United News of Bangladesh

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 said there is no alternative to in-depth research on the global trading system, international markets and economic shifts in order to safeguard the country's future commercial interests. Reforms underway to turn leather sector into $10b export industry: Muktadir He said BFTI is being strengthened further under a new plan with this goal in mind. "We have no shortage of the necessary funding, what was needed was long-term direction. That work has now begun.” The minister said 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, the minister said, adding that such research is expected to support both government policymaking and private sector business decisions. Outlining plans to launch international-standard training programmes, the minister said specialised training on trade, trade law and economic policy would be introduced 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.” The meeting approved the appointment of Mostafa Abid Khan as the new Chief Executive Officer of BFTI. It was also informed that the Bangladesh Trade and Tariff Commission (BTTC) is carrying out several research and training activities to strengthen the country's trade policy and export capacity. These include a review of existing laws and regulations, a study on the impact of anti-export bias on export diversification, an analysis of challenges related to anti-dumping, countervailing and safeguard measures, and research on opportunities to expand export markets for Bangladesh's leather sector. Additionally, research is under way for the Bangladesh Competition Commission (BCC) on the competitive landscape of the country's air ticketing market, while training programmes 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).

Commerce  Minister Khandakar Abdul Muktadir on Friday said the government has adequate stocks of essential commodities to keep market prices stable during the holy month of Ramadan. “The main responsibility of the Ministry of Commerce is to ensure price stability of essential food items. This responsibility becomes even more important during Ramadan,” he told reporters in Sylhet.  The minister said when the current government assumed office, there was little scope to take special measures ahead of Ramadan.  “However, the positive aspect is that the amount of food stock we currently have is sufficient to maintain price stability in the market,” he added. Minister Muktadir speaking to journalists at Sylhet Osmani International Airport after exchanging greetings with officials of different government departments and party leaders. Responding to a question on development plans for Sylhet, the minister said he had highlighted these issues throughout his election campaign and manifesto.  “We want to implement initiatives that are directly linked to improving the quality of life of the people of Sylhet,” he said, adding that priority would be given to employment generation, expansion of IT-related professions and the establishment of an AI centre. The minister also said the government would work sincerely over the next five years, utilising every single day to move Bangladesh forward in the global arena. 'Not all collections in the road transport sector is extortion': Roads, Railways and Shipping Minister Replying to a question about job creation at the Sylhet IT Park, he said investment is essential to generate employment.  “To attract investment, we need to improve communication systems, reduce red tape and ensure a supportive environment, including political stability,” Muktadir said. He added that special policy support is needed for expatriate and local investors in Sylhet. “We are working on these issues and their implementation will be visible very soon." Among others present were Sylhet MP MA Malik, Divisional Commissioner Khan Md Reza-un-Nabi, Range DIG Md Mushfekur Rahman, Metropolitan Police Commissioner Abdul Quddus Chowdhury, Deputy Commissioner Md Sarwar Alam, Sylhet Metropolitan BNP Acting President Rezaul Hasan Koyes Lodi and Sylhet District BNP President Abdul Qaiyum Chowdhury, along with leaders of the Bangladesh Nationalist Party and its associate bodies.