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RESTRICTED WT/TPR/S/385 6 February 2019

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RESTRICTED WT/TPR/S/385 6 February 2019 RESTRICTED WT/TPR/S/385 6 February 2019 (19-0660) Page: 1/140 Trade Policy Review Body TRADE POLICY REVIEW REPORT BY THE SECRETARIAT BANGLADESH This report, prepared for the fifth Trade Policy Review of Bangladesh, has been drawn up by the WTO Secretariat on its own responsibility. The Secretariat has, as required by the Agreement establishing the Trade Policy Review Mechanism (Annex 3 of the Marrakesh Agreement Establishing the World Trade Organization), sought clarification from Bangladesh on its trade policies and practices. Any technical questions arising from this report may be addressed to Sergios Stamnas (tel: 022 739 5382), Usman Ali Khilji (tel: 022 739 6936), Taufiqur Rahman (tel: 022 739 6439), and Fatima Chaudhri (tel: 022 739 6384). Document WT/TPR/G/385 contains the policy statement submitted by Bangladesh. Note: This report is subject to restricted circulation and press embargo until the end of the first session of the meeting of the Trade Policy Review Body on Bangladesh. This report was drafted in English. WT/TPR/S/385 • Bangladesh - 2 - CONTENTS SUMMARY ....................................................................................................................... 8 1 ECONOMIC ENVIRONMENT ....................................................................................... 13 1.1 Main Features of the Economy ................................................................................... 13 1.2 Recent Economic Developments ................................................................................. 16 1.2.1 Growth and income ................................................................................................ 16 1.2.2 Prices ................................................................................................................... 16 1.2.3 Main macroeconomic policy developments ................................................................ 16 1.2.3.1 Monetary and exchange rate policy ....................................................................... 16 1.2.3.2 Fiscal policy ........................................................................................................ 17 1.2.4 Structural reforms ................................................................................................. 17 1.2.4.1 Tax reforms ....................................................................................................... 18 1.2.4.2 Privatization ....................................................................................................... 18 1.2.4.3 Competition policy .............................................................................................. 18 1.2.4.4 Labour market reforms ........................................................................................ 18 1.2.5 Balance of payments .............................................................................................. 19 1.3 Developments in Trade and Investment ...................................................................... 21 1.3.1 Trends and patterns in merchandise and services trade .............................................. 21 1.3.2 Trends and patterns in FDI ..................................................................................... 24 2 TRADE AND INVESTMENT REGIMES.......................................................................... 25 2.1 General Framework .................................................................................................. 25 2.2 Trade Policy Formulation and Objectives ...................................................................... 26 2.2.1 Executive branches of Government .......................................................................... 26 2.2.2 Advisory bodies ..................................................................................................... 26 2.2.3 Policy objectives .................................................................................................... 26 2.2.4 Trade laws and regulations ..................................................................................... 27 2.2.5 Transparency ........................................................................................................ 28 2.3 Trade Agreements and Arrangements ......................................................................... 29 2.3.1 WTO .................................................................................................................... 29 2.3.1.1 Features ............................................................................................................ 29 2.3.1.2 Trade-related technical assistance ......................................................................... 29 2.3.1.3 LDC graduation ................................................................................................... 30 2.3.2 Regional and preferential agreements ...................................................................... 30 2.3.2.1 APTA ................................................................................................................. 31 2.3.2.2 SAPTA and SAFTA ............................................................................................... 32 2.3.2.3 BIMSTEC ............................................................................................................ 33 2.3.2.4 Developing-8 (D-8) ............................................................................................. 33 2.3.2.5 Trade Preferential System – Organisation of Islamic Cooperation (TPS-OIC) ............... 34 2.3.2.6 Other preferences and arrangements .................................................................... 34 2.3.3 Other agreements .................................................................................................. 35 WT/TPR/S/385 • Bangladesh - 3 - 2.4 Investment Regime .................................................................................................. 35 2.4.1 Policy and institutional framework ............................................................................ 36 2.4.2 Main regulatory framework ..................................................................................... 37 2.4.3 Restricted activities ................................................................................................ 37 2.4.4 Registration and approval ....................................................................................... 37 2.4.5 Investment promotion ............................................................................................ 38 2.4.6 Dispute settlement ................................................................................................. 38 2.4.7 Bilateral treaties developments and international cooperation ..................................... 39 3 TRADE POLICIES AND PRACTICES BY MEASURE ....................................................... 40 3.1 Measures Directly Affecting Imports ............................................................................ 40 3.1.1 Customs procedures, valuation, and requirements ..................................................... 40 3.1.1.1 Customs procedures and requirements .................................................................. 40 3.1.1.2 Customs valuation .............................................................................................. 43 3.1.1.3 Pre-shipment inspection ...................................................................................... 44 3.1.2 Rules of origin ....................................................................................................... 44 3.1.3 Tariffs .................................................................................................................. 44 3.1.3.1 General features ................................................................................................. 44 3.1.3.2 Applied MFN tariffs .............................................................................................. 45 3.1.3.3 MFN tariff dispersion and escalation ...................................................................... 47 3.1.3.4 MFN tariff bindings .............................................................................................. 47 3.1.3.5 Tariff preferences ................................................................................................ 48 3.1.3.6 Duty concessions/exemptions ............................................................................... 48 3.1.4 Other charges affecting imports ............................................................................... 48 3.1.5 Import prohibitions, restrictions, and licensing .......................................................... 48 3.1.5.1 Prohibitions ........................................................................................................ 48 3.1.5.2 Import approval and restrictions ........................................................................... 49 3.1.6 Anti-dumping, countervailing, and safeguard measures .............................................. 49 3.2 Measures Directly Affecting Exports ............................................................................ 50 3.2.1 Customs procedures and requirements ..................................................................... 50 3.2.2 Taxes, charges, and levies ...................................................................................... 50 3.2.3 Export prohibitions, restrictions, and licensing ..........................................................
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