Thai textile, garment sector competitive, growing despite liberalisation: FTI

BANGKOK, July 4 (TNA) – Thailand's textile and garment industry is
continuing to maintain and improve its competitive role in the world
market despite challenges from many countries which have already upgraded their industries, according to the Federation of Thai Industries (FTI).

This year Thailand will see export growth in the sector by almost US$8 billion, despite the serious and growing challenge of other countries to Thailand's producers.

Speaking after presiding over the opening ceremony of GFT 2008, FTI vice chairman Mungkorn Thanasarnslip said that Thailand's garment, fabric and textiles industry could earn the country increasing revenues each year.

As the 15th Thai-based international textile sector exposition GFT 2008 -- Garment Fabric Textile 2008 -- the event connects machinery, tools and equipment producers, with suppliers of raw and prepared materials, supplies and accessories for the world's garment, textile and fashion industries.

A key industrial sector for Thailand, Mr. Mungkorn said, the industry had provided new employment for one million workers in the country.

Being held July 3 to July 6, GFT 2008 has attracted exhibitors including Thai and international manufacturers, suppliers, distributors, exporters and agents of foreign companies in the garment
and textile industries.

In 2008 the Thai government targeted increased exports of textiles and garments by 8 per cent to US$7.61 billion.

The United States remains Thailand's top textile export destination with a total value of $2.1 billion or 31 per cent of the market share, the European Union ranks second with a value of $1.35 million or 20.3 per cent, followed by ASEAN with $578 million or 10.88 per cent and Japan with $400 million or 5.89 per cent.

ASEAN is comprised of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.