Domestic entrepreneurs can sell products on Amazon, eBay

Domestic entrepreneurs can now also sell their products online to foreign buyers in retail.

Bangladesh Bank issued a circular, allowing small-scale exports, where the maximum limit per transaction has been set at $5,000 on Monday.

The obligation of an EXP certificate has been lifted for exporting products worth $1,000.

As a result, domestic entrepreneurs can list products on global online marketplaces like Amazon, Ali Express, eBay, Temu, Flipkart. They can sell their products directly to foreign buyers through these platforms from home.

These export processes will have to be completed through the authorized dealer (AD) of a commercial bank. The AD branch will verify whether there is a necessary agreement with the international online platform for exporting products.

Entrepreneurs can also pay the subscription fee of the online marketplace every year to do business in this way.

The circular states that the transaction will be completed through the exporter's foreign exchange account (ERQ). If at any time the buyer needs to refund the price and there is a foreign exchange deficit in the ERQ, the AD branch will adjust it from the local currency account.