Karachi, 16 August 2023:

Jute is the ‘Golden Fiber’ of Bangladesh. The Quality of Bangladesh’s jute and jute products is world class. Bangladesh Deputy High Commissioner in Karachi S. M. Mahbubul Alam have a meeting with the Chief Operating Officer Mr. Muhammad Saqlain Akhtar and Sr. Manager (Procurement) of the Thal Jute Industry Ltd of Pakistan at the Chancery. During the meeting the Deputy High Commissioner urges importers of Pakistan to import Jute and jute products from Bangladesh.   

Bangladesh Deputy High Commissioner warmly welcomed the Thal Jute Industry’s delegation at the Mission. Deputy High Commissioner S. M. Mahbubul Alam mentioned that Bangladesh is the largest delta in the world with hundreds of rivers. Bangladesh is a green country which is a production powerhouse. Bangladesh is the 1^st in Jute export, 2^nd in Jute production, 3^rd in Freshwater fish production, 4^th in Rice production, 7^th in Potatoes production. Bangladesh, a country of 170 million population, is a self-sufficient country in food production.

Bangladesh produces 11-12 lac tonnes of jute per year and of which, two lac tonnes of raw jute are exported directly and another two lac tonnes are utilised locally, added the Deputy High Commissioner. The remaining seven lac tonnes are used for making different products, especially yarn, for export to the world markets. He further added that Bangladesh exported $912 million worth of jute and jute goods in the fiscal year 2022-23. Of these export earnings, nearly $500 million came from yarn and twine. He mentioned that Turkey is the biggest market for Bangladesh's jute yarn and twine. Export to other major markets are such as Iran, India, Pakistan and China. According to Bangladesh Jute Spinners Association there are 80 mills in the country.

Deputy High Commissioner further highlighted that Bangladesh is the 2^nd in RMG production and export. Bangladesh is a ‘Role Model; of Socio-economic development in the world. Over 12 million Bangladesh nationals live in over 180 countries and Bangladesh is 8^th in Remittance receipt amounting over US$25 billion a year. Bangladesh’s foreign currency reserve reached up to US$48billion. Total annual Exports of Bangladesh is over US$55 billion. Bangladesh has been striving hard for the annual export of US$100 billion by 2030. Bangladesh will a trillion dollar Economy and the 9^th largest consumer market in the world by 2041. Government of Bangladesh has been implementng “Vision-2041” to turn Bangladesh into an upper middle-income country by 2031 and Developed and Smart Bangladesh by 2041 and building a prosperous and climate-resilient delta by 2100.

The Business delegation of the Thal Jute Industry Ltd of Pakistan highly appreciated the impressive and exemplary development of Bangladesh, which is ‘Role Model’ for many developing countries. He mentioned that the quality of Bangladesh’s jute is world class. Mr. Saqlain Akhtar mentioned that The Thal Jute Industry of Pakistan, which was established in 1966, imports 100% of jute and raw jute as its raw materials from Bangladesh. Mr. Saqlain mentioned that 20% of Bangladesh’s raw jute is imported by the Thal Jute Industry Ltd of Pakistan, which is being used to produce jute bags, which are then provided to the Government of Pakistan for the preservation of rice, wheat and other agricultural produces. Deputy High Commissioner requested to import higher quantity of jute and raw jute from Bangladesh and Mr. Saqlain expressed their willingness for expansion of their industrial production and therefore import more jute from Bangladesh.

Deputy High Commissioner in Karachi assured the importers of Pakistan of all possible supports by the Mission.