Local ceramic cos get spot orders worth $30m in Frankfurt Fair - Share market analysis of dhaka stock exchange, Bangladesh

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07 March, 2013 10:12 AM Source: The Financial Express Bangladesh

Bangladeshi ceramic goods have succeeded in drawing attention of buyers in the Frankfurt International Trade Fair 2013 (Ambiente-2013), Germany which ended recently as local industries fetched spot orders worth US $ 30 million.

Bangladeshi participants secured spot orders for ceramic goods worth US $ 15.0 million last year at the same fair, industry insiders said.

Ambiente Frankfurt Fair is an important show for the producers of kitchen, tabletop, home decorating and furnishing and renovating segments across the globe.

Nearly 5000 companies from more than 100 countries attend the fair every year.

"Export order for Bangladeshi ceramics goods more than doubled this year. Seven local ceramic companies attended the fair," chief operating officer of Shinepukur Ceramics Ltd Rizvi Ul Kabir told the FE.

"Attending the fair is a must for the ceramic industries to hunt new export destinations. Apart from the traditional buyers, we have got orders from new buyers of different countries", he said.

Mr Kabir said that Noritake, pioneer in Japan industrial arena, has shown its interest to import Shinepukur products.

"China-bound buyers are also showing interest in our ceramic goods as they can get various kinds of products from a single company in Bangladesh which is not possible from Chinese companies", he added.

Seven local companies, participated in the fair held between February15-19 were Shinepukur, Paragon, Monno, Faar, People and Standard.

Executive director of Paragon Ceramics Ltd Md Ashekul Alam told the FE that the fair helped lot for their ongoing process to expand export destinations.

He said, "Ceramic products export fully depends on the US and EU countries which are not sustainable as recession has jolted both sides of the Atlantic".

"We are seriously searching for new markets across the globe to ensure a sustainable export," Mr Alam said.

He said they have invited new buyers to visit their ceramic industry and compare the local goods with those of other countries.

"We have received a good number of orders from renowned companies in Japan, Demark and UK. Few orders have also been secured from Latin American countries, Russia and South Africa" he said.

He said they had to pay a higher tariff to export ceramic products to new destinations like Argentina, Brazil, Chile, Uruguay, Paraguay, Russia and South Africa, which is a big barrier for expanding business there.

"The authority concerned should negotiate with the countries to reduce import duty," he said.

Bangladesh exports ceramic products to 50 countries including USA, EU, Australia, New Zealand, Canada, Mexico, Brazil and Chile.

Japan, Denmark and few other countries are going to be added as ceramic importers from Bangladesh soon, industry insiders said.

Ceramic industry, however, added $ 21.63 million at the export basket of the country with a 6.3 per cent growth in the first seven months of the current financial year (FY'13) compared to the corresponding period of the pervious year.

Export earning from the sector was $33.75 million in FY'12, Export Promotion Bureau (EPB) data showed.

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