Bangladesh's export sector has officially opened its doors to major global online marketplaces for selling their products with simplified documentation and revenue collection.
In a significant move, Bangladesh Bank has granted permission for local exporters to sell goods directly overseas through platforms like Amazon and eBay, creating a vast new opportunity for the country's exporters.
The central bank's Foreign Exchange Policy Department issued a circular to this effect on Monday (November 24).
The central bank stated that this new policy initiative is designed to boost Bangladesh's participation in the global online marketplace. To make cross-border e-commerce more streamlined and effective, the bank has authorized exports under a Business-to-Business-to-Consumer (B2B2C) framework.
According to the circular, Authorized Dealer (AD) banks can now process export transactions where the foreign consignee acts not as the final buyer, but as an intermediary platform or marketplace. This means Bangladeshi goods can now be exported through major international platforms, including Amazon, eBay, Alibaba, Etsy, or any international subsidiary or third-party warehouse.
The new structure also simplifies the necessary documentation and revenue collection, such as:
Registration Proof: Exporters engaging in this activity must submit proof of their registration with the relevant global platform or warehouse to their AD bank.
Pricing: Since the B2B2C model typically lacks a conventional sales contract, the fair value of the exported goods can be declared based on a Proforma Invoice.
Shipping Documents: If the consignee is solely a service provider, the bank may also accept shipping documents prepared in their name.
The policy also eases rules for realizing export income. Funds earned from these exports are now acceptable not only through standard banking channels but also via international payment service operators. Recognizing that payments for multiple shipments may arrive collectively in platform-based exports, banks are advised to reconcile the export income using a 'First-In, First-Out' (FIFO) principle.
Sector Sees Growth Potential:
Industry experts believe the Bangladesh Bank's decision will significantly revitalize cross-border e-commerce.
"This policy will unlock new markets for small and medium-sized exporters and strengthen Bangladesh's position in the global online marketplace," said Mohammad Hatem, President of BKMEA.
The new framework is expected to play a crucial role in diversifying exports and increasing the volume of Bangladeshi products sold through international digital retail channels, he said.