Bangladesh government has set a target to transform the country’s jute sector into a $5 billion to $7 billion industry through modernization, research, improved seed production and diversification of jute products, said Textiles and Jute Minister Khandaker Abdul Muqtadir.
He made the remarks while inaugurating the Multi-purpose Jute Products Fair-2026 at the Jute Diversification Promotion Centre in Dhaka.
The minister said Bangladesh’s jute sector once contributed nearly 90% of the country’s export earnings in fiscal year 1972-73, generating $313 million out of total exports worth $348 million. However, despite Bangladesh now earning around $50 billion to $55 billion annually from exports, the jute sector contributes only about $1 billion.
Khandaker Abdul Muqtadir stressed the importance of achieving self-sufficiency in quality jute seed production, noting that Bangladesh currently imports nearly 6,000 tons of jute seeds annually. He said the government is taking steps to reduce import dependency through local production of high-quality seeds.
The minister also highlighted the need for diversified jute products, innovative designs and access to high-value international markets to ensure better returns for farmers and entrepreneurs. He added that investment in research, innovation and technological development would be increased to unlock the sector’s untapped potential.
He further said the government is planning joint initiatives with leading Chinese universities to improve productivity in the jute and leather sectors, develop improved seeds and create globally competitive products and designs.
According to the minister, a comprehensive roadmap is being prepared in coordination with the Jute Diversification Promotion Centre and private-sector stakeholders, while initiatives are also underway to place state-owned jute mills under private management for modernization and profit-oriented operations.
State Minister for Textiles and Jute Md Shariful Alam said revitalizing the jute sector would help Bangladesh earn more foreign currency, improve the livelihoods of farmers and create employment opportunities in both rural and urban areas.
