FEPD Circular No. 07: Import of raw materials for manufacturing Active Pharmaceutical Ingredients (API) and Laboratory Reagents on usance basis

Foreign Exchange Policy Department Bangladesh Bank Head Office Dhaka www.bb.org.bd FE Circular No. 07 Date: 17/01/2019 All Authorized Dealers of Foreign Exchange in Bangladesh Dear Sirs, Import of raw materials for manufacturing Active Pharmaceutical Ingredients (API) and Laboratory Reagents on usance basis. Bangladesh Government has issued ‘National Active Pharmaceutical Ingredients (API) and Laboratory Reagents Production and Export Policy’ vide notice no. 26.00.0000.100.42.008.17-54; dated 14th May, 2018. To facilitate import transactions in accordance with this policy, it has now been decided that Authorized Dealers (ADs) may allow only API and Laboratory Reagents producing industries to import raw materials for manufacturing API and Laboratory Reagents on supplier’s/buyer’s credit terms for a usance period up to 360 days, subject to observance of the following instructions: (a) ADs shall comply with Import Policy Order in force and Foreign Exchange Regulations regarding import transactions including paragraph 33, chapter 7 of the Guidelines for Foreign Exchange Transactions(GFET)-2018, Vol-1; and (b) ADs shall be satisfied to the effect that the imports of inputs have duly been approved by Directorate General of Drug Administration (DGDA) as raw materials for API and Laboratory Reagents in favor of the concerned industry. Please bring the contents of this circular to the notice of all your concerned clientele. Yours faithfully, (Mohammad Khurshid Wahab) General Manager Phone: 9530123