Furniture association expects fair revenue over eight billion kip
Furniture association expects fair revenue over eight billion kip
Over 230 booths of furniture manufacturing companies around the country will be on show in the Lao Wood Furniture Fair 2015 to be held at Lao-ITECC in Vientiane from January 3-11.
The fair aims to develop trade in Lao furniture products and also encourage the industry to be prepared for the Asean Economic Community to start at the end of 2015.
At yesterday's press conference, Vice President of the Lao Furniture Association Mr Kongmala Phommalay told the Vientiane Times that this fair had been held for seven years but previously it had been organised in collaboration with other industry sectors and trade departments.
“This year the fair is being solely hosted by the association and is expected to attract 5,000 to 10,000 people every day and generate 8-10 billion kip from exhibitors and buyers,” he said.
He also told local media that the event will be able to raise the profile of the Lao furniture industry as well as increase the awareness of society of the benefits of using domestic goods.
“It is also an essential step for entrepreneurs in accessing regional and international markets when it comes to preparing for the pivotal year of AEC integration,” he said.
According to Mr Kongmala, almost 10 years ago the association took part in many important exhibitions as well as organising several domestic fairs, allowing the group members to display a variety of Lao furniture at local and international fairs.
Most importantly, the association had already led its members to participate in the China-Asean Expo a total of 11 times.
The Ministry of Industry and Commerce's Trade Promotion and Product Department Director General, Mr Phan Vilaysom, also said that the fair will be able to build business matches between entrepreneurs and help them learn about various regulations and some policies related to AEC principles.
“We currently expect to see the entry of other Asean furniture products in the Lao market ahead of AEC integration which reminds us to be more active in our preparations to compete with them,” he said.
At the fair, there will be a number of business units displaying their wooden furniture, including some tools for furniture manufacture, the saplings of different species of trees and other domestic wooden goods.
The association's members will be required to pay a rent of 2.4 to 2.8 million kip, depending on the facilities and location of the booth, while non-member Lao exhibitors will be required to pay 2.6 to 3 million kip based on the same criteria.
Foreign exhibitors will be required to pay a rent of 4 to 4.5 million kip for the same booth space.
The official opening ceremony of the fair will begin at 3:30 pm on January 5, but booth allocation will start on January 3.
Furniture on display will be available to shoppers ahead of the opening ceremony.
Those interested in exhibiting can contact the association office via telephone number (+856 21) 720 454, (+856 20) 5666 4355 or email lao.furniture.assn@gmail.co.
