Bangladesh emerged as an independent country in 1971. She entered into International Trade actively since 1972. In the early years of independence the gap between Import and Export was very wide. This gap started to decrease from 1980s when Bangladesh adopted liberal trade policy consistent with the emerging trend of the market economy. Extensive reform programs have been implemented in trade regimes during the last two decades. The prime objective of the trade policy of Bangladesh is to strengthen the economy. For achieving this objective Bangladesh has adopted export-based development strategy. As export sector is the main sources of hard-earned foreign currency of Bangladesh, Government has taken all the initiatives for overall development of the sector.
Export Policy: For export promotion and development Bangladesh has been pursuing periodic Export Policy from 1980. In the first half of 80s she pursued one- year export policies in the first half of 80s and two-year policies in the last half of the same decades. Since then five- year export policies were formulated and implemented. After the expiry of the tenure of five-year policy government announced three –year Export Policy. Ongoing Export Policy is for the period 2003-2009. These policies are consistent with the agreement under Uruguay Round Accord, WTO and the principles of market economy. These are also maintaining favorable balance between exports and imports of the country.
Export Control: Rules, Regulation, and Controlling Authority: In Bangladesh all trading activities are regulated by the Ministry of Commerce of the Government of Bangladesh under The Imports and Exports (Control), Act 1950. The Export Policy under the aforementioned Act is issued every three years by the Ministry of Commerce on behalf of the government. However, the Ministry can impose a ban or attach conditions, in the public