New Digital Trade Policy Set to Boost Import-Export Without Letter of Credit (LC)

The Commerce Ministry has released Bangladesh’s first cross-border digital trade policy, designed to streamline import and export transactions through digital platforms. The draft, currently open for public comment on the ministry's website, aims to make international trade smoother and safer by reducing the need for a traditional Letter of Credit (LC). If implemented, the policy would allow individuals and organizations within Bangladesh to conduct wholesale and retail trade with global companies, such as Amazon, Alibaba, and Best Buy, without opening an LC. This move is expected to expand the scope for digital imports and exports, transforming Bangladesh’s position in global digital commerce.