Dhaka, Feb. 24 -- The Bangladesh Investment Development Authority (BIDA) on Sunday awarded Authorized Economic Operator (AEO) status to 10 business entities, aiming to facilitate trade by streamlining customs procedures.

Similar to the "Green Channel" system at airports, the AEO status allows companies to bypass certain customs checks, expediting the clearance of goods at ports. This is expected to reduce production and export lead times while easing congestion at ports.

BIDA Chairman Ashiq Chowdhury stated that the AEO license is not intended to impose new restrictions on businesses but rather to encourage good practices. "Only companies with a strong track record in consumer rights, tax compliance, and governance will be eligible for ...