The European Union (EU), which is the biggest export market of Bangladesh, has given the country 6-month grace period until 30 June 2020 to comply with the European Union’s (EU) Registered Exporter (REX) certification system of origin of goods to retain the GSP (Generalised System of Preference) facility there, claimed media reports.
The REX system – the effective application date of REX system for Bangladesh began on 1 January 2019, and ended on 31 December – is applicable for the EU’s GSP beneficiary countries, and the EU notified Bangladesh about it in 2017.
“There will be no scope to issue GSP Form-A (the existing certification system) after the 30 June deadline,” reportedly maintained a letter issued by the country’s Export Promotion Bureau (EPB), which further underlined that the EU has extended the REX registration number issuance time for Bangladesh until 30 June as grace period, considering the huge number of local exporters who shipped goods to EU, after the EPB requested for the same.
The REX system is based on the principle of self-certification by exporters, who will issue statements on origin to themselves on eligibility of duty-free facility to the EU.
