Government issues new simplified import policy to boost trade

The government has issued a new import policy to make business operations easier and more dynamic in the country. The Ministry of Commerce recently published the 'Import Policy Order 2024-2026'. Under this new policy, importing various goods and raw materials from abroad will be much simpler than before. The rules have been designed to help general traders and industrial owners import goods quickly and effortlessly.

The new policy takes into account Bangladesh's upcoming graduation to a developing nation status in 2026. To keep pace with the global market, import regulations have been modernized. Specifically, the process of importing raw materials for local industries has been simplified to ensure uninterrupted production. At the same time, new regulations have been added to control the import of harmful or unnecessary goods.

Commerce Ministry officials stated that this new policy will help strengthen the country's economy. Emphasis has been placed on digital systems so that traders can clear their goods quickly without facing harassment. Business organizations across the country have welcomed the government's decision, hoping it will increase market supply and keep prices stable.

Experts believe that proper implementation of the new import policy will bring significant changes to the country's trade sector. However, to ensure smooth compliance, services at customs and ports must be further improved. The new policy is also expected to indirectly boost the country's export sector in the coming years.