Furniture industry valuable foreign exchange earner

Ramani Kangaraarachchi

There is a huge opportunity for Sri Lanka to explore the furniture industry and earn valuable foreign exchange if the right networking and processes are in place said Rainco Group Managing Director Fazal Fausz at a media briefing at Cinnamon Lakeside yesterday.

He said this on the occasion of opening of their flagship store for furniture ‘Meubel House’ at Jawatte Road.

Fausz said Sri Lanka is gifted with abundant natural resources and has some best soft wood and hardwood timber in the region, particularly Teak and Mahogany.

There is an emerging export market specially in the region while the local market also continues to grow.

The craftsmen who are the descendants of generations in the industry are capable of the finest woodcraft. However the majority of the furniture manufacturers are small scale entrepreneurs who work with limited resources, using hand tools therefore it has not expanded to the maximum possible levels, he said. With the opening of global markets Sri Lanka also should look at Forest Stewardship Council (FSC) certified timber as Sri Lanka’s forests are protected and yet exploited.

Although a few companies and plantations are gearing up it is important to look at this matter as an industry, he said.