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The government has unveiled an ambitious plan to transform the Bangladesh Foreign Trade Institute (BFTI) into a premier national think tank for international trade, trade law, economic research and capacity development, aiming to strengthen Bangladesh’s competitiveness in the rapidly evolving global trading environment.
The announcement was made by Commerce Minister Khandakar Abdul Muqtadir while chairing the 63rd meeting of the BFTI Board of Directors at the institute’s conference room in Dhaka on Tuesday.
Highlighting the growing complexities of global commerce, the minister said Bangladesh needs a stronger institutional platform to conduct high-quality research, generate evidence-based policy recommendations and build professional expertise in international trade.
“In-depth research on the global trading system, international markets and emerging economic trends is essential to protecting Bangladesh’s long-term commercial interests,” he said. “Our goal is to develop BFTI into an internationally recognised centre of excellence that will support policymaking, strengthen trade negotiations and produce skilled professionals capable of meeting future challenges.”
Abdul Muqtadir said the government has adopted a comprehensive long-term strategy to modernise the institute and assured that financial resources would not be a constraint.
“The government has no shortage of funding for the institute’s development,” he said. “BFTI will not only become a leading research institution but also play a vital role in developing expertise in international trade agreements, trade regulations and trade law.”
As part of its expanded mandate, BFTI will regularly undertake research on international market conditions, global trade trends, supply chain developments, emerging risks and economic policies in major economies, including China, India, the United States, Canada and the European Union.
The research findings will be used to support government policy formulation while also providing valuable market intelligence to exporters, importers and other private-sector stakeholders to help them make informed business decisions.
The minister also announced plans to introduce specialised training programmes on international trade, trade law and economic policy in collaboration with internationally reputed universities. These programmes will target government officials, trade professionals, business executives and young researchers to strengthen the country’s institutional capacity.
In another significant initiative, BFTI plans to establish a professional network bringing together trade law experts from both the public and private sectors. The platform is expected to enhance Bangladesh’s capacity in international trade negotiations, dispute settlement mechanisms and the implementation of global trade agreements.
The board meeting also approved the appointment of trade economist Dr Mostafa Abid Khan as the new Chief Executive Officer (CEO) of BFTI.
During the meeting, members were informed about the institute’s ongoing and planned activities to expand its research and training portfolio. The Bangladesh Trade and Tariff Commission (BTTC) is currently conducting several research projects and capacity-building programmes aimed at strengthening trade policy formulation and improving the country’s export competitiveness.
Among its current initiatives are a study on Bangladesh’s air ticketing market for the Competition Commission and training programmes covering trade policy, taxation, VAT, customs procedures, import-export regulations and company registration under the Registrar of Joint Stock Companies and Firms (RJSC).
BFTI is also planning to launch a Postgraduate Diploma (PGD) in International Trade and Business in collaboration with BRAC University to develop the next generation of trade professionals.
The institute further intends to broaden its research and training activities through partnerships with the United Nations Development Programme (UNDP), the South Asian Network on Economic Modeling (SANEM) and the Institute of Economic Reporters Forum (IERF).
The meeting was attended, among others, by Economic Relations Division Secretary Md Shahriar Kader Siddiky, Commerce Secretary Md Ataur Rahman Khan, Export Promotion Bureau Vice-Chairman Mohammad Hasan Arif, Acting BFTI CEO Dr Saif Uddin Ahmed and BFTI Vice-Chairman Mahbubur Rahman.