-Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir spoke as the chief guest at the inauguration of the "Diversified Jute Products Fair-2026" at the Jute Diversification Promotion Center (JDPC). Photo : Collected

DHAKA, May 19, 2026 (BSS) -Commerce, Industries and Textiles and Jute Minister Khandakar Abdul Muktadir today said that the government has set an ambitious target to transform Bangladesh's traditional jute sector into a US$5 billion to $7 billion export-oriented industry.

Through modernization, research, diversified products, and stronger private sector participation this target can be reached Muktadir hopes.

"The country's golden fiber sector has the potential to regain a prominent position in the global market through planned reforms and technological advancement," Muktadir said.

The Minister made the remarks while speaking as the chief guest at the inauguration of the "Diversified Jute Products Fair-2026" at the Jute Diversification Promotion Center (JDPC) in the city.

Muktadir said that Bangladesh currently earns around $1 billion annually from jute and jute goods exports, but the sector could grow several-fold with meticulous planning, modern technology, intensive research, quality seed production and expansion of diversified jute products.

Recalling the sector's historical contribution, the Minister noted that jute and jute goods accounted for nearly 90 percent of the country's export earnings in fiscal year 1972-73. 

Despite national exports now reaching around $50-55 billion, he said, the jute sector's export contribution has remained almost stagnant.

To reverse the trend, he said, the government has already adopted a time-bound action plan focusing on productivity enhancement and market diversification.

Under the plan, he noted, the government aims to achieve self-sufficiency in quality jute seed production to reduce dependence on imports, as Bangladesh currently imports nearly 6,000 tonnes of jute seed annually.

The Minister also announced plans for joint ventures with leading Chinese universities to improve jute productivity, develop advanced seed varieties and create internationally competitive product designs.

He said state-owned jute mills are gradually being shifted toward private management systems to ensure modernization, higher efficiency, increased production and commercially sustainable operations.

Emphasizing innovation, Muktadir said, the government would increase investment in research and technology to expand Bangladesh's access to high-value global markets through diversified jute products.

The Minister added that a comprehensive roadmap is being prepared in coordination with the JDPC and private sector stakeholders to restore the sector's competitiveness.

He also mentioned that Prime Minister Tarique Rahman is personally committed to reviving the lost glory of the jute industry and will regularly monitor progress of the sector's reform initiatives.

Speaking as special guest, State Minister for Textiles and Jute Md. Shariful Alam also shared views on the need for a collective socio-economic transformation in the industry to improve 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.

After inaugurating the fair, the ministers visited different stalls and exchanged views with entrepreneurs regarding market expansion opportunities and existing challenges in the sector.

The five-day Diversified Jute Products Fair-2026 will remain open to visitors every day from 10 am to 9 pm till May 23.