24 July 2019
BANGLADESH: Import/Export Licence Approval and Renewal System Now Online
Exporters and importers can now apply for and renew the required permits online. This follows the launch of the Online Licencing Module (OLM) by the Ministry of Commerce, a system designed to fast-track the approval process and streamline overall export-import procedures. Accessible via the Office of The Chief Controller of Imports & Exports website, the facility allows traders to submit applications for the issuance/renewal of both Export Registration Certificates (ERC) and Import Registration Certificates (IRC).
The move is said to be in line with the country’s WTO commitment to digitalise its business processes and cut costs for companies. It is also hoped that it will reduce paperwork and processing times, while also curbing corruption by ensuring traders do not have to make informal payments to secure permits.