The jewellery sector in Bangladesh holds the potential to be one of the major export-oriented sectors after readymade garments, said the President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Jashim Uddin.
He also called upon the government to provide policy support to the sector and focus on building the capacity of those involved so that the sector can truly flourish.
The FBCCI president was speaking at the assumption of responsibility ceremony of the 2021 – 23 committee of the Bangladesh Jewellers' Association (Bajus) at a city hotel on Wednesday.
"To make the jewellery sector more export-oriented, the focus must be given to technological development as well," Jashim Uddin added.
He also requested the government to eliminate the existing inequality in corporate tax. He said a fixed rate of corporate tax should be established.
"In India, VAT on jewellery is 3% but in Bangladesh, it is 5% and it is causing Bangladesh to fall behind in the competition," he added.
At the event, Managing Director of Bashundhara Gold Refinery Sayem Sobhan Anvir, chairman of the new committee of Bajus, took over the responsibility from Enamul Haque Khan, chairman of the old committee.
The new committee of Bajus consists of 35 members, including seven vice presidents. Earlier on 29 November, the result of the election of Bajus's new committee was announced.