Bashir calls for innovation drive in furniture sector
City Desk:
Commerce Adviser Sk Bashir Uddin today strongly urged entrepreneurs in the furniture sector to prioritise innovation, utility creation, and product diversity.
“The goal should be to create products whose high value encourages consumers to save money specifically to purchase them, generating enthusiasm among shoppers,” he said.
The adviser made the remarks while speaking as the chief guest at the inaugural session of the five-day ’20th National Furniture Fair 2025′ at the International Convention City Bashundhara (ICCB) in the city, reports BSS.
The country’s largest furniture industry event began under the slogan ‘My country, my hope-let’s decorate homes with local furniture.’
Organized by the Bangladesh Furniture Industries Owners Association (BFIOA), this year’s exhibition is being held on a larger scale compared to previous years.
In his address, Bashir Uddin highlighted the sector’s potential and called upon entrepreneurs to increase investment for the furniture industry’s development.
He urged stakeholders to consider how quickly the nation can secure a place in the global furniture market by efficiently utilizing opportunities and combining available resources. The commerce adviser, however, stated that the government inherited a deeply challenged economy marked by economic wounds resulting from 16 years of prior mismanagement.
“When the current government took charge, the country’s reserves were sufficient to cover only one month of imports, and the banking system carried a liability of approximately $6 billion in unpaid invoices,” he added.
He proudly noted that the economy has successfully rebounded, with reserves now standing at approximately $32 billion. While this recovery provides assurance, he admitted that these reserves have yet to translate into the level of economic activity required to generate significant investment and employment.
He further projected that the investment climate is expected to improve by late this year and early next year.
He concluded by acknowledging the furniture industry’s journey and capacity but warned against complacency, noting that “there is no scope for self-satisfaction” and that the sector must strive for diversity in product, price, aesthetics, and usability.