Commerce Minister Khandakar Abdul Muktadir has announced that the Bangladesh Foreign Trade Institute (BFTI) will be modernised and turned into an effective and sustainable institution to bolster the country’s international trade capabilities.
Presiding over the 62nd Board Meeting of the BFTI at the Ministry of Commerce conference room on Tuesday, the minister emphasised that the institute will be developed to eventually achieve financial autonomy and serve as a self-reliant knowledge hub.
Highlighting the complexities of international trade, the minister stated that Bangladesh must become more proficient and prepared. To this end, a permanent expert panel will be established under the BFTI to provide essential support in World Trade Organisation (WTO) dispute resolution, trade policy analysis, and negotiations for bilateral and multilateral trade agreements.
This panel is set to include experienced trade experts, legal professionals, and researchers from both the public and private sectors.
“We intend to build BFTI as a permanent and effective resource base,” the minister remarked, noting that the institute’s expert assistance will be vital for the nation during international trade negotiations.
To ensure efficient management, the board accepted a recommendation to appoint a qualified Chief Executive Officer (CEO). Furthermore, a decision was reached to introduce a Post Graduate Diploma under the BFTI, subject to approval from the University Grants Commission (UGC) of Bangladesh.
This initiative aims to develop skilled human resources in the fields of international trade, trade law, and trade policy research.
The meeting also underscored the importance of expanding the institute’s research activities, enhancing training capacities, and establishing research networks at both national and international levels.
The board meeting was attended by Md Abdur Rahim Khan, secretary (Routine Charge) of the Ministry of Commerce; Mohammad Shahriar Kader Siddiky, Secretary of the Economic Relations Division; Md Obaidur Rahman, secretary of the Ministry of Industries; and Md Nazrul Islam, rector of the Foreign Service Academy.
Other notable participants included Mohammad Hasan Arif, vice chairman of the Export Promotion Bureau; Md. Abdul Gafur, Chairman of the Bangladesh Trade and Tariff Commission; Mahbubur Rahman, President of the International Chamber of Commerce Bangladesh; Mahmud Hasan Khan Babu, president of the Bangladesh Garment Manufacturers and Exporters Association; Taskin Ahmed, president of the Dhaka Chamber of Commerce and Industry; Kamran T Rahman, president of the Metropolitan Chamber of Commerce and Industry; and Saif Uddin Ahmed, chief executive officer of the BFTI.
