New 3-year import-export policy approved

The Cabinet Economic Affairs Committee Sunday endorsed the country''s new export-import policy for next three years (2009-2012) creating room for conditional import of some new products, including eggs of hens, ducks and birds, reports UNB. However, the new policy will need the full-fledged Cabinet''s final approval before it comes into effect. As per administrative procedure, Cabinet Economic Affairs Committee''s nod is a prerequisite for an export-import policy before its placing for final Cabinet approval. Finance Minister AMA Muhith presided over the meeting. The new export-import policy was approved under two separate folds with the titles "Export Policy 2009-2012" and "Import Policy Order 2009-2012". Additional Secretary of the Cabinet Division TariqulMax Tn Islam briefed reporters about the outcome of the meeting. He sad the cabinet body made some amendments to the draft policy prepared and placed by the Commerce Ministry with the meeting. WTO compliances came into consideration during the amendments. The new import policy added some new products, with some conditions, to the country''s import basket while the export policy also incorporated the nascent shipbuilding industry into the list of thrust sectors. Oceangoing ships and vessels'' export has been added as the seventh item to the existing six-item list of thrust industries, which include agro-product and processing, light engineering, shoes and leather goods, pharmaceuticals, software and IT and home textiles. On the other hand, the import of some new items, which often came out to be essential commodities, has been relaxed through softening the conditions tying their import. In some cases, the import bar was completely withdrawn from some items on some conditions, while in other cases, some new conditions were imposed on the importMax Tn(Special Edition) of some other products. Under the new import policy, the import of maximum 3-year-old reconditioned cars has been allowed for taxicab services in compliance with the new national budget. Melamine-free certification has been made mandatory for the import of powdered milk and milk foods while import of tinned powdered milk allowed up to 2.5 kg. The import of eggs of hens, ducks and birds was allowed in the new import policy on some conditions while some conditions were imposed on the import of scrap vessels. The egg import has been permitted at a time when the country often faced artificial crisis of the essential food item, which is blamed on the domestic factory farmers. The import of capital machinery and raw materials without any L/C by RMG industries, import of reconditioned generator and generating sets on commercial basis, crude soybean and palm oil import by industries and import of telecommunications machinery for private-sector operators have been allowed in the new import policy. Some new sectors have been declared as special Women Air Max Ltddevelopment sectors in the new export policy which include crust and finished leather, frozen foods, fish processing, handicrafts, electric and electronic goods, live-flowers, jute and jute-goods, hill tracts handloom, unfinished diamond and imitation jewelry, ceramic, melamine and plastic goods. Women’s Max 90 shoes Women’s Max Ltd 2