Bangladesh Bank has given special discount on the export of e-commerce products. As a result, products worth up to USD 500 do not need to be filled in the EXP form for export through e-commerce. This exemption was given to encourage small exporters, which were mandatory until now.

On Monday (October 14), Bangladesh Bank’s Foreign Exchange and Policy Department issued a notification giving special concessions on e-commerce product exports. The central bank has given opportunity for business-to-consumer based exports under the e-commerce system.

In 2018, Bangladesh Bank introduced a business-to-consumer based export system under the e-commerce system under the condition of repatriation of the cost of sending goods abroad. In 2019, electronic submission of EXP form was introduced in case of business to consumer exports.

Filling of EXP form is mandatory in case of private export of any product from the country to foreign countries. The concerned Authorized Dealer (AD) bank declares the export of goods through the form on behalf of the customer. The exporters complained that ’14 types of documents have to be submitted in the export process.’

In the new guidelines, provision has been made for delivery of goods at fair price through designated express (courier) companies and customs related issues including bill of export. The condition of settlement of all expenses with export proceeds shall apply. After the shipment, the bank can deposit the export proceeds as the exporter after submitting the export documents including bill of export and courier receipt to the bank.