Dhaka: Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir today announced a strategic initiative by the government to elevate Bangladesh’s traditional jute sector into a $5 billion to $7 billion export-oriented industry. The Minister emphasized that modernization, research, product diversification, and increased private sector involvement are key components for achieving this ambitious target.
According to Bangladesh Sangbad Sangstha, Muktadir highlighted the potential of Bangladesh’s “golden fiber” sector to reclaim its strong position in the global market through planned reforms and technological advancements. He made these remarks while inaugurating the “Diversified Jute Products Fair-2026” at the Jute Diversification Promotion Center (JDPC) in the city.
Currently, Bangladesh earns approximately $1 billion annually from the export of jute and jute goods. Muktadir believes that with strategic planning, modern technology, and a focus on research and quality seed production, the sector could expand significantly. He recalled the sector’s historical importance, noting that jute and jute goods once accounted for nearly 90 percent of the nation’s export earnings in the fiscal year 1972-73.
Despite national exports now reaching approximately $50-55 billion, the contribution from the jute sector has remained relatively stagnant. To address this, the government has implemented a time-bound action plan aimed at enhancing productivity and diversifying markets. The plan includes achieving self-sufficiency in quality jute seed production to lessen reliance on imports, as the country currently imports about 6,000 tonnes of jute seed annually.
The Minister also announced plans for collaborative ventures with leading Chinese universities to boost jute productivity, develop superior seed varieties, and create internationally competitive product designs. State-owned jute mills are gradually transitioning to private management to enhance modernization, efficiency, production, and commercial viability.
Emphasizing innovation, Muktadir stated that the government will boost investment in research and technology to help Bangladesh access high-value global markets through diversified jute products. A comprehensive roadmap is being developed in collaboration with the JDPC and private sector stakeholders to restore the sector’s competitiveness.
He added that Prime Minister Tarique Rahman is personally committed to reviving the jute industry’s former glory and will closely monitor the progress of reform initiatives within the sector.
State Minister for Textiles and Jute Md. Shariful Alam, speaking as a special guest, echoed the call for a collective socio-economic transformation in the industry to enhance the livelihoods of farmers and create new employment opportunities in both rural and urban areas. Textiles and Jute Secretary Abdun Naser Khan presided over the event.
Following the inauguration, the ministers visited various stalls and engaged with entrepreneurs about market expansion opportunities and challenges. The five-day Diversified Jute Products Fair-2026 will remain open to visitors daily from 10 am to 9 pm until May 23.