Showpiece Industry and Export Promotion

Bangladesh furniture industry and tradeing promotion Thought Piece 2 November 2009 Background The Bangladesh furniture industry is one of the most promising ripening sectors with high export authority. According to a Household Income and disbursement Survey of 2005, the domestic consumption growth rate is nearly 20% and export markets are almost entirely untapped. in that respect are approximately 40,000 furniture SMEs all over the country, employing virtually 180,000 people, turnover is in excess of BDT 100b (GBP 1b). Currently dominated by thousands of small workshops, the furniture sector is in a enactment phase towards industrialization. Simultaneously, there is a small but growth segment of larger firms who are gradually entering the export market. Nevertheless, the furniture sector is struggling to reach its full potential due to various factors inhibiting its growth. Inadequate supply of production engineering and consultancy services, limited access to quality inputs, absence of skilled men and limitations in local and multinational marketing are about of the main problem areas.

The biggest challenges for export include: government identification as a potential export sector, limited export order processing facilities, lack of credibility in transnational markets, uncoordinated association activities and absence of in force(p) initiatives for facilitating foreign carry investment. What constitutes successful exports? Trade fairs have been an effective tool in entering the export market. However, it is in any case important to have an effective promotion strategy and good branding to gain the international attention to Bangladesh furniture. The quality of furniture with proper certification is also very important for export. In order to increase export, pursuance are some of the areas that need to be addressed: change quality, particularly related to finishing and packaging. Improving the image of Bangladesh on the social and environmental issues. Increasing the... If you want to get a full essay, order it on our website: Orderessay

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