Bangladesh’s thriving bicycle export industry is experiencing a setback as Germany imposes anti-dumping duty and other tariffs, suspecting the bicycles’ Bangladeshi origin. Currently, Germany serves as the largest market for Bangladeshi bicycles, accounting for approximately 25% of total exports. Concerned domestic bicycle manufacturers and exporters are urging the commerce ministry to collaborate with the German embassy in Dhaka and the Bangladesh embassy in Berlin to address the issue effectively. The Bangladesh Bicycle and Parts Manufacturers and Exporters Association (BBPMEA) president has written a letter to the ministry, highlighting the challenges faced by importers in Germany. German customs are imposing full tariffs and anti-dumping duty due to doubts about the authenticity of Bangladeshi bicycles, which is contrary to the principles of the EU’s GSP verification policy. This development raises concerns about the future of bicycle exports to Germany, potentially resulting in an annual foreign exchange loss of $30-40 million for Bangladesh.
Bicycle Export to Germany Faces Setback
Economic Tag: Export
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