Chairman of the Board of the Sharjah Chamber of Commerce and Industry, Mr. Ahmed Al-Madfa, last week opened the 'Gulf Furniture and Furnishings Exhibition' at the Sharjah Expo Center. Several local and foreign companies participated in the event, Al-Ittihad Newspaper reported.
Mr. Al-Madfa, estimated total investments in the local furniture industry to be valued at DH 400 million, constituting 3.9% of total investments in local industry, which reached DH 5.21 billion last year.
Official statistics revealed that 8 furniture production plants were opened in 1998 in the Sharjah emirate, by funding of DH 22 million. These factories have a combined manufacturing capacity of DH 6.16 million of furniture annually. Currently, 90 furniture factories operate in Sharjah alone.
Furniture imports of Arabian Gulf States exceeded $5.2 billion in 1999. The UAE is the largest furniture importer in the Gulf region, taking in $883 million in furniture last year, followed by the Kingdom of Saudi Arabia, which imported $653 million in furniture in 1999. (DH3.67=$1).
© 2000 Mena Report (www.menareport.com)
