Bangladesh seeks WB support for human capital, trade capacity building

Commerce Minister Khandaker Abdul Muktadir today (6 May) emphasised that alongside infrastructure development, Bangladesh must place greater focus on human capital and institutional capacity building to strengthen its competitiveness in the global trade arena.

He made the remarks during a meeting with World Bank Operations Manager Gayel Martin at the secretariat, said a press release.

During the meeting, they discussed the country's evolving trade strategy and the need for modernisation. 

The minister identified the development of a highly skilled workforce as a key driver for sustainable economic growth and effective participation in the international markets.

Highlighting the importance of aligning institutional expertise with global standards, Muktadir stressed that Bangladesh must enhance its capabilities in areas such as trade negotiation, trade law, World Trade Organisation regulations, and modern trade management. 

He noted that without such advancements, the country risks falling behind in an increasingly complex global trading system.

During the meeting, the commerce minister called upon the World Bank to expand its cooperation with the Ministry of Commerce through targeted support initiatives. 

He sought assistance in building advanced skills among ministry officials, strengthening the capacity of the Bangladesh Foreign Trade Institute, and improving practical knowledge related to international trade law and WTO frameworks.

Muktadir also drew attention to the importance of improving project management efficiency. 

He observed that while Bangladesh is implementing numerous large-scale development projects with support from various development partners, the effectiveness of these initiatives largely depends on the capabilities of those managing them.

In this context, he urged the World Bank to introduce specialised training programs for Project Directors, noting that enhanced administrative and managerial expertise would contribute to timely and efficient project execution.

Responding to the minister's proposals, World Bank Operations Manager Gayel Martin acknowledged Bangladesh's progress in trade-related initiatives and praised the success of the Export Competitiveness for Jobs (EC4J) project being implemented by the Ministry of Commerce. 

She described the initiative as a significant example of effective development intervention and reaffirmed the World Bank's commitment to supporting similar programs in future.

Martin further stated that the World Bank's ongoing strategy in Bangladesh remains focused on job creation, increasing industrial productivity, and fostering value addition to ensure long-term economic benefits.

The meeting concluded with both sides expressing their commitment to strengthening cooperation between the Ministry of Commerce and the World Bank.