BRAC Business School (BBS) and Bangladesh Foreign Trade Institute (BFTI) have signed an agreement for launching a Post Graduate Diploma (PGD) programme in international trade and business. Md. Obaidul Azam, Director of BFTI, and Dr. Sang Lee, Dean of BRAC Business School signed and exchanged the agreement confirming the initiation of the six-month-long PGD programme on Wednesday, said a press release. The program is expected to launch the first cohort in July 2022. Read: Alper-Doger index lists KUET Prof Alamgir The agreement has been signed in continuation of a signed memorandum of understanding (MoU) by the respective heads of the institutions, Vice-Chancellor of BRAC University, Dr. Vincent Chang, and CEO of Bangladesh Foreign Trade Institute, Dr. Md. Jafar Uddin. Commerce Minister Tipu Munshi, Senior Secretary of Ministry of Commerce Tapan Kanti Ghosh, Chairperson of the Board of Trustees of BRAC University Tamara Hasan Abed, and other important officials from the Commerce Ministry, BFTI and BRAC University were present on the occasion. The two institutions had jointly developed the curriculum for the diploma program to fulfill the demand for up-skilling professionals engaging in international trade activities. As Bangladesh prepares to graduate from its LDC status, international trade sectors are expected to face both challenges and opportunities in the competitive international marketplace. The upcoming PGD program is designed to close the gap between international standards and Bangladesh’s current practices in international trade activities. Read: HSC exams to be held with shortened syllabus, question paper The diploma will deliver knowledge and skills to individuals working in, or planning to work in the foreign trade sector and enhance their professional skills needed to navigate the market for securing improved opportunities for the industries in Bangladesh. In addition to the launching of the post-graduation diploma program, the two parties agreed to cooperate on research and the designing of other educational programs that will support industries and professionals in the international trade sector, mentioned the press release.

Stakeholders from both public and private sectors have urged the commerce ministry to include a proposal for setting up joint testing laboratories and introducing one-stop service for investors in the proposed Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India. They made the call at the 3rd stakeholder consultation meeting, organized by the Bangladesh Foreign Trade Institute (BFTI) on CEPA on Sunday through a physical and zoom platform. The meeting was solely focused on the trade in goods of the joint study, said a press release. All the stakeholders hoped that the proposed CEPA agreement will result in removing the trade barriers and enhance higher volume of trade between the two neighbouring countries.  Addressing the meeting Commerce Secretary Tapan Kanti Ghosh said Bangladesh’s export growth performance in the Indian market has more potential. He also highlighted that the country’s trade has been making a momentous contribution to the economic development of Bangladesh in terms of foreign exchange earnings, improving the balance of payments and faster creation of employment. Md Jafar Uddin, chief executive officer (CEO) of the BFTI chaired the event and emphasized that an effective CEPA between the two countries would not only benefit both the countries in terms of enhanced employment generation and export earnings but also would help Bangladesh identify its untapped potential for export to India. BFTI director Md. Obaidul Azam moderated the programme.  Dr Selim Raihan, lead consultant, CEPA joint feasibility study made his special remarks on the joint study at the beginning of the meeting. Mr Mahtab Uddin, sectoral consultant of the study presented the key-note presentation at the consultation meeting.High officials from public sector and private sector, business leaders, and academicians participated in the consultation meeting as stakeholders. Among others, A.H.M. Ahasan, vice-chairman of Export Promotion Bureau (EPB), Md. Hafizur Rahman, additional Secretary of ministry of commerce, Hafizur Rahman, director general of WTO Cell of the commerce ministry, Dr Md. KhairuzzamanMozumder, additional secretary, finance division, Noor Md. Mahbubul Haq, Joint Secretary, Sha Md. Abu Raihan Alberuni, member, Bangladesh Trade and Tariff Commission, Mohammad Jahangeer Kobir, Joint Secretary and Member, Bangladesh Land Port Authority and representatives from associations and chambers attended the consultation meeting. The Centre for Regional Trade (CRT) under the Indian Institute of Foreign Trade (IIFT) has been nominated to conduct the joint study from the Government of India.

Bangladesh is focusing on bilateral free and preferential trade deals as a strategy to overcome the possible losses of global trade concessions after its graduation to a developing economy. Studies on the feasibility of signing Free Trade Agreements (FTAs) and Preferential Trade Agreements (PTAs) with a number of countries have been completed, according to an official document. Read:TRIPS transition period for LDCs extended by 13 years The countries and organisations include Malaysia, Vietnam, Thailand, Japan and Eurasian Economic Commission. The possibility of Bangladesh signing such trade agreements with China, Myanmar, Nigeria, Mali, Macedonia, Mauritius, Jordan, USA, Iraq and Lebanon is also being explored. Meanwhile, a Comprehensive Economic Partnership Agreement (CEPA) between Bangladesh and India is also on the anvil. Bangladesh Foreign Trade Institute (BFTI) and Indian Foreign Trade Institute are preparing a report on a joint study on CEPA. Read Dhaka-Beijing ties can be prime mover for Bangladesh’s transformation: Debapriya The CEPA is a bit different from FTAs as it covers a lot of issues such as trade in goods and services, investment, intellectual property rights and e-commerce. Bangladesh has signed a bilateral PTA with Bhutan on December 6, 2020. Under the agreement, 34 Bhutanese products will get duty-free access to the Bangladeshi market and 100 Bangladesh products to get similar access to Bhutan. The commodities from Bangladesh include baby clothes and clothing accessories, men's trousers and shorts, jackets and blazers, jute and jute goods, leather and leather goods, dry cell battery, fan, watch, potato, condensed milk, cement, toothbrush, plywood, particle board, mineral and carbonated water, green tea, orange juice, pineapple juice, and guava juice. Read:Dhaka seeks incentive-based package for sustainable graduation of LDCs The 34 products from Bhutan that will get duty-free access to the Bangladesh market include orange, apple, ginger, fruit juice, milk, natural honey, wheat  flour, homogenised preparations of jams, fruit jellies, marmalades, food preparations of soybeans, mineral water, wheat bran, quartzite, cement clinker, limestone, wooden particle boards, and wooden furniture. Both the countries will be able to increase the number of items gradually through consultation. PTA negotiations with Nepal are at the final stage. Read BGMEA discusses export, FDI opportunities with Bangladesh envoy

Bangladesh Foreign Trade Institute (BFTI), a wing of the Commerce Ministry, has tied up with CNN International Commercial (CNNIC), the US-based news channel’s commercial wing, to promote “Made in Bangladesh” products globally.   According to a statement, both the organizations signed a non-financial understanding on Wednesday to promote different export sectors of Bangladesh on the CNN network. Achieving the export-oriented growth strategy through public-private collaboration is one of the targets of the deal signed between the bodies. Also read: Electronics goods exports up 8.5 times in 9 months: EPB Bangladesh has shown resilience and kept the country's economy moving forward even as the world economy was hit by the Covid-19 pandemic, BFTI said in a statement. Bangladesh's success stories need to be promoted in the global arena and campaigns themed "Made in Bangladesh"  will help reach the global audience of CNN, according to the statement. The BFTI will implement the campaign under the direct supervision of a steering committee formed by the Commerce Ministry. Also read: Speakers call for export diversification, new markets at ICAB webinar This campaign coordination and fund management will be executed by Spellbound Communications Limited, the local facilitation agency of CNN in the name of Spellbound Leo Burnett, the BFTI said. Under the 'Made in Bangladesh' campaign, CNN will develop and execute TVC, Blueprint Bespoke Editorial, Promo, Vignettes and a "Made in Bangladesh" theme week. CNN will also promote five potential export sectors as well as 10 leading export-oriented organisations within the selected sectors. BFTI chief executive officer (in-charge) Md Obaidul Azam and CNNIC director (sales) Abhijeet Dhar signed the instrument on behalf of their respective sides at BFTI office at Karwanbazar in Dhaka. As per the deal, CNN will produce television advertisements, promotional audio visuals and prepare a themed week of 'Made in Bangladesh' and others to campaign for Bangladeshi exports. The Spellbound Communications Limited, the local representative of the CNN, and the BFTI will work together to make the digital campaign a success.  

State Minister for ICT Zunaid Ahmed Palak on Sunday said the participation of young entrepreneurs in F-commerce (Facebook commerce) is on the rise significantly. “At least 400,000 new entrepreneurs are engaged in F-commerce. Bangladesh Bank is going to arrange small loans at 4 percent interest for the entrepreneurs who are engaged in F-commerce and Startup business,” he said at a virtual conference. Also read: Govt planning to formulate data privacy protection law: Palak The e-Commerce Association of Bangladesh (e-CAB) arranged the virtual conference on Rural to Global E-commerce Policy Conference. LGRD and Cooperatives Minister Tazul Islam inaugurated the event. Palak also highlighted different initiatives taken by the government for e-commerce and its entrepreneurs in the first session of the conference.  The LGRD minister said people are choosing e-commerce to sell and purchase goods, from food to luxurious products. “Though it (e-commerce) began small, now a sort of dependency (on e-commerce) has been created,” he said. Also read: Palak unveils software to bridge jobseekers with disabilities ... Addressing the function, Senior Secretary of Commerce Ministry Dr Jafar Uddin said the commerce ministry has formed a digital commerce cell to implement the digital commerce policy. “The work is on to finalise the digital commerce operation guidelines 2021. We keep the matter of inclusion of social media commerce entrepreneurs in the guideline under the consideration of the Commerce Ministry,” he said.  Chief executive officer of Bangladesh Foreign Trade Institute (BFTI) Obaidul Azam, deputy governor of Bangladesh Abu Farah Md Nasser and Bangladesh Association of Software and Information Services (BASIS) Syed Almas Kabir, among others, spoke at the conference presided over by e-CAB president Shomi Kaiser, said a press release. Read Startup Bangladesh Ltd to invest Tk 100 crore for 50 startups marking birth centennial of Bangabandhu and Golden Jubilee of Bangladesh