Leading textile expert optimistic about export earnings

While addressing a seminar on ‘The Future of Thai Textile: How to Penetrate and Maintain Markets under Liberalized Trade Rules’, Permanent Secretary for Thailand textile and garment industry, Mr Chakkramon Phasukvanich said that the sector has the potential to grow enormously largely because of the Japan-Thailand Economic Partnership Agreement (JTEPA).

Moreover, the Government is also on the constant look out for newer markets and this will act as a major factor in expanding the growing textile industry. Mr Chakkramon expects rise in exports by 8%-10% in the year 2008.

Once JTEPA gets implemented, Thai exporters will have an easy access to Japanese markets which in turn would encourage widespread distribution of its domestic products.

The market expansion of Thailand would help develop the country’s economy to such an extent that even if the United States fails to import Thai products in good measure due to the economic slowdown, it would hardly impede its economic growth.

Experts from the industry believe that market share of Thai textile and garments in Japan are likely to procure an addition of US $410 million to the present $30.53 billion. Even if Thailand increases its market share to 5%, the export value would reach $641 million, $1.6 billion.