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Furniture Exporters Seek Duty Cuts and Bond Facility

Rtv News

  24 Oct 2024, 16:25
Photo: Collected

The furniture industry is considered a promising sector in Bangladesh. However, it remains dependent on imported raw materials.

Due to high import duties and a lack of quality raw materials, the country struggles to export furniture at competitive prices. As a result, the industry has not developed as expected. The Bangladesh Furniture Exporters Association has called for the withdrawal of customs taxes and the introduction of bond facilities to make the sector export-oriented.

These demands were raised at a meeting held at the Export Promotion Bureau (EPB) office on Wednesday (October 23) to discuss the opportunities and challenges of exporting Bangladeshi furniture. EPB Vice Chairman Md Anwar Hossain presided over the meeting, with EPB Director Abu Mukhles Alamgir Hossain also in attendance.

Industry entrepreneurs noted that international demand for Bangladeshi furniture is rising, but the sector cannot meet quality expectations, limiting its growth. They emphasized that high customs duties are the biggest obstacle to furniture exports. With supportive government policies, the sector could generate more employment.

Entrepreneurs further highlighted that since Bangladesh does not produce essential raw materials for furniture, these must be imported. While raw materials for other export-oriented industries enjoy zero-duty facilities, furniture manufacturers face full duties and taxes. This raises production costs and market prices, reducing competitiveness.

The Furniture Exporters Association urged the government to remove or reduce supplementary and regulatory duties on raw material imports, offer bonded warehouse facilities, and ensure certified wood supplies.

Prominent figures at the meeting included Kawsar Chowdhury, Director of the Bangladesh Furniture Exporters Association; Salim H Rahman, MD of Hatil Furniture; KM Aktaruzzaman of Akter Furniture; A Karim Majumder of Nadia Furniture; and Elias Sarkar of Brothers Furniture.

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