Import Policy Order 2025-2028: Govt approves draft to boost trade, exports

Business Report :

The government on Thursday cleared the draft of the Import Policy Order 2025-2028 aimed at strengthening the country’s overall trade and export performance.

The Council of Advisers gave the approval at its weekly meeting at the Chief Adviser’s Office in the city. Chief Adviser Professor Muhammad Yunus chaired the meeting.

Later, Chief Adviser’s Press Secretary Shafiqul Alam briefed the media about the outcomes of the meeting at the Foreign Service Academy here this afternoon.

Explaining the policy order, he said that the country’s ability to perform better in exports depends to a large extent on how effectively import policies are designed to encourage and support export-oriented activities.

In many cases, import policy needs to be structured in such a way that exportable goods and necessary inputs can be brought into the country, processed locally, and then sent abroad, the press secretary said.

“With this objective in mind, the draft Import Policy Order was discussed extensively at the cabinet today, and following detailed deliberations, it received approval,” he added.

This approval to the policy order will help improve test trade facilitation significantly, Shafiqul Alam said, adding, now customs duties and taxes will be collected through electronic systems, which is expected to increase overall revenue collection.

Noting that the policy will allow following risk management in import cargo clearance and post-clearance audit, he said, adding, as a result, if the first round of testing of imported goods yields adverse results, importers will now have the opportunity to apply for a second test, a facility that did not exist previously.

The approved policy is also expected to improve the ease of doing business in Bangladesh, the press secretary said.

When a major complaint from both local and foreign businesses is that the business environment in the country is not sufficiently business-friendly, he said, with the implementation of this policy, the business environment is expected to become more supportive, contributing to increased exports.

Under the new provisions, export-oriented industries, including ready-made garments (RMG), leather and leather products, footwear, shipbuilding, furniture, and furnishing sectors, will be able to import necessary raw materials for production free of cost, Shafiqul Alam said, adding, this facility is expected to significantly boost export opportunity for these sectors.

Chief Adviser’s Press Secretary, Shafiqul Alam, briefed journalists at the Foreign Service Academy on Thursday.