The Bangladesh Investment Development Authority (BIDA) on Sunday (February 23, 2025) granted Authorized Economic Operator (AEO) status to 10 businesses. Authorized Economic Operator is like an airport’s ‘green channel’. With this license, it is possible to clear port goods without going through customs checks in many cases. This significantly reduces the lead time for production or export and reduces the pressure on the port.
Bangladesh Investment Development Authority Chairman Ashiq Chowdhury said that this license will encourage good practices of companies instead of creating any new barriers to business. Only those with a strong track record in consumer rights, tax compliance, governance, etc. will get this license.
The concept of Authorized Economic Operator is quite common in the developed world. Although the Bangladesh government introduced this concept on paper in 2013, businesses have never been able to use this facility in practice. “BIDA’s responsibility is to bring ease of doing business in Bangladesh. The challenge for us in this case was to actually introduce ‘Ease of Doing Business’ within the government,” said Ashiq Chowdhury in a post on his Facebook page. On October 21, NBR and BIDA jointly decided to reintroduce this facility by March.
The companies that have been granted Authorized Economic Operator status are Unilever, Berger Paints Bangladesh Limited, GPH Ispat, BSRM, Square Pharmaceuticals PLC, Popular Pharmaceuticals Limited, Incepta Pharmaceuticals Limited, Fair Electronics, ACI Godrej Agrovet Private Limited Feed Division, Towa Personal Protective Device Bangladesh Limited.
