National Board of Revenue will soon introduce green channels at ports on pilot basis to release export-import goods without major supervision.
Under the system, only the authorised economic operators (AEO) will release the goods, reducing both time and cost of the traders, said NBR officials.
The revenue authority already formed a committee and drafted an action plan to implement the system at sea, air and land ports.
Officials will be imparted training soon to start the project, said sources concerned.
The training will be conducted in home and abroad with support from World Customs Organisation and Asian Development Bank.
In the pilot operation, the NBR will select some business houses as AEOs who will comply with the supply chain security standards of the World Customs Organisation.
If the pilot project is successful, the AEO system will be made fully operational from next year.
The Authorised Economic Operator programme is a globally used method in international trade to ensure supply chain security for a seamless movement of goods.
In March 2011, NBR took a five-year comprehensive modernisation plan to achieve intended goals. The plans include, among others, upgrading of customs and launching AEO system.
ADB will support the AEO system under its “Supporting Participation in the South Asia Sub-regional Economic Cooperation Trade Facilitation Program.”
“AEO system will help traders reduce their time and cost in clearance of goods at the ports. It will also help customs have adequate information to ensure safety of the country,” said an official.
Under the system, the trading companies will enjoy submission of bill of entry and payment of duties through automated system.
“Although the AEO programme has been operational in many countries, it is a new concept in Bangladesh,” said Finance Minister AMA Muhith in a comment on the system earlier.
He said the system was playing a role of trade facilitator in those countries who adopted it.
Finance minister stressed the need to run system with adequate efficiency as many were ignorant of the laws regarding payment of duty.
Source: Dhaka Tribune
