Bangladesh, the letter of credit policy has the latest adjustment!

According to Bangladesh’s “Daily Sun” report on February 8, the Bangladesh Congress approved in principle the new “Import Policy Regulations (2021-24)”. The regulation stipulates that Bangladeshi retailers importing goods not exceeding US$500,000 will be exempted from issuing letters of credit and will be settled by contract and wire transfer. The development of Bangladesh’s import trade will be more in line with the needs of the times and more competitive.

The Ministry of Commerce of my country also confirmed the news:

http://bd.mofcom.gov.cn/article/jmxw/202202/20220203278623.shtml