Bangladesh Introduces New Export-Import License System

Bangladesh’s import and export license approval and renewal system is now online, allowing traders to “fast-track the approval process” and streamline export-import procedures, according to a July 24 report from the Hong Kong Trade Development Council. The system allows traders to apply for Bangladesh's Ministry of Commerce’s Export Registration Certificates and Import Registration Certificates. The move is part of the ministry's commitment under the World Trade Organization to digitize trade procedures and “cut costs for companies,” the report said. The move is expected to reduce paperwork, processing times and corruption “by ensuring traders do not have to make informal payments to secure permits,” the report said.