Dhaka: Bangladesh Foreign Trade Institute (BFTI) will be developed into a strong national think tank for international trade, trade law, economic research, and skills development, Commerce Minister Khandaker Abdul Muktadir said on Tuesday. Speaking as chair of the 63rd meeting of the institute’s Board of Directors at the BFTI conference room, the minister emphasized the necessity of in-depth research on the global trading system, international markets, and economic shifts to safeguard the country’s future commercial interests.
According to United News of Bangladesh, the minister stated that BFTI is being strengthened under a new plan, emphasizing that there is no shortage of necessary funding, but rather a need for long-term direction. He said, “We have no shortage of the necessary funding, what was needed was long-term direction. That work has now begun.” The minister underscored that BFTI would play a key role in building a skilled workforce capable of interpreting international trade agreements, rules, and legal provisions.
The institute will conduct regular research on market conditions, trade trends, potential risks, and economic changes in major global economies, including China, India, the United States, Canada, and the European Union. Such research is expected to support both government policymaking and private sector business decisions. Outlining plans to launch international-standard training programs, the minister announced the introduction of specialized training on trade, trade law, and economic policy for government officials and private sector representatives in collaboration with renowned universities worldwide. ‘A skilled network of trade law experts from both public and private sectors will also be formed,’ he added.
During the meeting, approval was granted for the appointment of Mostafa Abid Khan as the new Chief Executive Officer of BFTI. It was also disclosed that the Bangladesh Trade and Tariff Commission (BTTC) is conducting several research and training activities to strengthen the country’s trade policy and export capacity. These include reviewing existing laws and regulations, studying the impact of anti-export bias on export diversification, analyzing challenges related to anti-dumping, countervailing, and safeguard measures, and researching opportunities to expand export markets for Bangladesh’s leather sector.
Additionally, research is underway for the Bangladesh Competition Commission (BCC) on the competitive landscape of the country’s air ticketing market, while training programs on trade policy review, RJSC registration and returns filing, and tax-VAT-customs and import-export procedures continue. The meeting further noted that BFTI, in a joint initiative with BRAC University, has taken steps to launch a Post Graduate Diploma (PGD) in International Trade and Business. In parallel, BFTI is expanding its research and capacity-building activities through partnerships with UNDP, SANEM, and the Institute of Economic Reporters’ Forum (IERF).