How to Import from China to Bangladesh?
China is the biggest trading partner of Bangladesh and is the foremost source of imports. There are two ways to import from China to Bangladesh.
One is by introducing yourself. For this, you must have your own import license. This is a great option if you are going to import regularly and you need a lot of products.
Another way is to work with other Chinese importer, such as supplyia Imports. The contract importer will accept your order and then quote for you. This is also a great option if you are starting your importing business and don’t have your license or don’t want to import a lot of Chinese products.
How to Start Import Product from China to Bangladesh?
There are some options for importing products from China to Bangladesh. Here is a step-by-step guide.
1. Get an import license from government of Bangladesh
In general, documents required for importation to Bangladesh include a letter of credit authorization form, a bill of lading or airway bill, commercial invoice or packing list, and a certificate of origin. For certain imported items or services additional certifications or import permits related to health, security, or other matters are required by the relevant government agencies. Reduced documentation requirements apply for the public sector.
2. Know what you import
You can import all kinds of products from China to Bangladesh.
Therefore, you need to determine which product import from China to Bangladesh you will engage in. This requires market research to find the best-imported products.
3. Conduct research on suppliers
There are many ways to find China wholesale suppliers, such as Alibaba, Google, etc. Or you can find sourcing agents like supplyia, as it is famous for importing from China to Bangladesh export company.
You can choose from a list of multiple suppliers, and you can rent imports. Parameters that can be checked when selecting a supplier include price and minimum order quantity.
You can also have them take samples to check if they meet your criteria.
Please note that even if the supplier provides samples for free, you will pay the shipping cost of the samples.
4. Analyze your budget
Since you will be in international trade, you need to know how much you will spend. Therefore, you need to determine your budget(usually >$1000 for a start) to consider all factors of shipping costs. This step is crucial and will save you from financial setbacks in transit.
5. Get in touch with your supplier
Now that you have a list of potential suppliers, you can continue to narrow it down to find the best ones. Some areas you can clarify to get suppliers to include:
- Minimum order quantity they can offer
- best offer
- Confirm the price of each product on Alibaba
- payment options
- Production time
Knowledge of these aspects will allow you to find the right supplier for your shipment.
6. Negotiate for a better deal
Once you have a supplier, you can reach out to them to negotiate some aspects of shipping. This may include price negotiation, production time, and the quality of your goods.
Once you have received your shipment, you can proceed and authorize payment for your shipment. Remember, this is a requirement; you will be importing from China to Bangladesh through a letter of credit.
8. Shipping Agent from China to Bangladesh
Find a good shipping agent who will ship your products to the location. Make sure the shipping time, the clearance policy, and documents. The shipping agent should help you calculate duties and taxes on the specified product you want to import.
How much is the customs duty and tax for imports on products from China to Bangladesh?
Import goods from China to Bangladesh Conclusion
If I were you, buying through BD’s agents and making a reasonable profit, I wouldn’t buy directly from China because of the inherent problems. Most major department stores in the US usually buy through agents in China, Hong Kong and the US. These sourcing agents offer them the best quality, best product, credit and stand as a guarantee in case of late delivery or poor quality. They minimize risk.
If you buy directly from China factory to Bangladesh, you will buy slightly cheaper but must be from different factory, ensure quality and specification, consolidate from different factory, goods pay 100% before shipment, pay freight and import duties, need warehouse to store the goods and Bangladesh to increase delivery costs.
This will increase the cost and block your money. If the goods are late or have quality problems, you will lose the season and the buyer. You should calculate the difference between the landing price and the price you bought from BD’s wholesaler.