Conditional export of betel nut allowed

The government has decided to conditionally allow export of betel nut after four years of suspension, a high official at the ministry of commerce (MoC) has said.
Following a recommendation from the  parliamentary standing committee the MoC in October 16, 2012 had imposed ban on export of all types of betel nut from outside the export processing zones (EPZ) as a section of dishonest businessmen were found to be involved with money laundering under the cover of re-export of betel nut.    
However, according to the fresh decision, locally grown raw betel nut with shell can be shipped from outside the EPZs, and no exporters but the factories in operation in the EPZs will be allowed to ship imported betel nut after value addition.
The new decisions also include the factories in operation in the EPZs have to re-export their imported betel nut within ten weeks of import and the authorities concerned will regularly make follow-ups on betel nut factories situated in the Mongla EPZ on whether the required amount of value addition has been made or not.
However, according to the MoC official, the government has taken the decision to keep export earning from the betel nut intact along with preventing scope of money laundering.
"We noticed that export of betel nut from the country was decreasing over the last two years despite immense potential, so we have decided to conditionally allow export of the item," the MoC official told the FE preferring anonymity.
"We are very much aware of money laundering under the cover of such export for which we have also taken preventive measures," he added.
According to the data of Export Promotion Bureau (EPB), the country has earned US$ 61.01 million against export of betel nut in the last fiscal year (FY) which was $ 67.42 million in FY 2012-13 and $ 48.35 in FY 2011-12.
Besides, during the July-March period of the current FY, export earning from betel nut was $ 32.02 million.
However, vice-chairman of EPB, Suvashis Bose, said putting ban on export cannot be a permanent solution to stopping money laundering, we have to find out ways of such unethical practice keeping export earnings intact.
"It had been proved that a section of unscrupulous people were involved with money laundering under the cover of betel nut export.
We have imposed ban on export of the item to tackle the practice immediately. Now we are looking for ways so that country's export earning would not be hampered but the unethical practice would be prevented," he added.
Meanwhile, according to the MoC, the country yearly produces 0.23 million tonnes of betel nut against local demand of 0.24 million tonnes.
Bangladesh mainly exports betel nut to India, UK, Saudi Arabia, United Arab Emirates (UAE) and some other Middle Eastern countries.
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