The government has taken initiatives to expand export of jute products including sacks, bags and yarn through diversification of markets to bring their glorious past back and to boost export earnings.
The initiative came at the eight meeting of “Policy Making Committee” of Commerce Ministry aimed at expediting the activities of commercial wings abroad to expand the country’s export.
As per the decision, a team of Textiles and Jute Ministry will visit Iran and Turkey to extend export market for jute and jute goods, Senior Commerce Secretary Hedayetullah Al Mamoon told the Dhaka Tribune yesterday.
“We have chosen these two countries as there is a huge opportunity for export of jute goods there. We have conveyed the decision to the ministry which will inform us about the visit,” Mamoon said, adding that the issue will be broadly discussed in the next meeting.
Besides, the ministry will carry on a feasibility study on countries like Nigeria and Ghana, which produce Koko and coffee, in order to explore market for jute goods.
Bangladesh will provide visa on arrival for those countries, the meeting decided.
In the meeting, EPB Vice-Chairman and Chief Executive Officer (CEO) Shubhashish Bose said a feasibility study can be launched in those countries that export rice, coffee and koko to expand export baskets.
Stakeholders said jute product export to Iran is decreasing due to imposed embargo. Bangladeshi exporters are facing trouble in exporting jute goods to African countries due to lack of mission and visa complexity, they added.
According to Export Promotion Bureau (EPB) data, in 2014-15 fiscal year, Bangladesh earned $49.83m from Iran, of which $48.32m came from jute goods, including sacks, bags and jute fibers. It fetched $720.88m from turkey, of which over $205m was from jute and jute goods.
In the last fiscal year, Bangladesh exported jute goods worth $868.5m, which was 5.34% higher compared to $824.5m a year ago.
