Our Terms & Conditions | Our Privacy Policy
A long wait is over now for the golden-gate key as government’s revenue authority awarded Authorized Economic Operator (AEO) certificate to large corporate taxpayers for expeditiously clearing export-import cargoes through customs ports.
For faster and transparent processes of trade and investment certification and clearance, the AEO tool comes in sync with few other facilities, too, namely BSW, Import-Export Hub, and Customs Strategic Plan.
A total of 10 business biggies received AEO certificate at a cutting-edge function organised Sunday by the National Board of Revenue.
The recipients are Incepta Pharmaceuticals, Square Pharmaceuticals, Fair Electronics, ACI Godrej Agrovet, Popular Pharmaceuticals, Bangladesh Steel and Re-rolling Mills, GPS Ispat, Towa Personal Protective device Bangladesh, Berger Paints Bangladesh, and Unilever Bangladesh.
Companies certified under the AEO system will benefit from expedited clearance of imported goods and streamlined customs assessment for exports by following a standardized Standard Operating Procedure (SOP) through an automated process.
The AEO-certified businesses will now be able to self-assess up to 20 per cent of their shipments without customs intervention.
By utilizing self-assessment, these companies can directly clear their imported goods from the port and transfer them to their warehouses after paying customs duties.
The NBR organised an event on its premises to award the AEO status to nine companies. Md. Abdur Rahman Khan, Chairman of the National Board of Revenue, presided.
Chowdhury Ashiq Mahmud Bin Harun, Executive Chairman of Bangladesh Investment Development Authority (BIDA), attended the programme as chief guest and handed over AEO crests to the companies.
The BIDA chief questioned why it took 12 years to implement the AEO system, meant for accelerating trade clearance.
Referring to Youngone Corporation, Bangladesh, he said, “When receiving export orders, the company first considers its Vietnam operations before allocating the remaining orders to its Bangladesh unit-because Vietnam is far ahead in terms of lead time.”
The investment promoter stresses the need for addressing these issues that hinder trade, especially export.
The NBR chairman admitted that the authority has lagged in automation efforts.
“We have failed to implement the AEO system on time,” Mr Abdur Rahman Khan to the audience at the business meet.
He also notes that while tax evasion remains a persistent issue, compliant taxpayers often have to bear the pressure.
Less than 50 per cent of shipments from AEO-certified businesses will be subject to risk-management measures.
These companies will also be permitted to temporarily clear goods requiring chemical testing without waiting for the test results, enjoy priority in advance rulings, and, in cases where a bank guarantee is required, will be allowed to clear goods with a 75-percent guarantee and a 25-percent commitment.
This will significantly reduce both time and cost for compliant taxpayers.
The inaugural event featured a welcome speech by Kazi Mostafizur Rahman, NBR Member for Customs Audit, Modernization and International Trade.
Rupali Haque Chowdhury, Managing Director of Berger Paints Bangladesh Ltd and former President of the Federation of International Chambers of Commerce and Industry, and Mohammad Mesbauddin, Director of Fair Electronics Ltd, spoke on behalf of AEO-certified companies.
Among Bangladesh’s development partners, Hoe Yun Jeong, Country Director of the Asian Development Bank, and Michael J. Parr, Chief of Party of the Bangladesh Trade Facilitation Project, USDA, delivered speeches.
Special guests included Javed Akhtar, Chairman and Managing Director of Unilever Bangladesh Ltd and President of the Federation of International Chambers of Commerce and Industry.
In his speech, the BIDA executive chairman hailed the issuance and implementation of AEO certification as the beginning of a new era in trade facilitation in Bangladesh.
He expressed a note of optimism that AEO implementation would greatly benefit compliant importers and exporters by way of reducing both time and cost.
He also thanked the NBR for fulfilling a longstanding demand of the business community by launching AEO in Bangladesh.
At the programme, the NBR launched a dedicated online portal called ‘Import-Export Hub’ to enable importers and exporters to access regulatory requirements, HS codes, tariff calculations, and trade- facilitation measures before shipping goods.
The chief guest also officially inaugurated this portal, developed with funding from the USDA. A presentation was also delivered on the portal’s features.
During the presentation, NBR First Secretary (Customs) Amimul Ehsan Khan said, “Exporters and importers can now easily access all necessary documents and tariff-related information, including legal explanations, through this system. They no longer need to visit multiple offices to understand the process.”
Zaved Akhter, president of the Foreign Investors Chamber of Commerce and Industry (FICCI), praised the move to encourage foreign direct investment (FDI) and strengthen investor confidence in Bangladesh.
Zaved, also the chairman of Unilever Bangladesh Limited, assured that he would highlight this progress in Bangladesh’s digital transformation to global investors.
Rupali Chowdhury stressed the need for NBR’s central-level policy decisions to be effectively implemented at the field level.
She notes that most customs-related issues stem from complications with the Harmonized System (HS) Code.
Additionally, at the same event, the Customs Strategic Plan (2024-2028), developed by the NBR with financial assistance from the Asian Development Bank, was unveiled.
Also, to enhance international-trade facilitation, reduce costs, streamline clearance procedures and support legal trade, the National Board of Revenue launched ‘Bangladesh Single Window (BSW)’ on January 2, 2025, in compliance with WCO and WTO guidelines.
Within the first month of its implementation, seven regulatory authorities had issued over 100,000 certificates, licences, and permits online through BSW.
With the implementation of BSW, AEO, Import-Export Hub, and the Customs Strategic Plan (2024-2028), the National Board of Revenue aims to ensure transparency, efficiency, and accountability in import-export trade.
There have long been reports of opaque deeds in export-import trade-suspected under-and over-invoicing being the cardinal ones.
[email protected]
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.
Aggregated From –
Comments are closed.