Bhutanese boulder stone gets duty-free market access to Bangladesh

The National Board of Revenue of Bangladesh provided Bhutan with duty-free market access for boulder stone export to Bangladesh.

The NBR on June 24 withdrew applicable duties on import of the product by the local importers from the Himalayan Kingdom.

Bhutan for several times in last two years expressed keen interest to supply the product for the construction of the Padma Multipurpose Bridge and for that seeking duty-free market access for the product.

Before June 24, the total applicable duty on import of boulders was 54 per cent including 25 per cent customs duty, 15 per cent value-added tax, 4 per cent advance trade VAT and 4 per cent regulatory duty.

The duty-free market access for the product has been given withdrawing the same facility for import of timber and wood from the country under a bilateral arrangement.

Currently, Bhutan enjoys duty-free market access to Bangladesh for its 18 products under the bilateral arrangement while Bangladesh enjoys such facility for 90 products in export to the country.

Now import duty on timber and wood at the regular rates ranging from 10 per cent to 31.07 per cent will be applicable for the products as the revenue board excluded the names of the products from the list of 18 products through the SRO.

Earlier, Bhutan supplied boulders for the construction of the Bangabandhu Bridge over the River Jamuna.

Trade between the two countries is usually done through Burimari land port situated in Bangladesh, the nearest land port from Bhutan-India border, which is just over 70 kilometres from Burimari border.