Teknaf land-port earns revenue over Tk 450. 45 million with Burma
Posted On July 9, 2015
Teknaf, Bangladesh: Teknaf land-port of Bangladesh earned revenue over 450.45 million Taka to and from Burma over the 2013-2015 Fiscal year, according to Teknaf custom official.
In the 2014-2015 Fiscal year, Bangladesh exported goods worth Taka over 330. 21 million to Burma and imported items and commodities valued about Taka 2,790. 39 million, the custom officials said yesterday.
The National Revenue Board (NRB) asked customs to earn revenue about Tk 480.86 million, but they are able to earn over Tk 450.46 million.
However, the Teknaf land-port earned revenue about Tk 600.40 million including other corridors in the 2014-2015 Fiscal year, said another custom officer from Teknaf.
The trade was largely in favor of Burma, as Bangladesh imported large volumes of goods against exports to Burma.
In the first two months of the current fiscal year 2014-15, Bangladesh exported goods to Burma worth over Tk 40.63 million and imported goods worth Tk 430.02 million with a trade deficit worth of Tk 389.39 million, according to official.
At present, though the balance of trade between the two countries is heavily in favor of Burma as Bangladesh imports many items from the neighboring country, the trade gap is expected to be narrowed down as Burma has started to import some new materials from Bangladesh.
Smuggling is the main reason behind this trade deficit. Though a huge quantity of smuggled goods is seized annually, smuggling is not reducing along the border with Burma, said a local trader from Teknaf on condition of anonymity.
Most Bangladesh goods are smuggled to Burma by an organized gang of smugglers, who also smuggle in drugs and other harmful items.
Bangladesh imports timbers, fresh fishes, dried fish, bamboos, cotton, canes, cattle, goats, pickles, scraps, tobacco, dried chili, turmeric, batteries, leather, areca nuts, slippers, umbrellas, cattle and spices from Burma, said a businessman from Teknaf.
Bangladesh exports—cement, industrial tubing, aluminum utensils, flour, medicine, ready-made garments, vests, fair and lovely cosmetics, plastic items, tube well, dried fish, colored paper, polyethylene, hair oil, saving cream, pepper, melamine products, soap, tooth powder, biscuits, jute bags, soft drinks, wall clock, jewelry items, kitchen ware, iron grill, tiles, ceramic items, steel pipe and even human hair, to that country, said Khasim, a businessman from Teknaf.
General Secretary of C&F agent association said the land-port may help increase national incomes through increased trade and stop cross-border smuggling.
The land-port began its operation in 1995.