EPB to build strong furniture sector to widen export market
Shah Alam Nur | Sunday, 27 February 2011
Shah Alam Nur
The Export Promotion Bureau (EPB) has planned to build a strong furniture sector in order to widen its export market. "We are working for the development of the country's furniture sector that has a potential foreign market," said EPB Vice-President Jalal Uddin Ahmad. "We will organise more trade shows for furniture manufacturers to explore new international markets and facilitate its exports," he told the FE. Mr Jalal said, "We will complete a proposal for the furniture market as soon as possible which will be sent to the finance and commerce ministries for approval." "The sector has a lot of scope to earn a sizeable amount of foreign currency; that's why we want to work for the furniture makers," he added. EPB data shows that Bangladesh planned to fetch US$ 2.35 million from the furniture sector in FY 2010-11. Out of the target, the country has fetched $ 0.79 million in first seven months of the current fiscal year. According to the EPB, the sector is growing by 20 per cent a year and it needs some steps to reach its goals. The EPB data also shows that the country earned $ 1.38 million from furniture exports in FY 2009-2010, $ 3.0 million in 2008-09, $ 2.4 million in 2007-08, $ 1.8 million in 2006-07 and $ 2.2 million in 2005-06. The industry constitutes about 41,560 enterprises which have generated employment opportunities for 180,000 people, both skilled and unskilled, according to the Bangladesh Furniture Industry Owners Association (BFIOA). As per BFIOA, there are 121 clusters of furniture companies across the country, of which 93 are micro and small, 17 medium and 11 large. The bigger clusters are mostly located in Dhaka and Chittagong. In the furniture market, Otobi is playing as the leader while Akhtar Furnishers Ltd, Navana Furniture, Hatil, Partex Furniture are other major players. Akhtar-uz-Zaman, director of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and chairman of Akhtar Furnishers Ltd, said the sector lacks in proper knowledge about global trend in furniture design and competitiveness. "We will employ consultants to the sector for its sustainability and make it competitive in the international market," he mentioned. Talking to the FE, Akhtar hinted at the lack of government supervision to make the sector a potential one.
The Export Promotion Bureau (EPB) has planned to build a strong furniture sector in order to widen its export market. "We are working for the development of the country's furniture sector that has a potential foreign market," said EPB Vice-President Jalal Uddin Ahmad. "We will organise more trade shows for furniture manufacturers to explore new international markets and facilitate its exports," he told the FE. Mr Jalal said, "We will complete a proposal for the furniture market as soon as possible which will be sent to the finance and commerce ministries for approval." "The sector has a lot of scope to earn a sizeable amount of foreign currency; that's why we want to work for the furniture makers," he added. EPB data shows that Bangladesh planned to fetch US$ 2.35 million from the furniture sector in FY 2010-11. Out of the target, the country has fetched $ 0.79 million in first seven months of the current fiscal year. According to the EPB, the sector is growing by 20 per cent a year and it needs some steps to reach its goals. The EPB data also shows that the country earned $ 1.38 million from furniture exports in FY 2009-2010, $ 3.0 million in 2008-09, $ 2.4 million in 2007-08, $ 1.8 million in 2006-07 and $ 2.2 million in 2005-06. The industry constitutes about 41,560 enterprises which have generated employment opportunities for 180,000 people, both skilled and unskilled, according to the Bangladesh Furniture Industry Owners Association (BFIOA). As per BFIOA, there are 121 clusters of furniture companies across the country, of which 93 are micro and small, 17 medium and 11 large. The bigger clusters are mostly located in Dhaka and Chittagong. In the furniture market, Otobi is playing as the leader while Akhtar Furnishers Ltd, Navana Furniture, Hatil, Partex Furniture are other major players. Akhtar-uz-Zaman, director of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and chairman of Akhtar Furnishers Ltd, said the sector lacks in proper knowledge about global trend in furniture design and competitiveness. "We will employ consultants to the sector for its sustainability and make it competitive in the international market," he mentioned. Talking to the FE, Akhtar hinted at the lack of government supervision to make the sector a potential one.