Revenues from the Teknaf land port - a border trade corridor situated on the banks of the Naf River near the Teknaf sub district - generated 1,070M Taka in the 2011-12 fiscal years (FY), according to a Bangladeshi customs officer who didn’t want their name used.
“The earnings included tax receipts and customs fees, through the increase of two-way trade between Bangladesh and Burma.”
This was an unexpected turn of events for the National Revenue Board of Bangladesh (NBR). Despite illegal cross border smuggling operations there was still significant revenue generated, said the customs official.
According to another anonymous source the NBR hopes to collect 650M Taka in the 2012-13 fiscal years, which runs from July 1-June 30.
The country relies on goods like timbers, fish, and spices from Burma. Burma imports cement, industrial tubing, aluminum utensils, and even human hair from their Bangladesh neighbor.
The Teknaf land port is likely to continue to boost the country’s economy through improved trade relations with Burma. The land port will help earn significant revenues for the government and combat cross border smuggling, according to the official.
