The Commerce Ministry will be transformed into a truly effective, efficient, and people-oriented institution within the next 18 to 24 months through special initiatives in four priority sectors, Commerce, Industry, and Textiles and Jute Minister Khandakar Abdul Muqtadir said on Tuesday.
The minister identified the ministry’s main programmes as ensuring stability in market management, reviving the tea industry, addressing post-LDC trade challenges, and taking effective measures to control the prices of essential commodities.
He made the remarks while chairing a review meeting of the Commerce Ministry and its subordinate departments and agencies at the Secretariat.
The commerce minister said that even 55 years after independence, an effective and long-term framework for keeping prices stable for many sensitive and essential commodities has not been developed. A sustainable and effective price-stability system will be established to keep market conditions stable throughout the year in the interest of the people.
Khandakar Abdul Muqtadir said the country’s traditional tea industry, once a significant contributor to export earnings, is currently facing various challenges. Necessary steps will be taken to rebuild the industry on a stronger foundation, increasing its capacity and competitiveness through coordination between government and private sector stakeholders.
The minister stressed the importance of ensuring a successful and smooth entry into the global trading system after Bangladesh’s graduation from LDC to a developing country.
Efforts to sign Free Trade Agreements (FTAs), Economic Partnership Agreements (EPAs), and investment treaties with various countries will be intensified, along with training to build skilled human resources for international trade negotiations.
The minister said market conditions for more than 30 important essential commodities are currently being regularly monitored. An effective system will be developed in coordination with the Agriculture Ministry and other relevant agencies so that the public does not suffer due to abnormal price increases in any season or special situation.
Referring to plans to transform FBCCI into a modern resource centre, the minister said a suitable framework will be adopted by reviewing the models of Turkey, Malaysia, and India, enabling the organisation to become a reliable information repository for trade, markets, and sector-based research.
“The position of minister or secretary is not permanent, but the institution is permanent. Therefore, strengthening the institution is our main goal,” the minister said, adding that through collective efforts, dedication, and professional skills of officials and employees, the ministry will be built into an effective institution for economic development and market management.
Md Abdur Rahim Khan, Secretary (Routine Charge) of the Commerce Ministry, conducted the meeting, which was attended by senior officials from the ministry and its subordinate departments and agencies.
