Bangladesh loses $2b annually: BGMEA

The freight forwarder agents are taking illegal money from the exporters which causes a loss of approximately $2 billion in earnings annually, the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has alleged.

The trade body also claimed that the whole illegal system is hampering the ease of doing business as well.

In this regard, the apex body of the apparel sector wrote a letter to the Chittagong Port Authority (CPA) on January 16 blaming the agents who had laundered crores of taka annually by rules of the CPA.

Amid the situation, BGMEA has sought the port authority’s intervention to stop the extortion.

Commenting on the issue, BGMEA Vice President Shahidullah Azim told The Business Post, “As per our business policy and the government rules, buyers are bearing all sorts of expenses after receiving the goods following the C&F clearance.

But agents are taking up to Tk 6,000 per voucher, which is a punishable offence, the businessmen said, adding “They are taking crores of taka annually in the name of so-called terminal handling charges.”

Exporters have to use several transportation means to reach the exported goods to the mother vessels. According to the rules of conduct, the buyers bear the cost of the Multimodal Transport Operator (MTO). But the freight forwarders are charging extra, the BGMEA alleges.

The letter mentioned that previous, freight forward agents took Tk 200 per voucher illegally. But the agents are now charging Tk 6,000 per voucher, which is entirely unbearable, they said.

On the other hand, agents have not received destination charges from the importers, and that is why Bangladesh is losing foreign currency.