Introduce ATA Carnet: FBCCI
The Financial Express , May 26, 2017
The government should introduce the ATA Carnet system in Bangladesh as soon as possible, the country’s apex trade body says.
Moreover, the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) should be appointed as the National Guaranteeing Association (NGA) for ATA Carnet, it adds in its formal proposal for the national budget for the next fiscal year (FY18).
ATA Carnet is an international uniform customs document that permits duty-free temporary entry of goods into a member country without the need to raise customs bond, payment of duty and fulfilment of other customs formalities in one or a number of foreign countries.
The countries that sign and ratify the Customs Convention on ATA Carnet are considered as members of the system.
According to the FBCCI: “ATA Carnet will prompt our export interests as well as facilitating monitoring temporary imports which, take place in the business process including trade in transit.”
The FBCCI stressed on ratification of World Customs Union (WCO) ATA Carnet convention as well as Istanbul convention 1990.
The apex trade also urged the government to appoint itself as the NGA, which has to be approved by the National Revenue Board (NBR).
The FBCCI is the only licensed organisation with its 357 affiliated associations and 74 chambers representing the entire Bangladesh business system.
Moreover, being a founder member of the International Chamber of Commerce Bangladesh (ICCB), it is the only legal trade body to be appointed as ATA Carnet NGA.
In India, the Federation of Indian Chamber of Commerce and Industry (FICCI) is the sole national issuing and guaranteeing association for ATA Carnet.
The system is jointly administered by the WCO and ICC globally.