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Six more EPZ goods up for local sale

FE REPORT | November 09, 2019 00:00:00

The government has allowed the sale of six more products, made at the export processing zones (EPZ), in the local market by paying applicable taxes.

The products are mainly electronics items manufactured by Op-Seed Co (BD) Ltd, a company headquartered in Tokyo, officials said.

The products which were given the green light to sell locally are LED board light, LED strip, LED fluorescent lamp, LED tube light, LED driver and adaptor.

Officials said a meeting, chaired by prime minister's principal secretary Nojibur Rahman, last Tuesday gave the approval taking into consideration the products are not made by local industry.

The demand for these products is mainly being met through importing from China and some other countries, according to a Bangladesh Tariff Commission report.

It said Op-Seed's products are long-lasting, made by using the state-of-the-art technology, and can be used after repairs.

A senior official, who attended the meeting, said until now some 127 EPZ-made products were given the go-ahead to sell in the local market.

"The products are of high quality. Thus, local people will benefit from this decision," he told the FE.

After getting permission, an EPZ-based company can sell 10 per cent of its total production locally.

Local traders can import goods from those companies by opening letters of credit, said the official.

They can get goods at comparatively low rates, in less time and without spending a lot of money as transportation costs, he concluded.

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