The Export Promotion Bureau and the Government of Bangladesh have included furniture in their priority sectors and thus extending support for the development of this industry.
As economies in other soft furnishing exporting countries such as China, the Philippines and Vietnam shifted to more industrialized methods of production, creating rising returns to labor, the soft furnishing industry in Bangladesh is ideally placed to compete with lower priced products, as labour costs remain comparatively low. Soft furniture exporters in Bangladesh are experiencing steady growth in sales to Japan, the European Union, and the USA. At the same time, untapped markets remain within those regions, especially for the growing “green consumers” of bio-degradable and naturally based products. Further markets exist in the Middle East – an area yet to be explored by Bangladesh exporters.
Hence it is evident that different stakeholders are looking in to the sector as potential profitable market and that can facilitate greatly the growth rate, ultimately benefiting the small manufacturers, household carpenters, craftsmen and labourers. |
