ASK Trade and Exhibitions Pvt Ltd, Futurex Trade Fair and Events Pvt Ltd are jointly organizing the two three-day international trade shows
Indian Deputy High Commissioner in Dhaka Bishwadip Dey on Thursday urged Bangladeshi and Indian companies to tap opportunities in Bangladesh’s construction and furniture sectors.
He also highlighted the provisions of duty-free and quota-free access for Bangladeshi products to Indian market.
Citing India's $8 billion line of credit for various infrastructure projects in Bangladesh, Bishwadip said: “I urge both Indian and Bangladeshi companies to take advantage of the opportunity."
He was addressing the opening ceremony of the fifth edition of Bangladesh Buildcon International Expo and the fifth Bangladesh Wood International Expo 2019 held at International Convention City Bashundhara in Dhaka on Thursday.
The expos, which will remain open to visitors from 11:00am to 8:00pm, will continue till Saturday.
“Bilateral trade (between Bangladesh and India) has crossed $10 billion mark,” the deputy high commissioner said, attributing it to the provision of the duty- and quota-free access of Bangladeshi products to Indian market.
ASK Trade and Exhibitions Pvt Ltd, Futurex Trade Fair and Events Pvt Ltd are jointly organizing the three-day two international trade shows.
A total of 250 exhibitors from 10 countries including China, India, Turkey, Hong Kong, the US, Sri Lanka, Austria, Malaysia, Italy and Bangladesh are participating in the events.
In the two expos, 3,000 products are being exhibited, including, materials, equipment, machinery and technology related to building, construction, roadways along with woodworking machinery for furniture production, hardware and tools, fittings and fixtures, laminates, boards, coating, abrasives and adhesives.
Speaking as chief guest, Bishwadip said Bangladesh currently exported goods, especially apparel products, worth $1 billion to India.
The trade and commercial ties between the countries became stronger in the last 10 years, , he added.
Indian exports stood at $9.2 billion and imports stood at $1.04 billion, according to the deputy high commissioner.
Meanwhile, KM Akhtaruzzaman, chairman of Bangladesh Furniture Exports Associations, said: “Our company fulfilled the local demand with quality and design.”
“The furniture sector's growth rate is currently 28%, with 25 lakh involved at 35,000 companies in the country. The sector also fetches Tk25,000 crore in annual turnover,” said Akhtaruzzaman, also chairman of Akhter Furniture.
Tipu Sultan Bhuiyan, managing director of ASK, said: “We are trying to boost woodworking and furniture sector by modernizing and improving productivity and quality with exposure to latest machinery, equipment, tools, and materials.”
Among others, Abu Yousuf, chairman of Furniture Sector Industry Skills Council Limited; Prem Anveshi, managing director of Futurex Trade Fair and Events Private Limited; and others were present in the inauguration ceremony.