesh has adopted export-based development strategy. As export sector is the main sources of ...view middle of the document...

The product-wise export earnings from major exports are shown below:

Brief on Export Control in Bangladesh

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4. Market Share: The major countries to which Bangladesh are exporting are USA, Germany, UK, France, Belgium, Italy, Netherlands, Canada, and Japan. The USA is the main destination of our export commodities which is 28.79% of the total exports. The second and third positions are held by Germany and UK which constitute 16.76% and 9.96% respectively. The principle items exported to these countries are readymade garments, frozen foods and home textiles. The country-wise exports figures are shown below:

5. Trend of Export Earnings: The exports of Bangladesh have been experiencing a steady rise since the late 80s of which apparels constitute approximately 75% of the total exports. Other items include frozen foods, jute & jute products, leather & leather products, handicrafts, vegetables, chemical products etc. Major export markets for Bangladeshi exporters are North America (33%) and EU (52%) while other regions constitute the rest. In Fiscal Year 2006-07, total exports earnings of Bangladesh exceeded US$ 12 billion.The trend of Bangladeshi exports from FY 1972-72 to 2006-07 iis shown below.

Brief on Export Control in Bangladesh

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6. Export Control: Rules, Regulation, and Controlling Authority: In Bangladesh all trading activities are regulated by the Ministry of Commerce of the Government of Bangladesh under The Imports and Exports (Control), Act 1950. The Export Policy under the aforementioned Act is issued every three years by the Ministry of Commerce on behalf of the government. However, the Ministry can impose a ban or attach conditions, in the public interest, on an exportable at any time. Moreover, the Ministry of Commerce, through its office of the Chief Controller of Imports & Exports (CCI&E) is also responsible for issuance of Export Registration and/or Permits to the intending exporters. On the other hand, any tariff/tax related issues are determined by the National Board of Revenue (NBR),an entity under the Ministry of Finance.Bangladesh Customs a department of NBR is the enforcement agency of the Eexport Policy.

7. Export Control: Prohibitions and Restrictions: According to the current Export
Policy, 2006-2009, the government has prohibited or imposed conditions on the exports of following products. (Please visit www.mincom.gov.bd for full text of the Export Policy and other information) A. Prohibited Products i) All petroleum and petroleum products except naphtha, furnace oil, lubricant oil and bitumen. ii) Jute and `Shan’ seeds iii) Wheat iv) Any kind of live animal, animal organs or hide/ skin of wild animals. v) Fire arms, ammunition and related materials. vi) Radioactive materials. vii) Archeological Relics. viii) Human skeleton, blood plasma, or any product produced from human or human blood. ix) All types of pulses, except processed ones. x) All shrimps except chilled, frozen...

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