The Bangladesh Trade Portal (BTP) is an official source of all regulatory information relevant to traders who wish to import goods into Bangladesh or export to other countries. The Ministry of Commerce of the Bangladesh Government has established the Portal in order to improve the predictability and transparency of the country’s trading laws and processes.

FEPD Circular Letter No. 36: Price verification of import transactions.

Type: Circular
Issuing Agency: Bangladesh Bank
Responsible Agency: Bangladesh Bank
Issuing Date: 10-10-2022

Refer to paragraph 20, chapter 7 of the Guidelines for Foreign Exchange Transactions-2018 (GFET) and subsequent circulars in terms of which Authorized Dealers (ADs) are, before initiating import transactions, required to verify prices of relative goods in terms of prevailing price in the international markets on the date of contracts and/or similar imports in contemporary period.

Given the prevailing global commodity market trends, ADs are advised to adhere to regulatory parameters for verification of import prices and price competitiveness. As usual, ADs shall comply with extended due diligence in import transactions and relevant regulations without limiting to provisions of Import Policy Order in force, credit reports of suppliers, KYC and AML/CFT standards, and so on.

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