With a view to make imports and exports easier for businesses, Bangladesh Government has extended the tenures of the import registration certificate (IRC) and the export registration certificate (ERC) from the current one to five years.
This is as per media reports, which added this move by the Government has been welcomed by the businesses.
“This will bring benefit to businesses and bring speed to businesses,” reportedly claimed the President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Faruque Hassan while adding the extension of the tenure of the IRC and the ERC would definitely reduce the cost of doing business and shorten the time needed even as Rizwan Rahman, the President of the Dhaka Chamber of Commerce and Industry (DCCI), on his part reportedly said, “The new initiative will definitely benefit businesses as they will not have to spend more time and face hassles in receiving signatures from Government offices at the end of every year.”