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Cash Aid By Bangladesh To Boost Furniture Export

Bangladesh: The Bangladesh government is considering giving cash incentives to furniture exporters to help boost foreign currency income reported The Financial Express.

The announcement was made when its Commerce Minister Tofail Ahmed opened a furniture fair in the city - the 4th Bangladesh Furniture and Interior Decor Expo 2015. Ahmed said his ministry has already sent a proposal to the finance ministry, the approval of which is now under process. He said the ministry is placing importance on the sector as there is a potential to earn foreign currency.

The Bangladesh Furniture and Interior Decor Expo 2015 was inaugurated at the city's Jamuna Future Park. The Commerce Minister also said the country's exports are set to reach US$33.0 billion this fiscal year, which was US$ 30.0 billion the year before.

Emaz Uddin Pramanik, Minister for Textile and Jute, Hedayetullah Al Mamoon, Senior Secretary of the Ministry of Commerce, Director General of EPB, Mafruha Sultana, Kazi Akram Uddin Ahmed, President of Federation of Bangladesh Chambers of Commerce and Industries (FBCCI), Shahedul Islam Helal, President of Bangladesh Jute Diversified Products Manufacturers and Exporters Association (BJDPMEA) were present at the programme.

Shubhashish Bose, vice chairman of Export Promotion Bureau (EPB) said the furniture industry, like others sectors, should get cash incentives, which can help increase the export volume. "We hope cash incentives will be allocated within a short period," he said.

Maleka Khan, former Banglacraft president, said the government should give importance to the craft sector. Migration from villages to urban areas for income generating activities can be reduced through the craft industry.

Selim H Rahman, president of Bangladesh Furniture Industry Owners Association (BFIOA), demanded cash incentives, saying the furniture industry is playing a vital role for creating job opportunities.

The exposition was jointly organised by the Export Promotion Bureau (EPB), Bangladesh Furniture Exporters Association (BFEA), Banglacraft, BJDPMEA and BFIOA in collaboration with Jute Diversification Promotion Center (JDPC)

Bangladesh has the long business heritage and available cheap labour, which are the strength to become competitive in international business, organisers said. A total of 50 exhibitors from furniture and home furnishing sector are showcasing their wide array of products like home furniture, office furniture, kitchen furniture, curtain, cushion, quilt, felt products, table mat, mattress, showpiece, table lamp, waste baskets, table runner, carpet, floor covering, different type of decorative items, bed cover, nakshi kantha, laundry basket, tapestry etc.