United News of Bangladesh

Commerce Minister Khandakar Abdul Muktadir on Wednesday called on the World Bank (WB) to extend support in developing trade negotiation skills among Bangladesh's trade officials, emphasising that human resource development is as critical as infrastructure investment in strengthening the country's global competitiveness. "To ensure effective participation in the international trading system, it is essential to build skilled manpower in trade negotiation, trade law, WTO regulations and modern trade management," he said during a meeting with WB Operations Manager Gayle Martin at the Commerce Ministry. The meeting covered ongoing collaboration between the ministry and the global lender, focusing on capacity building, skilled human resource development and modernisation of the trade sector. The minister specifically sought WB assistance in three areas: trade negotiation skill development for ministry officials, establishing a strong resource pool for the Bangladesh Foreign Trade Institute (BFTI), and building practical expertise in trade law and WTO affairs. He also pointed out that despite large-scale projects being implemented under various donor agencies and government funding, adequate initiatives to enhance the capacity of project directors have remained largely absent. World Bank Operations Manager Gayle Martin described the EC4J project, currently being implemented by the Commerce Ministry, as a successful initiative and assured continued support. "World Bank programmes in Bangladesh place special emphasis on job creation, productivity enhancement and value creation to generate long-term positive impact on the national economy." Commerce Ministry Secretary (Routine Duty) Md Abdur Rahim Khan was also present at the meeting.

Commerce Minister Khandakar Abdul Muktadir on Tuesday warned that the government will not tolerate any attempt to create artificial crisis or manipulate market, saying no group or individual will be allowed to hold the market hostage. “This is a country of 180 million people. No group or individual can take the market hostage,” he said while speaking to reporters after a meeting of the task force on commodity prices and market situation at the Ministry of Commerce. Fuel price hike ‘modest’, unlikely to accelerate inflation: Muktadir The minister said the current global situation, particularly the conflict in the Middle East, has created pressure on fuel and supply chains. “The government is closely monitoring the situation and the import flow remains stable.” Responding to a question about soybean oil supply, he said although the supply of bottled oil is somewhat limited, loose oil is available in sufficient quantity. “The government is also monitoring any attempt to charge prices beyond the fixed rate and will take necessary action.” On inflation, Muktadir said any unreasonable price hike or creation of artificial shortages is unacceptable. Addressing traders, he said the market cannot be influenced through speculation and prices must be set based on the actual impact of increased fuel costs. The minister urged businesspeople and other stakeholders to have confidence in the government, adding that efforts are underway to introduce a stable pricing mechanism to ensure a more balanced market in the future.