Amazon Wants Bonded Warehouse In BD: Commerce State Minister
(MENAFN- Bangladesh Monitor) Dhaka : American e-commerce giant Amazon wants central bonded warehouse facilities in Bangladesh to enjoy tax benefits, said State Minister for Commerce Ahasanul Islam Titu on May 28.
Amazon has been sourcing clothing from Bangladesh for long and wants to use the country as a transshipment hub, bringing in goods through its global supply chain before sending those to destination countries, he added.
This is to avail the benefits of different tax rates in different countries and reduce the tax burden, said the state minister to the media at a press conference in the commerce Ministry in the capital.
The press conference was over a meeting Titu held earlier in the day with a visiting delegation of US-Bangladesh Business Council which included representatives from Meta, Chevron, The Coca-Cola Company and Boeing.
Titu said the government would amend the e-commerce policy so that local e-commerce companies could send goods to customers abroad and engage in international financial transactions.
At present, Bangladeshi e-commerce companies can only conduct business in the domestic market as the policy does not allow transactions on international markets.
Organisations such as the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) have been demanding that the government facilitate the formation of an e-commerce company like Amazon which can distribute goods on the international market and conduct international financial transactions.
The government will formulate a policy in this regard, Titu informed.
Titu further said the government has already adopted a national logistics policy to facilitate the e-commerce business by establishing the infrastructure required and formulating necessary strategies.
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