Written by The Banking Post
The draft of a new Import Policy Order (IPO) for 2025–2028 is ready and awaiting cabinet approval, with the government planning major changes to modernise and liberalise the country’s import regime.
Commerce Adviser Sk Bashir Uddin said on Sunday that the proposed policy would introduce significant revisions to the existing IPO for 2021–2024. “We are trying to bring major changes to the import policy order. Once these are finalised through the cabinet, the details will be disclosed,” he said.
He said consultations have already been held with Bangladesh Bank and other stakeholders, and the draft will be placed before the cabinet soon. If it does not come up at the next meeting, it will be submitted at the following one.
Commerce Secretary Mahbubur Rahman said the objective of the new policy is to facilitate trade, noting that Bangladesh is also committed to implementing the World Trade Organization’s Trade Facilitation Agreement.
Alongside the policy update, the commerce adviser said a high-level meeting will be held on January 19 to review prices, supply and stock levels of essential commodities ahead of Ramadan. The move is aimed at ensuring market stability and adequate supplies during the peak demand period.
All relevant stakeholders will join the meeting to assess prevailing market conditions and devise appropriate measures, he said. “After the review, we will be in a better position to assess the overall condition of the market.”
Responding to questions on trade relations with India amid recent issues, the adviser said no adverse impact has been observed so far. “At this moment, we do not see any indication that trade will be affected,” he said, adding that there is no pressure on trade from the situation.
