I believe that Musa Basjoo is an ornamental plant so if you are referring to an application for food forest of sorts than no, it will not produce. I am sorry but I am familiar with manufacture of ropes using banana fiber. I did find this video however of a hand technique to making ropes from the fiber, but the specific species produces a particularly strong fiber. You may want something much more automated and the curing process will have to be ironed out.
If you want to grow banana fruit in the the nontropical north (I assume because this is cold hardy) you will have to use a greenhouse with a dwarf variety of banana. Not all bananas produce edible fruit. Look into North American pawpaw and more specifically cultivars developed by Peterson at http://petersonpawpaws.com/Order.php as these fruit have qualities you may find appreciative and comparable to banana.
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I'm not sure how to go about making cordage, but I know a guy who is growing Musa basjoo for the leaves. He sells them to high end SE Asian restaurants as plate liners. He also sells them to folks from Central America who have a tradition of using banana leaves instead of corn husks for making tamales.
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