Commerce Minister Khandakar Abdul Muktadir announced today that the Bangladesh Foreign Trade Institute (BFTI) will be transformed into a robust national think tank dedicated to international trade research, trade law, economic analysis, and capacity development. This move aims to better safeguard the country’s future commercial interests. The minister made the announcement while chairing the 63rd meeting of the BFTI Board of Directors. He emphasized the need for in-depth research to navigate the changing global trading system and protect Bangladesh’s long-term trade interests.
The government has initiated a new plan to strengthen the institute and provide it with long-term strategic direction. The commerce minister assured that there is no shortage of funding and that the focus now is on developing a long-term vision. BFTI will play a crucial role in developing skilled professionals in international trade agreements, trade regulations, and legal interpretation.
The institute will conduct regular research on market conditions, trade trends, potential risks, and economic developments in major economies, including China, India, the United States, Canada, and the European Union. The findings will support government policymaking and business decisions in the private sector. Additionally, BFTI will introduce internationally recognized training programs in collaboration with leading global universities.
Muktadir also announced plans to establish a network of trade law experts from both the public and private sectors to enhance Bangladesh’s institutional capacity in international trade. The board approved the appointment of Dr. Mostafa Abid Khan as the new Chief Executive Officer (CEO) of BFTI. The institute is expanding its research and capacity-building 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 transformation of BFTI into a national think tank is expected to significantly enhance Bangladesh’s capacity to navigate the complexities of international trade, thereby protecting and promoting the country’s commercial interests in the global market.
