"But we must resist temptation to apply extremely sophisticated biotechnology that may lead to moral and social hazards," he said at a seminar on 'Biotechnology: Research and Practice in Bangladesh' organised by the Brac University at Brac Centre Inn in the city.

There are many areas where biotechnology can be applied to achieve immense economic benefits, the minister said, adding that around 10,000 tons of baker's yeast can be produced annually by applying conventional techniques of biotechnology, which can earn a handsome amount of foreign exchange after meeting local demand.

Bangladesh has to exploit the potentials of biotechnology as it faces two major challenges of ensuring food security for a growing population and halving poverty by 2015, said State Minister for Agriculture Mirza Fakhrul Islam Alamgir.

"We have no other alternatives but to apply biotechnology to increase food production," he said. "We can achieve sustained food security and reduce poverty through its environment-friendly application."

But the sustainable and proper application of biotechnology is not possible without safety regulations, Alamgir said, adding that steps have been taken to formulate a national biotechnology policy.

The National Institute of Biotechnology will also be set up soon for research and proper use of biotechnology, he said.

Prof. Jamilur Reza Choudhury, vice-chancellor of Brac University, said it is imperative to make use of interests of the non-resident Bangladeshi experts to advance this technology in the country.

The pharmaceutical industry in the country has a high demand for biotech experts, he said, adding that the Brac University is going to introduce graduate programmes in this field, particularly in bioinformatics.

Prof Nayyum Choudhury, former chairman of Bangladesh Atomic Energy Commission, said that the country lacks coordinated research activities in biotechnology at the national level.

On the other hand, research at the individual or institutional level suffers from inadequate funds, he said while speaking at a technical session, chaired by Prof Mustafizur Rahman.

Biotech experts Prof AAZ Ahmad, Prof Hasina Khan, Prof Jeba I Seraj, Prof M Imdadul Hoque and Prof Rakha Hari Sarker also spoke.