FE Report
The country's furniture makers Saturday urged the government for withdrawal of high duty on furniture and home decor raw materials import to sustain their competitiveness in the global market.
"Despite huge potential of becoming the country's second largest export earner, the furniture and interior decor sector is losing its competitiveness in the global market due to high duty on raw materials," Selim H Rahman, president of Bangladesh Furniture Industries Owners Association (BFIOA) said.
Though the government provides 15 per cent cash incentives against the export proceeds of furniture, the support could not make the exporters competitive as they have to pay up to 104 per cent duty on raw materials, he explained.
He was speaking at a meet the press to brief on a four-day 'Bangladesh Furniture and Interior Decor Expo-2018' that begins today (Sunday) in the city.
Export Promotion Bureau (EPB), Bangladesh Furniture Exporters Association, Bangladesh Handicrafts Manufacturers and Exporters Association, Bangladesh Jute Diversified Products Manufactures and Exporters Association and Bangladesh Furniture Industries Owners Association in collaboration with Jute Diversification Promotion Centre are jointly organising the expo.
The Expo aimed at showcasing the strength of the country's furniture and home furnishing sectors to both global and local buyers.
Commerce minister Tofail Ahmed is expected to inaugurate the event at International Convention City Bashundhara in Dhaka.
Organisers said that a total of 19 companies including 10 furniture and 9 home decor is taking part in the expo.
Mr Selim, also the managing director of HATIL Furniture, said that China is shifting from furniture business to hi-tech due to higher production cost and Bangladesh can take the advantage of this situation with an enabling policy support from the government.
Vietnam and Indonesia have already started taking benefits from this opportunity, he noted.
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