Govt approves draft import policy order to modernise import management

The Advisory Council has approved the draft Import Policy Order 2025-2028 to make import management more modern, transparent, and export-friendly.

Policymakers say the new policy will facilitate trade, improve ease of doing business, and help reduce production costs in export-oriented industries.

The draft was approved following detailed discussions at the council's weekly meeting today (29 January), according to the Chief Adviser's Press Secretary Shafiqul Alam.

He said the new import policy includes provisions to complete customs duty and tax collection entirely through electronic systems, which were only partially implemented under the current policy. This is expected to increase revenue collection while reducing corruption and irregularities. 

Risk-based management and post-clearance audit systems will be introduced for cargo release. In addition, a new provision allows importers to seek a second test if the initial test result is unfavourable – an option that did not previously exist.

The currently effective Import Policy Order 2021–2024 has reached the end of its term, under which traders had long been facing several challenges. These included complications in port clearance, mandatory multiple testing, manual customs procedures, and non-tariff barriers, all of which increased time and costs for businesses.

There were also complaints that insufficient policy flexibility in importing raw materials for export-oriented industries was disrupting production processes.

Increased benefits for export-oriented industries

Shafiqul Alam said the new policy recommends allowing firms in the ready-made garments (RMG), leather and leather goods, footwear, shipbuilding, furniture, and furnishing sectors to import required production inputs on a free-of-cost (FOC) basis. "This is expected to reduce production costs and enhance competitiveness in international markets."

Free-of-cost imports refer to a process where goods or raw materials are brought in from abroad without any foreign currency payment or financial transaction. This is typically applicable for samples, replacements, or raw materials imported under special contractual arrangements.

Under existing regulations of Bangladesh's Customs Bond Commissionerate, such imports are already allowed under specific conditions. However, the benefit is currently limited to imports not exceeding 50% of the exporter's existing export volume.

The new policy also places emphasis on reducing various types of non-tariff barriers (NTBs). At the same time, necessary policy alignments in import management have been incorporated in line with the proposed Free Trade Zone initiative, Shafiqul Alam added.