CALL FOR MALAYSIA TO INVEST IN BANGLADESH'S FURNITURE INDUSTRY

By Shafiqul Bashar

DHAKA, July 7 (Bernama) -- Malaysia has vast scope to invest in Bangladesh's
furniture industry and both countries will benefit from such investments,
Bangladesh Commerce Ministry's Secretary Firoz Ahmed said Tuesday.

"Malaysian entrepreneurs can set up furniture companies in Bangladesh
through joint ventures or direct investments," he said at the opening of
Malaysia Fitec Furniture Showcase 2009 here.

He said that foreign investors should be able to earn profit with lower
labour cost and the government providing special incentives.

The four-day furniture fair is organised by Malaysia's Furniture Industry
Technology Centre (Fitec) to display the latest Malaysian furniture and
furniture technology from 20 of its top manufacturers.

The event is expected to attract around 1,000 furniture industry players
from the two countries.

"Bangladesh can also be a good market for Malaysian furniture since the
purchasing capacity of our people is growing," Ahmed said.

"The furniture industry is also flourishing in Bangladesh and opportunities
exist to develop this sector where Malaysians can help with their expertise," he
said.

On the trade between Malaysia and Bangladesh, Ahmed said: "During the last
five years the volume of bilateral trade has increased by 82 percent to US$500
million, but it is largely in Malaysia's favour."

He said the trade gap could be reduced through cooperation between the
traders and entrepreneurs of both countries to increase the volume of bilateral
trade.

-- BERNAMA