Bangladesh ministry forms Jute Product Business Promotion Council

18 Apr '23

1 min read

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Insights

Bangladesh's commerce ministry recently formed the Jute Product Business Promotion Council to expedite the development of the sector by diversifying jute products, boosting exports, incorporating modern technology and enforcing compliance.
Eight associations related to jute and jute products will be added to the council, a non-profitable institution.

Bangladesh’s commerce ministry recently formed the Jute Product Business Promotion Council (JPBPC) to expedite the development of the sector by diversifying jute products, boosting exports, incorporating modern technology and enforcing compliance.

Commerce minister Tipu Munshi inaugurated the council, which became operational by forming seven sector-wise councils.

At present, the country produces about 90 lakh bales (one bale equals 182 kg) of jute—about 70 per cent of global production.

The new council will be a non-profitable institution under the Company Act. Eight associations related to jute and jute products will be added to the council, media outlets in the country reported.

Bangladesh fetched around $1.13 billion in fiscal 2021-22 from export of jute and jute products, according to Export Promotion Bureau data.

ALCHEMPro News Desk (DS)

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