A new opportunity has emerged for Bangladesh to export goods to war-torn Myanmar. However, because of security risks stemming from the conflict and a shortage of US dollars, businesses in Myanmar are unable to make direct payments.
They therefore want to pay for Bangladeshi goods from a third country. Meanwhile, a Bangladeshi company has applied to the National Board of Revenue (NBR) for permission to receive payment from a third country for goods exported to Myanmar. Officials concerned at the NBR told Prothom Alo that the application would be approved.
The company, A One Fish and Marine Food, applied to the NBR in July for permission to receive export proceeds from a third country. In its application, the company said Myanmar businesses were interested in importing cement, potatoes and medicines from Bangladesh.
However, due to security risks amid the conflict and a shortage of US dollars, they were unable to make direct payments. They therefore wanted to make payments for Bangladeshi goods from Singapore, Thailand or Dubai.
Bangladeshi goods are exported to Myanmar through the Teknaf land port.
Bangladeshi traders say many bridges in Myanmar have been damaged by the conflict, while road communications have also become unsafe. Demand for Bangladeshi goods has increased in areas near the border.
Asked about the matter, A One Fish and Marine Food owner MD Alam told Prothom Alo that Myanmar had few cement factories, creating strong demand for cement there.
However, obtaining the necessary no-objection certificates (NOCs) and approvals takes a long time, preventing exporters from fully capitalising on the opportunity. He added that there was also considerable potential for exporting locally produced potatoes and various energy drinks.
How the approval will work
Officials concerned at the NBR said they initially reviewed A One Fish and Marine Food’s application to receive export proceeds from a third country. They then held discussions with the banking sector. As the main objective is to facilitate exports, a decision has been made to approve the application, which will be communicated shortly.
A relevant official, speaking to Prothom Alo on condition of anonymity, said there was no restriction from Bangladesh Bank on receiving export proceeds from a third country. The application was therefore being approved to facilitate the inflow of foreign currency.
A Bangladesh Bank circular also provides for such an arrangement. A circular issued by its Foreign Exchange Policy Department in 2018 allowed export payments to be made from a country other than the country to which the goods were exported.
However, as of Sunday, the approval had not yet reached the Teknaf Customs Station. As a result, A One Fish and Marine Food owner MD Alam is waiting to begin the exports.
“Even for such an opportunity to earn foreign currency, we have to keep going from office to office and wait,” he said.
Meanwhile, Bangladesh’s exports to Myanmar are growing. According to Export Promotion Bureau (EPB) data, Bangladesh exported goods worth USD 38.9 million to Myanmar in the latest 2025–26 fiscal year, up from USD 34.8 million in 2024–25. Export items included cement and potatoes, as well as yarn and jute products.
Business has declined, but new hopes emerge
More than 100 traders are involved in the export and import of goods with Myanmar. They see new opportunities arising from the proposed economic corridor linking China with Chattogram through Myanmar. Their interest in expanding trade has also grown after China proposed establishing the corridor during the Bangladesh prime minister’s recent visit and discussions were held on Rohingya repatriation.
SM Nurul Hoque, former president of the Bangladesh–Myanmar Chamber of Commerce and Industry, told Prothom Alo that trade between the two countries had fallen to around 25 per cent of its previous level following the influx of Rohingya refugees.
“Once the Rohingya issue is resolved, trade will regain momentum. If the new corridor is established, goods could be exchanged directly with China, Thailand and Vietnam as well. Lead time could fall from 10 days to one day,” he said.
On receiving payment from another country after sending goods to Myanmar, Nurul Hoque said many wealthy Myanmar businesspeople were based in Thailand and Singapore. They could therefore make payments from those countries. Such arrangements were permissible under international rules.
The conflict has caused not only a shortage of dollars in Myanmar but also weakened its banking system. Sonali Bank previously had a branch there, but that branch no longer operates. Bangladeshi medicines are also quite popular in the Myanmar market.
Abu Murshed, former president of the Cox’s Bazar Chamber of Commerce, said there were some restrictions on cement exports because of the conflict. There are concerns that the Arakan Army could use the cement to build bunkers, he said.