A 3-day Bangladesh Furniture and Interior Decoration (BFID) Expo-2014 begins in Dhaka on Sunday next to showcase the variety and excellence of local furniture and home furnishing products and attract buyers from home and abroad.
The fair would be held at Bangabandhu International Conference Centre (BICC), which is scheduled to be inaugurated by Commerce Minister Tofail Ahmed.
Export Promotion Bureau (EPB) of Bangladesh, Furniture Exporters Association, Bangladesh Handicrafts Manufacturers and Exporters Association (Banglacraft), Bangladesh Jute Diversified Products Manufactures and Exporters Association and Bangladesh Furniture Industries Owners Association in collaboration with Jute Diversification Promotion Centre (JDPC) are jointly orgainsing the event.
A total of 51 orgainsations are expected to participate in the fair to display their state of art furniture products, organisers said yesterday.
Earnings from furniture export have seen a 32% rise to over $25m in the first eight months of the current fiscal due to increased demands in the global markets, according to EPB. It was $19.20 million in the same period last fiscal year when the total furniture export stood at $31.41 million.
The figure is 6% higher against its target of nearly $24 million set for the July-February period of 2013-14.
The government has set a furniture export target of about $38m with 20% growth for the current financial year while the total export target set at $30.5bn. “Export earnings from the furniture sector has seen uptrend as the buyers are coming out from the recession,” Firoz Al Mamun, head of marketing and Sales of Hatil Furniture, told the Dhaka Tribune.
“Buyers are leaving China market due to higher production cost, which is another reason for upward rally in export value.”
In the recent months, global retailers including Ikea and Walmart has visited the country and shown keen interest to import furniture from Bangladesh, Firoz said.
At present, the country exports office furniture, metal furniture, seats with metal frames, bedroom furniture, wooden furniture, and furniture of plastic, parts of furniture, mattress supports, sleeping bag and lamp and light fittings to various destinations of the world.