The government has initiated to a move to simplify trade facilitation measures, aimed at boosting exports in line with global regulations and the requirements of major trading partners, including the United States and the European Union (EU), officials said.
The draft Import Policy Order (IPO) 2025-2028 is also expected to improve the ease of doing business in Bangladesh, according to Commerce Ministry officials.
They said the present government is prioritising finalisation of the draft and will open it for public hearings and stakeholder feedback shortly.
Earlier, the interim government initiated the drafting of the IPO 2025-2028 to strengthen the country's overall trade and export performance.
Talking to The Financial Express (FE), Commerce Ministry Secretary (routine charge) Md Abdur Rahim Khan said the policy has been revised in both language and scope to make it shorter, clearer and more user-friendly.
"Priority is being given to ensure that businesses without bond facilities can export goods easily through LCs or other mechanisms. Rational reforms are also being introduced in free-of-cost (FoC) raw material imports, although this will not be fully liberalised," he said.
He further said the draft policy is set to be published on the ministry website today (Thursday) for public feedback and will remain open for stakeholder consultation for two weeks.
After reviewing the feedback, its final version will be submitted to the cabinet for approval, he added.
Officials said efforts are underway to streamline LC (letter of credit) procedures and simplify export processes for non-bonded entities, with a focus on making trade more dynamic and inclusive.
Steps have been taken to address the existing legal and regulatory bottlenecks, including provisions to facilitate "sales contract"-based exports for firms that do not directly import raw materials, they mentioned.
Many businesses prefer exporting with their own financing without bond facilities, but they face LC-related complications under existing rules, according to them.
A draft policy aimed at addressing such issues has already been uploaded for public review, they added.
Officials further said the country's export performance is closely related to how effectively import policies support export-oriented industries by ensuring smooth import of raw materials, local value addition and re-export.
The draft IPO also places emphasis on automation of National Board of Revenue (NBR) systems, enabling customs duties and taxes to be collected electronically, which is expected to strengthen revenue administration.
It further introduces risk management in import cargo clearance and post-clearance audit mechanisms, according to officials.
Under the proposed framework, importers would be allowed to request a second test if initial inspection results are adverse-an option not previously available.
However, industry stakeholders have long been arguing that the business environment needs to be more supportive.
Officials said the implementation of the new policy is expected to improve the overall investment climate and support higher export growth.
Under the proposed provisions, export-oriented industries, including ready-made garments (RMG), leather and leather goods, footwear, shipbuilding, furniture and furnishing, will be allowed to import necessary raw materials free of cost, a move expected to enhance export competitiveness.
In a separate development, a senior commerce ministry official, preferring anonymity, said the United States Trade Representative (USTR) also sought updates on the draft IPO during a meeting with the commerce minister on Tuesday.
In response, the minister assured that the government was working to make the policy more business-friendly to facilitate global trade.
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