Amazon wants a bonded warehouse in BD: Minister of State for Trade

(MENAFN – Bangladesh Monitor) Dhaka: US e-commerce giant Amazon wants central bonded warehouses in Bangladesh to benefit from tax breaks, said Minister of State for Commerce Ahasanul Islam Titu on May 28.

Amazon has long been sourcing clothing from Bangladesh and wants to use the country as a transshipment hub, moving goods through the global supply chain before sending them to destination countries, he added.

This is intended to take advantage of the benefits of different tax rates in different countries and reduce the tax burden, the Minister of State told the media at a press conference at the Ministry of Commerce in the capital.

The press conference concluded with a meeting Titu had held earlier in the day with a visiting U.S.-Bangladesh Business Council delegation that included representatives from Meta, Chevron, The Coca-Cola Company and Boeing.

Titu said the government would change e-commerce policy to allow local e-commerce companies to ship goods to customers abroad and engage in international financial transactions.

Currently, Bangladeshi e-commerce companies can only operate in the domestic market as the policy does not allow transactions in international markets.

Organizations such as the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) are demanding that the government facilitate the creation of an e-commerce company like Amazon that can distribute goods in the international market and conduct international financial transactions.

The government will frame a policy in this regard, Titu said.

Titu further said that the government has already adopted a national logistics policy aimed at facilitating e-commerce business by creating the required infrastructure and formulating necessary strategies.

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