Thai textile and garment industry is likely to see 10-15% growth in exports on the back of new initiatives taken by the Thai government.
Thai Textile Manufacturing Association stated that the textile and garment industry is expected to witness 10-15% growth in exports in 2010, as per the news published by
The Nation.
In 2009, the industry witnessed a decline of 13% in its export value due to the economic uncertainties prevailing worldwide. The decline in purchasing power of key import markets such as Japan and the US also contributed to the fall in Thai textile and garment exports.
With the global economy appearing to recover, Thai textile exports seem promising for 2010. The growing opportunity in the region has led to the growth projection for 2010. It is noteworthy that to ensure the growth of the textile industry, Source Asian Full Service Alliance was established as a result of joint endeavor of all ten-member nations of the ASEAN Federation of Textile Industries and ASEAN Competitiveness Enhancement.
The aim of this 3-year initiative is to facilitate the effective relation between local producers and buyers – both within the region and in the world. In this way, it aims to promote the capacities and regional cooperation of ASEAN to cater to the global needs.
Apart from this, the growth of the Thai industry could also be credited to continued product development as well as better quality assurance, which were highly trusted by the international buyers. Also, the industry is benefiting from cheap labor – all because of the plants at the country’s border with Myanmar that employs Burmese workers.
Human resources, particularly Thai fashion designers, who are famous for producing season-oriented, trendy collections, are among the other important factors contributing to the growth of the Thai textile industry. With the establishment of Asian Designer Club and Thailand Designer Club, the country’s designers will be able to reach the international platform, thereby further developing the human resources.
According to a Research Analyst at
RNCOS, “Although there are a host of opportunities for the Thai textile industry, it is facing stiff competition from countries such as Mexico, Eastern Europe, China and Cambodia. Therefore, to remain ahead in this competition, Thailand should increasingly focus on upgraded manufacturing process, trend setting, strategic branding, on-trend designs and better distribution network.”
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