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Bangladesh Jewellery Expo begins

Staff Correspondent
10 Feb 2023 00:00:00 | Update: 10 Feb 2023 00:25:58
Bangladesh Jewellery Expo begins

The three-day-long Bangladesh Jewellery Expo-2023 began at Bashundhara International Convention Centre (BICC) on Thursday.

Jatiya Samajtantrik Dal (JSD) General Secretary Shirin Akhter and Bangladesh Jeweller’s Association (Bajus) President Sayem Sobhan Anvir inaugurated the expo.

Bajus has organised the expo which will wrap up on February 11.

Speaking at the event, Shirin Akhter said, “I appreciate Bajus for organising such a fair. I hope the sector will go forward. If we want to make the sector an industry, we need to focus on innovative designs.”

“If we can export gold ornaments, our economy will boost further. So, jewellery businesses should be more dynamic,” she added. Jatiya Press Club President Farida Yasmin said ornament ensures the financial safety of women. Women always try to purchase ornaments when they get money.

“It is a big industry. The government should assist the sector properly as around 50,000 people are working here,” she added.

Anvir said, “The sector has a huge economic potential. Rich men and investors should invest in the sector. We do not fix the gold price, its price is fixed internationally.”

He also said, “The price of gold went up to Tk 90,000 from Tk 6,000 per bhori in 20 years due to its growing demand. So, everyone should buy gold and stock to make a profit in future.” There was a scarcity of visitors on the first day of the air. Exhibitors claimed that the Covid pandemic, the Russia-Ukraine war, and the current dollar crisis have affected the county’s economy as well as the purchasing capacity of the people. That is why the number of visitors is not up to the expectation, they said.

The exhibitors, however, hoped that they would get a good response during the weekend holidays of Friday and Saturday, the last two days of the fair.

Bajus General Secretary Dilip Kumar Agarwala told The Business Post, “We received 15,000 visitors last year when the fair was organised for the first time. This year, we expect around 50,000 visitors.”

“We organise the fair to showcase local innovations in gold and diamond products, not only to sell the products,” he said. “There is a huge potential for the export of our jewelleries, but we need policy support from the government to flourish the sector. The NBR should change its current tax structure to ensure the growth of the jewellery industry. An economic zone can be set up for the sector,” Dilip Kumar said.

At present, there are 40,000 jewellers in Bangladesh, he informed.

Manager of Aftab Jewellers Pias Ray said they are offering a free diamond nose pin against purchasing Tk 5 lakh ornaments, and a free diamond ring against buying Tk 10 lakh jewellery in the fair.

Diamond Bazar’s Sales Executive Mohammad Anwar Hossain said his company is offering 15-20 per cent discount on different ornaments.

Salma Begum, a visitor at the fair, purchased a diamond ring for Tk 45,000. “I came here to check prices and found that the price is comparatively lower than the market. So, I purchased it,” she said.

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