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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.
Fibre2Fashion News Desk (DS)