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Amazon wants to source products from Bangladesh under

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Ibrahim Hossain Ovi  Published at 09:45 pm July 17th, 2019

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FILE PHOTO: A shipment moves on a conveyor belt at an Amazon Fulfillment

Centre (BLR7) on the outskirts of Bengaluru, India, September 18, 2018
REUTERS

Under the proposed mode of financial transaction, Bangladeshi exporters have to keep their goods at
Amazon warehouses in the USA

Amazon, an American e-commerce giant, yesterday formally wanted to source goods from Bangladesh for its global buyers
with flexible terms that will require amending a number of regulations on external trade including the foreign exchange
regulations.

In making the sourcing process easier as desired by Amazon, it called for liberalizing the country’s foreign exchange
regulations and customs policy so that local exporters can sell their products to global clients using the Amazon platform
through a unique mode of transaction.
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Gagan Deep Sagor, Category Manager,

International Expansion of Amazon,

made the request at
a meeting with the State

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Minister for Information and Communication Technology (ICT) at his office at the secretariat.
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Under the proposed mode of financial transaction, Bangladeshi exporters have to keep their goods at Amazon warehouses in 

the USA. After any

product
gmail
is sold out, Bangladeshi

googlebookmarks
exporters will get

hackernews
the prices from Amazon,

instapaper
after adjusting

line
commission.

However, there exists no such provision

in the current
foreign exchange regulations,

or customs
laws, says a senior

Bangladesh Bank
official.
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financial transaction
Palak said the Amazon proposed
would be a boon for
small exporters.

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“Usually exports are done by big companies, as small entrepreneurs in most cases cannot enter into the export market as they

do not have buyers

for their products

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lack capacity to
openrenren
Letters of Credit
(LCc) ,”  Zunaid Ahmed
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Palak told reporters

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after the meeting. 

Information Technology (IT) entrepreneurs

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brought a breakthrough
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creating
twitter online market

place,
vk he added.

“We are thinking of creating opportunity

for small manufacturers

through accessing

the global markets using online

platform.”

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In the meeting, Amazon representative urged the junior minister to make friendly policies so that small entrepreneurs can enter
the global markets, particularly the consumers of the US and

the Europe through Amazon platform, it was learned.

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“In the existing system, it is difficult for a small entrepreneur to sell products directly to buyers.  To make it happen, there is a
need to bring changes in the current customs policy and foreign currency transaction guidelines, “said Zunaid.      

“We are thinking to bring small entrepreneurs under the export regime through a different business model, which ultimately
would diversify our exports,” he added.

Zunaid said they wanted Amazon to inform them about the regulations under which the online giant has been doing business in
India.

“After knowing India’s regulations on the particular issue, we will study that deeply and consult local stakeholders before
recommending any changes in regulations, “said Zunaid.   

The junior minister hoped the country’s exports could be doubled, if opportunity
was created for small entrepreneurs.

“The Amazon encourages manufacturers to sell products directly on amazon.com as it intends to pay more to producers,” said
Mahfuzur Rahman, CEO and Founder of Tech Rajshahi.   Mahfuz is coordinating this issue here for Amazon.    

Elaborating,   he said if a manufacturer made profit to the tune $0.2 through selling a product for $4.20 to a brand,  his profit
would be multiplied if he directly sold the same item to buyers through Amazon platform.

In the meeting, issues relating to foreign exchange policy and  banking payment system were discussed  to ensure direct
selling through virtual platform, said Rahman. 

The meeting also discussed how the government and Amazon can work together on creating workforce and knowledge among
the makers, he added.    

How direct sells take place 

In selling goods directly to consumers through Amazon virtual market place, a manufacturer has to ship products to Amazon
warehouses with detail products specifications, which will be placed on their website for sale.

When a buyer will order for a product, it will be delivered to him or her from Amazon warehouse. After the sale is executed, the
manufacturer will get money after deducting commission and other applicable fees. 

Will Amazon start business here? 

There is a rumor that Amazon is keen to launch its e-commerce business in Bangladesh.

“Whether the Amazon will open its business here or not, it will depend on their will and our policy direction. But there was no
such discussion about opening Amazon office here,” said Zunaid Ahmed, when asked.

“Amazon is not opening office here.”

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Add a comment...

Surabhi Bhura
I am a business development manager at Amazon India, and I look after Bangladesh to USA Market
export. Any interested seller/manufacturer/ exporter/ servic eprovider can get in touch here:
surbhura@amazon.com
Like · Reply · Mark as spam · 1 · 45w

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