BB allows exporters to sell foreign consumers directly

The central bank has relaxed its foreign exchange regulations to facilitate business-to-consumer (B2C) exports by allowing Bangladeshi exporters to list and display goods on globally recognized online marketplaces and platforms accessible to foreign buyers.

As a result, cross-border e-commerce activities will further expand and it will be easier for small and medium entrepreneurs to enter the global market, according to those concerned.

Bangladesh Bank issued a circular in this regard on Monday.
It said that this initiative has been taken to facilitate business-to-consumer (B2C) based export activities and expand digital trade.

Under the new guidelines, Bangladeshi exporters will be able to list and display their products on internationally recognized online marketplaces and digital sales platforms.

Through this, foreign buyers will get the opportunity to purchase Bangladeshi products directly.

According to the circular, exporters can export small goods worth up to $5,000 per consignment on CFR (Cost and Freight-CFR) terms.

In addition, the obligation to submit EXP form has been relaxed for export consignments worth up to $1,000.

However, the entire amount of such exports must be received in advance through an approved banking channel or a valid digital payment system.

In addition, to further accelerate cross-border e-commerce, shipping documents have also been allowed to be issued directly in the name of foreign buyers.

As a result, the process of sending products directly to foreign consumers will be easier and faster.

The Bangladesh Bank directive also states that foreign buyers will have the opportunity to refund money in case of product returns, damaged products or complaints about the quality of the products.

At the same time, permission has also been given to legally send money abroad for the purpose of paying subscription, registration, membership and other service fees required to operate a business in an international online marketplace.

Industry insiders and e-commerce stakeholders welcomed the decision, noting that local entrepreneurs previously had to rely on a complex ‘Business-to-Business and Business-to-Consumer’ (B2B and B2C) model, which required pre-shipping goods abroad to be sold via local distributors or platform warehouses.

The new policy will pave the way for direct engagement with global consumers, benefiting sectors such as SMEs, handicrafts, leather goods, apparel, home decor, and agro-processed products, while accelerating product diversification and boosting foreign exchange earnings.