90pc of furniture demand met locally

Local furniture makers are meeting 90 percent of the domestic demand, market players said yesterday. “Presently Bangladesh’s market size is around Tk 18,000 crore, of which only 10 percent is being imported,” KM Akhtaruzzaman, chairman of Akhtar Group, told reporters at a briefing at the office of the Export Promotion Bureau (EPB). The EPB organised the briefing to announce the inauguration of a three-day 5th Bangladesh Furniture and Interior Decor Expo today at International Convention City Bashundhara. All of the country’s leading furniture brands and home furnishing companies are participating in the fair that will remain open for all from 10am to 9pm.

The EPB, Bangladesh Furniture Exporters Association, Bangla Kraft, Bangladesh Jute Diversified Products Manufacturers and Exporters Association, and Bangladesh Furniture Industries Owners Association in cooperation with Bangladesh Jute Diversification Centre are organising the show. Businesspeople said the market has been growing despite limitations in the availability of raw materials and high import duty. “We have to import raw materials of furniture paying 50 to 60 percent duty,” said Selim H Rahman, managing director of Hatil Complex.