Commerce, Industry and Textile Minister Khandaker Abdul Muktadir announced that within the next 18 to 24 months, the Ministry of Commerce will be transformed into an efficient and people-oriented institution. Speaking at a review meeting at the ministry’s conference room in Dhaka, he outlined four priority areas: ensuring market stability, revitalizing the tea industry, addressing post-LDC trade challenges, and controlling essential commodity prices.

He noted that even after 55 years of independence, a sustainable framework for price stability of essential goods has not been established. The ministry plans to build a long-term mechanism to maintain market stability year-round. The minister also emphasized strengthening the tea industry through coordinated efforts between public and private sectors, and preparing for Bangladesh’s transition from LDC to developing country status by expanding trade agreements and training officials for international negotiations.

Muktadir further mentioned plans to transform the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) into a modern resource center modeled after examples from Turkey, Malaysia, and India, to serve as a reliable data hub for both government and private sectors.