Hossain Ahmed from Bangladesh's National Board of Revenue (NBR) stated that despite significant growth in formal trade between Bangladesh and India, informal trade between the two countries remains substantial, estimated at $11 billion.

This issue, discussed at an American Chamber of Commerce in Bangladesh (AmCham) event, highlights the serious revenue loss from untaxed goods, including textiles. In 2022-23, Bangladesh-India trade totaled $16 billion, with Bangladesh importing $14 billion, largely in textiles and related goods. However, the informal influx impacts revenue collection, limiting the government’s ability to tax these imports.

Ahmed cited informal textile imports as an area of concern, with products like sugar and textiles frequently crossing borders without customs checks. He noted the estimate arose from a recent World Customs Organization (WCO) meeting.

Additionally, the event underscored the need for stronger Intellectual Property Rights (IPR) laws to attract foreign investors, particularly in light of Bangladesh’s upcoming graduation from Least Developed Country status in 2026. Local and foreign investors stressed improved IPR implementation to ensure Bangladesh’s competitiveness in global markets.

Speakers included AmCham President Syed Ershad Ahmed and Foreign Investors Chamber of Commerce and Industry (FICCI) President Zaved Akhter.