Jute is one of the major valuable natural resources and foreign currency earning sector of the country; also main raw materials of Jute Industries in Bangladesh and is truly ruled the world trendy fashion market. Jute, so-called golden fiber of Bangladesh, is used for clothing, rope, cordage and sacking and many more. Bangladeshi Jute products are available in neutral and golden colors and different shades of white. Jute is the most resourceful fibers nature and cheapest and most significant of all textile after cotton fiber, which has several uses.
The latest fashion experts are focusing on jute crafted accessories such as jewelry, scarves, bags, ties, belts, sharees, certain, clothes and many more. Growing international interest people are accepting fashionable jute products mixed with cotton, wool, nylon, rayon, acrylic or polypropylene, mixing jute with other element upgrades jute in terms of feel, appearance, wash ability, resilience and more durability all the way.
Bangladeshi craftsmanship and art is reflected in a huge range of jute clothing, handicrafts and decorative materials and so on. Trendy fashionable product assortment of Jute comprises floor covering and carpets, window/door and wall coverings, table mats, swings, basket, hammocks, room decor, bedroom slippers, bedspreads, shawls, rug, blankets, quilt, shirts, skirts and other garments, and an ideal host for many more home textile products; also develop value-added jute products as like jute gunny bag or sack bags, jute yarn and twine, handicrafts, shopping bags, canopy, sports and travel bags, wine bags and other jute textile goods to enhance of the Jute Industry in Bangladesh.
In these days, jute is one of the largest export oriented industries and growing export volume of Bangladesh and its contribution to the national economy is significantly. According to Export Promotion Bureau (EPB) data shows, Bangladesh exported jute and jute goods worth nearly $920 million in fiscal year 2015-16. Of the exports, yarn and twine was $559m, followed by raw jute over $173m, sacks and bags over $122m. In general, the total jute production of 10-12 lakh tonnes per year, 80pc are exported and remaining 20pc is consumed by the local market. Now the mandatory jute packaging law could boost demand in the local market.
How to Setup Jute Industries in Bangladesh?
Generally, export oriented jute industry or jute business needs medium/ large capital to establish jute manufacturing factory for producing jute goods, however, high quality fashionable products making machinery set up is required a large investment of this sector. Being required a large or medium investment in this sectors two or more entrepreneurs can establish Jute industry/ business in Bangladesh. Basically, for setting up Jute business, at first need a Partnership Firm Registration or Limited Company Registration at RJSC (Registrar of Joint Stock Companies and Firms). The RJSC is only Govt. authority for issuing documents and monitoring the activities of Joint Stock Company Bangladesh. Single entrepreneur can open these businesses by taking Proprietorship business Trade License from municipal Authority or City Corporation office in Town or City and for rural area Upozila council or union council. Foreign entrepreneurs can open Jute business / Jute Industries in Bangladesh; it may 100% foreign (investment) own company or Joint Venture Company in Bangladesh. Local and foreign investors jointly establish a joint venture company and fully foreign investor open a business by Foreign Company Registration Bangladesh, treated as a local company.
After receiving Company registration certificate (Incorporation Certificate) from RJSC, we collect Company’s Trade License, Company’s TIN certificate to commence Jute business and for setting up Jute industry has to be needed of the Bangladesh Investment Development Authority (BIDA) permission. If we want to export of raw Jute and Jute goods to Middle East, EU, the US and other global market at that stage, have to collect the Export Registration Certificate (ERC) for exporting jute products. The VAT Registration Certificate (Value Added Tax) is another essential business documents for every kinds of business by deducting VAT at source. The Import Registration Certificate (IRC) is another essential document for Jute Industries when needed to import jute chemicals and machinery from foreign countries.
Increasing international demand for diversified Eco-friendly goods and lifestyle jute products have prompted Bangladeshi jute manufacturers and exporters to produce value-added jute products all over the globe. Jute Industries in Bangladesh is one of the most valuable earning resources of the country and its attractive fashionable goods, environment friendly baggage & packaging products must expand the global market all the way.