DHAKA, July 21, (v7n) – Commerce Minister Khandakar Abdul Muktadir today said the Bangladesh Foreign Trade Institute (BFTI) would be transformed into a strong national think tank for international trade research, trade law, economic analysis, and capacity development to better safeguard the country's future commercial interests.
He made the remarks while chairing the 63rd meeting of the BFTI Board of Directors at the institute's conference room. "The changing global trading system, international markets, and economic developments require in-depth research. There is no alternative to this if we are to protect Bangladesh's long-term trade interests," the minister said.
He said the government has undertaken a new plan to strengthen the institute and provide it with long-term strategic direction. "We do not have any shortage of funding. What we needed was a long-term vision, and now work has begun in that direction," he said.
The commerce minister said BFTI would play a key role in developing skilled professionals in international trade agreements, trade regulations, and legal interpretation. The institute would regularly conduct research on market conditions, trade trends, potential risks, and economic developments in major economies including China, India, the United States, Canada, and the European Union, with findings supporting government policymaking and private-sector decisions.
Highlighting plans to introduce internationally recognised training programmes, Muktadir said BFTI would collaborate with leading global universities to offer specialised training on international trade, trade law, and economic policy for government officials and private-sector representatives. He also announced plans to establish a network of trade law experts from both public and private sectors to strengthen institutional capacity.
The board approved the appointment of Dr Mostafa Abid Khan as the new Chief Executive Officer of BFTI. The meeting was informed that the Bangladesh Trade and Tariff Commission is carrying out research and training activities to strengthen trade policy and export competitiveness, including reviews of trade laws, anti-export bias impacts, anti-dumping and safeguard challenges, and leather sector export opportunities. Research is also underway for the Bangladesh Competition Commission on the air ticketing market.
BFTI is continuing training programmes on trade policy, RJSC registration, taxation, VAT, customs, and import-export regulations. In collaboration with BRAC University, a Postgraduate Diploma in International Trade and Business is being launched, and partnerships with UNDP, SANEM, and IERF are expanding research and capacity-building activities.
Among others, Economic Relations Division Secretary Md Shahriar Kader Siddiky, Commerce Secretary Md Ataur Rahman Khan, EPB Vice-Chairman Mohammad Hasan Arif, acting BFTI CEO Dr Saif Uddin Ahmed, and BFTI Vice-Chairman Mahbubur Rahman attended the meeting.
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