Import and Export Policies of the Textile Sector of Bangladesh

Abstract

The report focuses on the factors and policies that answers the importance, growth, and trend of Bangladesh’s textile and RMG industry globally, and how it is contributing to national economic development. From the perspective of M&J Group, an established apparel manufacturing group of Bangladesh, the report holds discussions on the background, objectives to scopes and key concepts of the industry with the help of charts, tables, and SWOT analysis. With the rising demand for sustainable regulation policies, environmental concerns, and ethical labor practices, and not to mention the rising taxes, the report talks about the issues regarding source tax reductions, income tax exemptions, consideration of VAT and duty charges on recycled raw materials. These policy measures are important for improving liquidity, reducing production costs, encouraging sustainability, and strengthening export competitiveness. The internship experience section reflects my practical learning in accounting related tasks such as checking export and import bills, verifying invoices, recording payables, maintaining data in Oracle ERP and Microsoft Excel, monitoring sales revenue, sales realization, receivables, and export-related expenses. This experience helped me understand how accounting functions support export operations in a large apparel manufacturing organization.