BFTI will be the national think tank for international trade research: Commerce Minister

He made this statement while presiding over the 63rd meeting of the institute's Board of Directors held at the BFTI conference room in the capital on Tuesday. He said that to protect the country's future commercial interests, there is no alternative to in-depth research on the global trading system, international markets, and economic changes. With this goal in mind, BFTI is being further strengthened under a new plan.

The Commerce Minister said, “We have no shortage of necessary funding; what was needed was long-term guidance. Work has now begun in that area.” He informed that BFTI will play a vital role in creating a skilled workforce in international trade agreements, regulations, and legal interpretations.

He further stated that BFTI 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. This research will assist the government in policy formulation and the private sector in making business decisions.

Highlighting plans to launch international standard training programs, the Commerce Minister said specialized training on trade, trade law, and economic policy will be introduced for government officials and private sector representatives in collaboration with renowned universities worldwide. Additionally, a skilled network of trade law experts from both the public and private sectors will be developed.

The meeting approved the appointment of Dr. Mostafa Abid Khan as the new Chief Executive Officer of the Bangladesh Foreign Trade Institute.

The meeting was informed that the Bangladesh Trade and Tariff Commission (BTTC) is conducting multiple research and training activities to enhance the country's trade policy and export capacity. These include reviewing existing laws and regulations, the impact of Anti-Export Bias on export diversification, challenges of anti-dumping, countervailing, and safeguard measures, and opportunities for expanding the export market of Bangladesh's leather sector.

Additionally, research is ongoing on the competitive situation of the country's air ticketing market for the Bangladesh Competition Commission (BCC). Various training programs on trade policy review, RJSC registration and return submission, tax-VAT-customs, and import-export procedures are also continuing.

The meeting further informed that a joint initiative by BFTI and Brac University has been taken to launch a Post Graduate Diploma (PGD) in International Trade and Business. At the same time, research and capacity development activities are being expanded through partnerships with UNDP, SANEM, and the Institute of Economic Reporters Forum (IERF).

Present at the meeting were Economic Relations Division Secretary Md. Shahriar Kader Siddiky, Commerce Secretary Md. Ataur Rahman Khan, EPB Vice Chairman Mohammad Hasan Arif, BFTI Chief Executive Officer (additional charge) Dr. Saif Uddin Ahmed, BFTI Board of Directors Vice Chairman Mahbubur Rahman, and other concerned members.