Commerce Minister Khandakar Abdul Muktadir on Tuesday announced plans to transform the Bangladesh Foreign Trade Institute (BFTI) into a modern, effective and financially self-sustaining institution capable of strengthening the country's international trade capacity.

"The institution will be developed to achieve its own financial strength and become a self-reliant knowledge centre," he said while presiding over the 62nd Board Meeting of BFTI held at the conference room of the Ministry of Commerce.

Industries will be expanded further to reduce unemployment: Minister Muktadir

Emphasising the need for Bangladesh to better navigate the growing complexities of international trade, the minister announced that BFTI will form a permanent expert panel to assist with World Trade Organization (WTO) dispute settlement, trade policy analysis, and negotiations on bilateral and multilateral trade agreements.

"This panel will comprise experienced trade experts, legal professionals and researchers from both the public and private sectors," he said.

The board meeting approved a recommendation to appoint a qualified Chief Executive Officer (CEO) to bring dynamism and efficiency to the institution.

It also resolved to introduce a Post Graduate Diploma programme under BFTI, subject to approval from the University Grants Commission of Bangladesh, covering international trade, trade law and trade policy research to develop skilled human resources in these fields.

The meeting further stressed the need to expand BFTI's research activities, strengthen training capacity and build research networks at both the national and international levels.

Senior officials, including Commerce Secretary (Routine Duty) Md Abdur Rahim Khan, Economic Relations Division (ERD) Secretary Mohammad Shahriar Kader Siddiky, and Industries Secretary Md Obaidur Rahman attended the meeting.