BANGLADESH: Export Processing Zones Set for Faster Customs Services
22 October 2021
Customs-related services in the country’s Export Processing Zones (EPZs) are to be accelerated for both local and foreign investors. The move follows the signing of a Memorandum of Understanding (MOU) between the Bangladesh Export Processing Zones Authority (BEPZA) and the National Board of Revenue (NBR) that will give EPZ investors access to 21 categories of customs-related services via a dedicated online portal.
Among the services covered by this new provision are the issuance of import-export customs permissions; bond registration and permissions to bring-back/ship-back, as well as the release of duty-free import goods by hand-carry; machine loans; and bond-to-bond transfer. In addition, several other services fall within the MOU’s remit, most notably machine repair permissions; no-objection certification and clearance to sell secondhand machinery in the Domestic Tariff Area; and the inspection and clearance of export and import goods, containers and cargo. Access to EPZ commissariat services is also expected to be streamlined by the move.
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