Asian Development Bank - Regulatory Impact Analysis Report on the Current Customs Regulatory Framework in Bangladesh

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REGULATORY IMPACT ANALYSIS REPORT ON THE CURRENT CUSTOMS REGULATORY FRAMEWORK IN BANGLADESH

28 April 2014

Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)

2016 Asian Development Bank
6 ADB Avenue, Mandaluyong City, 1550 Metro Manila, Philippines
Tel +63 2 632 4444; Fax +63 2 636 2444
www.adb.org; openaccess.adb.org

Some rights reserved. Published in 2015.
Printed in the Philippines.

ISBN 978-92-9257-248-8 (Print), 978-92-9257-249-5 (e-ISBN)
Publication Stock No. RPT157772-2

Cataloging-In-Publication Data

Asian Development Bank.

Regulatory Impact Analysis Report on the Current Customs Regulatory Framework in Bangladesh Mandaluyong City, Philippines: Asian Development Bank, 2015.

1. Bangladesh. 2. Customs. 3. Regulatory Impact Analysis. I. Asian Development Bank.

The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent.

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Contents

Foreword
Abbreviations
Executive Summary
I.	Introduction
II.	Problem Definition
III.	Objective of Government Intervention
IV.	Options
A.	Maintain Status Quo
B.	Review the Current Customs Act
V.	Impacts of Options
A.	Economic and Financial
B.	Governance
C.	Poverty and Society
VI.	Conclusion
VII.	Implementation and Monitoring
VIII.	Report on Consultation Process
References
Annexes
	Proposed Key Amendments of Customs Act, 1969
	List of Participants in the External Stakeholder Meeting

Foreword

The development of Bangladesh during the past two and a half decades has witnessed significant structural changes in the economy resulting in domestic policy reforms and greater openness to the global economic environment. Economic growth increased significantly from 3.7% in the 1980s to an average of over 5.6% from 1994 until 2013, reaching an all-time high of 6.7% in 2011. Increasing integration with the world economy has been made possible by the introduction of various trade liberalization policies since the 1980s, and accelerated by its accession to several international treaties including to the World Trade Organization (WTO) in 1995, and the Revised Kyoto Convention (RKC) of the World Customs Organization (WCO) in 2012. The countrys trade to GDP ratio increased from 17% in the early 1990s to 47% in 2008 reaching 54% in 2010-2012 as a result of Bangladeshs increasing trade openness.

One of the most significant reforms undertaken by the Bangladesh Government is the Customs Act of 1969, one of three principal legislative acts in the area of foreign trade. The two others are the Imports and Exports (Control) Act of 1950; and The Foreign Exchange (Regulation) Act of 1947. It was not until the 1980s, however, when the countrys trade regime registered a major shift as trade liberalization was introduced, gradually transforming into a large scale liberalization effort in the 1990s. Since then, successive liberalization programs have followed leading to a remarkable decline in quantitative restrictions, opening up of trade in many restricted items, significant rationalization and diminution of import tariffs and complete liberalization of the foreign exchange regime. Bangladesh amended its Customs Act, allowing provisions on antidumping and countervailing rules in 1995 and safeguard rules in 1997. The Act has also been amended to introduce transaction values as the basis for customs valuation in 2000.

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