More free trade agreements needed to face LDC graduation’s impact: Tipu Munshi says in BFTI’s training


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More free trade agreements needed to face LDC graduation’s impact: Tipu Munshi says in BFTI’s training

BM Report

Commerce Minister and BFTI President Tipu Munshi MP said, “Bangladesh will not get duty-free benefits in foreign trades after LDC graduation. So, we need to enter into free trade agreements with other countries and trade alliances by enhancing foreign trade negotiation skills and giving a proper understanding.

Mr. Tipu Munshi was addressing the Bangladesh Foreign Trade Institute’s (BFTI) 4-day-long “Trade Diplomacy and International Trade Negotiation” training’s closing ceremony as the chief guest held in Dhaka on Wednesday.

“In this case, it is very important to know the relevant knowledge and strategies of the concerned parties to make the negotiation fruitful. Along with this, it is necessary to have a sound knowledge of WTO-related agreements, the BFTI president added.

He informed me that the Commerce Ministry is considering forming an expert pool with experienced government and private sector participants. In addition, in line with the Regional Trade Agreement (RTA) Policy 2022 guidelines, the Ministry of Commerce has planned to form a Trade Negotiation Structure with members of various ministries, private institutions, think tanks, and academia.

BFTI CEO and former senior secretary of the Ministry of Commerce, Dr. Md. Zafar Uddin, presided over the function. He said, “BFTI is working to enhance the business knowledge and skills of the public sector as well as the private sector by imparting training. This program has been undertaken considering the potential challenges and capacity building in the post-transition period of Bangladesh from LDC.”

Dhaka Chamber of Commerce and Industries (DCCI) President and BFTI board member Barrister Md. Sameer Sattar, as a special guest, said, “I believe this training will play a significant role in continuing the economic growth of the country towards Vision 2041 and successful implementation of building Smart Bangladesh.”

The four-day training began on Sunday. 25 officials from various ministries and their offices, business associations and chambers, importers, and exporters participated in this program. The Director of BFTI, Mr. Md. Obaidul Azam, delivered the welcome speech on the occasion. Officials of the Ministry of Commerce and BFTI were also present.


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