final export import-1

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Assignment

On

Import Trend of Bangladesh (2001-2009)

Course Title: Export Import Management (IBS-3338)

Submitted to:

Maruf Reza Byron

Faculty, UIU

Submitted by

Date of Submission

15.3.2011

UNITED INTERNATIONAL UNIVERSITY

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Table of Content

Content Page No.

Introduction 3

IMPORT TRADE CONTROL (ITC)

COMMITTEE3

Regulation of import 4

Import duties 5

Source of finance 6

Bangladesh imports: Commodities 7

Bangladesh Import Commodities 2001-09 8-12

Bangladesh trade growth 13

Changes in import 13

Conclusion 14

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Introduction

The term "import" is derived from the conceptual meaning as to bring in the goods and

services into the port of a country. The buyer of such goods and services is referred to an

"importer" who is based in the country of import whereas the overseas based seller is

referred to as an "exporter. Thus an import is any good (e.g. a commodity) orservice

brought in from one country to another country in a legitimate fashion, typically for use

in trade. It is a good that is brought in from another country for sale. Import goods or

services are provided to domestic consumers by foreign producers. An import in the

receiving country is an export to the sending country. In Bangladesh, there are some

commodities that people import to some country.

IMPORT TRADE CONTROL (ITC) COMMITTEE

ITC Committee: ---

(1) In case of any dispute between an importer and the Customs Authority on

ITC classification or description of goods imported under First Schedule of

Customs Act., importer may ask for adjudication by the local ITC

Committee set up at Chittagong, Dhaka, Khulna, Benapole and Sylhet.

(2) The local ITC Committees will consist of representatives of the Chief

Controller, Local Chamber of Commerce and Industry and the Customs

Authority and will be headed by the representative of the Chief Controller.

(3) If the local ITC Committee is required to discuss and take decision

about any special type of item, a representative from the concerned Trade

Association which represents that particular item shall also be invited to

attend the relevant meeting of the Committee.

(4) The importer concerned shall be given an opportunity to plead his case

before the local ITC Committee. Necessary decision shall be taken by the

above Committee within 15(fifteen) days.

3
http://en.wikipedia.org/wiki/Good_(economics_and_accounting)http://en.wikipedia.org/wiki/Commodityhttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Tradehttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Production,_costs,_and_pricinghttp://en.wikipedia.org/wiki/Exporthttp://en.wikipedia.org/wiki/Good_(economics_and_accounting)http://en.wikipedia.org/wiki/Commodityhttp://en.wikipedia.org/wiki/Service_(economics)http://en.wikipedia.org/wiki/Tradehttp://en.wikipedia.org/wiki/Consumerhttp://en.wikipedia.org/wiki/Production,_costs,_and_pricinghttp://en.wikipedia.org/wiki/Export


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(5) If the importer is not satisfied with the decision of the local ITC

Committee, he may file an appeal to the Central ITC Committee at Dhaka

which shall consist of the Chief Controller as the Chairman and

representative of the National Board of Revenue, the concerned

sponsoring authority and the Federation of Bangladesh Chamber of

Commerce and Industry as members.

(6) A revision petition may be filed with the Secretary, Ministry of

Commerce in accordance with the Review. Appeal and Revision Order,

1977, if the decision in appeal does not satisfy the importer.

(7) In addition to appeal petition, the Chief Controller may, if he considers

necessary, place any case relating to ITC matter before the Central ITC

Committee.

Regulation of Import

Import of goods under this Order shall be regulated as under:

(a) Banned list: Unless otherwise specified, items included in this list can not be

imported. List of import banned items has been attached in annexure - I;

(b) Restricted list: Any item included in this list shall be importable only on fulfillmentof the conditions (b) specified there in against the item. The list of restricted items has

been attached in annexure - I (b);

(c) Freely Importable Items: Unless otherwise specified, any item, which does not

appear either in banned or in restricted list shall be freely importable;

(d) In addition to the conditions mentioned in the Restricted and Banned Lists, the

conditions, restrictions and procedures for import of various items mentioned in the text

portion of this order, shall as usual apply in case of import of those items;

(e) If, while determining the import status of an item mentioned in the Restricted andBanned Lists, the description of goods does not conform to the H. S. code mentioned

against the item or any discrepancy arises between the H. S. Code and the description of

goods in that case the description of good shall prevail;

(f) Conditions of Ban and Restriction: If the import of an item had been banned at anytime before the coming into effect of this Order or if such ban has been made effective

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by virtue of the placement of the item in the control list annexed to this Order such ban

such shall be subject to the following conditions:

(i) The concerned sponsoring authority/Tariff commission shall strictly monitorproduction of the industrial unit which is being afforded protection by the ban. The ban

may be revoked on the recommendation of the concerned sponsoring authority/TariffCommission if the quality of products deteriorates and the price of the product is not

maintained at satisfactory level or if production level fails leaving unutilized capacity.Such of the protected units as are now primarily engaged in assembly type activities

shall actively and expeditiously move towards progressive manufacture.

(ii) The sponsoring authority concerned and Tariff Commission shall continuously

monitor the prices of the items covered by such ban to guard against undue increase ofprice. If the price of any item is increased except for factors like rise in the price of raw

materials or decline in the rate of exchange or if the increase in the price of the item is

disproportionately higher compared to the rise in the price of the raw material, the ban

may be revoked on the recommendation of Tariff Commission/sponsoring authority.

(iii) Whoever feels aggrieved by any decision regarding ban or restriction on import of

any item can represent his case to the Tariff Commission. The Tariff Commission will

duly examine such a representation and furnish as early as possible its recommendation(s) to the Ministry of Commerce for latter's consideration.

Import Duties

Despite some recent reductions, tariffs in Bangladesh remain high, averaging over 50

percent. At the recommendation of the World Bank, Bangladesh has placed a 100 percent

tariff ceiling on most goods, with the intention of bringing the ceiling down to 60 percentin fiscal year 1993-94. A value-added tax (VAT) of 10 to 20 percent and additional fees,

typically adding up to 15 percent of the cost and freight value, are also applied to imports.

Duties are reduced to 2.5 percent for installation of imported machinery in less developed

areas. Duties are also reduced to 2.5 percent for capital machinery and factories which

use 70 percent or more indigenous materials and for imported machinery for export-

oriented industries. Exemptions from duties and the import sales tax are available for avariety of goods.

Source of finance

1. Import may be allowed under the following sources of finance:

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(a) Cash -

(i) Cash foreign exchange (balance of the foreign exchange reserve ofBangladesh Bank);

(ii) Foreign currency accounts maintained by Bangladeshi nationalsworking/living abroad;

(b) External economic aid (Commodity Aid, Loan, Credit or Grant);

(c) Commodity exchange: Barter and special trading arrangement(STA); this source shall be abolished as and when present agreementsexpire.

2. Commercial importers and industrial consumes may utilize theirrespective shares under Barter/STA as per basis notified.

(3) Import under the Special Trading Arrangements (STA) which are orwere concluded with prior approval/permission of the government,shall be subject to the specific procedures laid down by thegovernment in this respect.

(4) The provision of this Para will remain effective only up to the timeof completion of on going agreements.

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Bangladesh Imports: Commodities

Here are the major import commodities of Bangladesh.

Edible oil

Machinery and equipment

Chemicals

Iron and steel

Textiles

Crude petroleum

Petroleum products

Cement

Pharmaceutical products

Fertilizers

Dyeing & Tanning materials

Plastic & Rubber

Cotton

Yarn

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od

MERCHANDISE IMPORTS

Food grains Commodities ( others than foo

Rice Wheat Total

Milk &

DairyProducts

Spices Oilseeds Edibleoil

12 1314=(12+

13)15 16 17 18

02 87 983 1070 339 72 412 1439 505

03 1220 1145 2365 353 185 369 2110 840

04 842 1690 2532 359 177 434 2773 707

05 1627 1915 3542 532 254 526 2698 974

06 787 2012 2799 489 212 607 3174 1094

07 1234 2774 4008 572 525 736 4022 1356

08 5993 3681 9674 943 550 932 6905 2242

09 1642 4431 6073 663 428 1094 5953 1609

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Pie Charts:

o

MERCHANDISE IMPORTS

Commodities ( other than food grains )

Sugar

Clinker

Crud

ePetrol-

ileum

Petro

l-ileumProducts

Chemi-cals

Pharma-

ceuticalProducts

Ferti

-lizer

s

Dyeing &

Tanning

Materials

Plastic

and

Rubberarti-clesthereof

Cotton

Yarn

Textile

andarticles

thereof

Stap

leFibres

Iron

&Stee

l

Capi

talMachinery

Others

(Includin

gEPZ)

Total

(15thro-ugh35)

Tota

lImports

20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 3637=14+3

6)

1 135 862 1391

2764

1923

224 615 503 1435

1794

1622

6102

226 2372

3184

20060

47979

49049

2 601 834 1545

3588

2042

258 630 500 1627

2274

1561

6406

239 2634

3172

21785

53553

55918

3 647 821 1484

4536

2394

267 882 644 2161

3436

1900

7627

339 2826

4298

23013

61725

64257

4 1355

1050

2157

7735

3141

253 2035

814 2934

4096

2414

9646

461 4193

6876

23209

77353

80895

5 837 1413

4080

9437

3897

336 2262

997 3516

4987

3367

11598

507 6590

10365

26566

96331

99130

6 2034

1656

3607

11807

4616

338 2370

1113

4440

5926

4023

13064

671 6805

13332

31410

114470

118478

7 2718

2380

4767

14116

6103

426 4330

1492

5542

8317

4739

12984

756 8091

11440

38926

138696

148370

8 2844

2158

4012

13728

6606

548 6558

1779

5779

8879

5448

14443

773 10336

9763

45347

148748

154821

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2003-04 (TK in core)

2773

4536

2394

2394

7627

2826

4298

32158

Edible Oil

Petroleumproducts

Chemicals

Cotton

Textile

Iron & steel

Capital Machinery

Others

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2004-05 (TK in core)

2698 7735

3141

4096

9646

4193

6876

42510

Edible Oil

Petroleum

products

Chemicals

Cotton

Textile

Iron & steel

Capital Machinery

Others

2005-06 (TK in cor

3174 9437

3897

4987

11598

6590

10365

50079

Edible Oil

Petroleum

products

Chemicals

Cotton

Textile

Iron & steel

Capital Machine

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2006-07 (TK in c

40 2 1180

46 1

59 2

1306

68 0

1333

5885

Edible Oil

Petroleum

products

Chemicals

Cotton

Textile

Iron & steel

2007-08 (TK in co

6905 1411

6103

8317

12984

8091

11440

80417

Edible Oil

Petroleum

products

Chemicals

Cotton

Textile

Iron & steel

Capital Machine

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2008-09 (TK in c

595 1372

66 0

887

1444

1033

9 76

8401

E dible O i l

Pe t ro l eum

produc t s

Chem ica ls

C o t t on

Tex t i l e

I ron & steel

Cap i ta l M ach in

If we analysis our Import trend from 2001-09,then we will find that our import trend

increase year by year. In 2001 Bangladesh import Edible oil by Tk 1439 core and in 2009

it is Tk. 5953. In 2001 we import capital machinery only Tk. 3184 core but in 2009 it wasTk. 9763 core. In other side we import textile material by Tk. 6102 core in 2001 and in

2009 it is 14443 cores. In 2009 we import petroleum product by Tk. 13728 core and if we

see to the 2001 chart, it was only Tk. 2764 core. In other sector where we import morethese include rice, wheat, milk and dairy products, oil seeds, spices, sugar, fertilizers,

plastic and rubber , yarn and etc. in these sector we expend Tk. 29471 core in 2001 and in

2009 it was Tk. 84019 core.

So above these we can say that our import trend in every sector increase very highly.

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Bangladesh TRADE: Growth

The Government of Bangladesh undertook significant steps during the

1980s.Consequently there was a tremendous increase in the export of ready-made-garments and knitwear, which garnered maximum foreign exchange for the country.

Cheap labor and low conversion costs are the major factors behind the growth of

Bangladeshs garments industry. Over 3 million Bangladeshis (90%women) areemployed in this industry. Bangladesh shares excellent trade relations with the US,

showing noteworthy trade surplus with the latter. The country is an active partner of the

Asia pacific trade agreement and the world trade organization. A number of exportprocessing zones have been set up by the government to enhance economic growth by

attracting foreign investment.

Changes in Import over the year of 2001-02 to 2008-09

Year Import (Billion

US $ )

2001-02 8.54

2002-03 9.66

2003-04 10.90

2004-05 13.15

2005-06 14.75

2006-07 17.16

2007-08 20.37

2008-09 21.44

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5

10

15

20

25

200

200

200

200

200

200

200

200

Conclusion

After discussion about the import trend in Bangladesh, we can say that Governmentshould go on easy the regulation on import business. Government also should expand

the import business by importing more different several of products. By thisGovernment can reduce the unemployment of Bangladesh.

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References

http://www.reportbd.com/articles/31/1/Bangladesh--Export- and-Import-

Overview/Page1.html

http://www.workmall.com/wfb2001/bangladesh/bangladesh_economy.html

http://en.wikipedia.org/wiki/Economy_of_Bangladesh

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http://www.reportbd.com/articles/31/1/Bangladesh--Export-%20%20%20%20and-Import-Overview/Page1.htmlhttp://www.reportbd.com/articles/31/1/Bangladesh--Export-%20%20%20%20and-Import-Overview/Page1.htmlhttp://www.workmall.com/wfb2001/bangladesh/bangladesh_economy.htmlhttp://en.wikipedia.org/wiki/Economy_of_Bangladeshhttp://www.reportbd.com/articles/31/1/Bangladesh--Export-%20%20%20%20and-Import-Overview/Page1.htmlhttp://www.reportbd.com/articles/31/1/Bangladesh--Export-%20%20%20%20and-Import-Overview/Page1.htmlhttp://www.workmall.com/wfb2001/bangladesh/bangladesh_economy.htmlhttp://en.wikipedia.org/wiki/Economy_of_Bangladesh

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