We are hiring a news reporter... Click Here

BB unveils export incentives ahead of LDC graduation

Bangladesh Bank (BB) has announced incentives
across all export items for aligning with its impending graduation from the
Least Developed Country (LDC) status in 2026.

Bangladesh Bank (BB) today issued a circular in this regard.

The circular will be effective from 1 January 2024 and will be valid till 30
June 2024.

For example, the special incentive for the readymade garments sector has been
scaled down from 1 percent to 0.5 percent.

Also, incentives for venturing into new markets have witnessed a 1-percentage
point reduction to 3 percent. This reduction extends to various sectors
including jute and jute goods, leather and leather products, frozen fish,
agro products, and more.

Before the circular came into effect, the highest incentive rate was for agro
products, potatoes, and processed meats at 20 percent, which has now been
reduced to 15 percent.