Bangladesh’s National Board of Revenue (NBR) has clarified that importers who opened or amended letters of credit (LCs) for yarn on or before April 13, 2025, are permitted to bring in cotton through land ports.
This decision follows the recent suspension of yarn imports through major land ports, including Benapole, Bhomra, Sonamasjid, Banglabandha, and Burimari, effective April 13.
The NBR’s clarification aims to address confusion arising from the suspension and ensures that importers with existing LCs can continue their operations without disruption.
The move is also intended to support local yarn producers and curb under-invoicing of imported yarn.
The Bangladesh Textile Mills Association (BTMA) had previously requested the government to stop yarn imports from India through land ports, citing concerns over smuggling and the impact on domestic yarn production.
However, the NBR’s recent decision allows for cotton imports through land ports for those with open yarn LCs, balancing the interests of importers and local producers.
Importers are advised to ensure compliance with all regulatory requirements and maintain proper documentation to facilitate smooth customs clearance processes.
