Dhaka, May 21 -- After a promising jump in FY22, Bangladesh's furniture exports dipped significantly last year on market competitiveness. However, local manufacturers believe they can still turn the tide within the next five years and propel earnings as high as near to garment shipments.

To compete more effectively with global peers, they say all they need is a bonded warehouse facility to offset the high import duty on raw materials, which currently ranges from 55 per cent to 100 per cent.

"We are now looking to secure a larger pie of the global market, but our products are priced out of competition," said Salim H Rahman, chairman of the Bangladesh Furniture Industries Owners Association.

Mr Rahman, who is also the chairman and managi...