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Baht/$ 34.08/10 (Bid/Ask)
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GOLD |
12,800
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TEXTILES AND GARMENTS
PHUSADEE ARUNMAS
More Japanese-Thai joint ventures in the textile and garment industry are likely as Japanese firms look to cash in on regional free trade pacts, says Dej Pathanasethpong, president of Thai Garment Manufacturers Association.
He said investment opportunities were growing in Southeast Asia for Japanese companies looking to supply their home country, one of the world's biggest garment importing markets.
Interest has increased mainly because of the Japan-Thailand Economic Partnership Agreement (JTEPA) and the Asean-Japan Free Trade Area Agreement.
''Thailand, as the integrated production base for the textile and garment industry from downstream to upstream, offers advantages in drawing foreign investments in this industry,'' he said.
Thailand itself is also now developing networks in the region both in production and fashion products, he said.
One of the industry's biggest regional showcases, the Bangkok International Fashion Fair and Bangkok International Leather Fair 2008 (BIFF & BIL 2008), will take place from Aug 27 to 31 at the Bangkok International Trade and Exhibition Center (Bitec) in Bang Na. The event will be open to the trade industry from Aug 27-29 and to the general public from Aug 30-31
The fair will also feature meetings involving Japan, South Korea, China and Thailand under the Asia Fashion Federation forum.
More than 400 million baht is expected to be spent at the fair.
Wallop Witanakorn, secretary-general of the Thai Garment Manufacturers Association, said some leading Japanese trading firms had expressed interest in partnering with Thai entrepreneurs to develop garment products to supply to the Japanese market.
He said the booming garment industry in China had led Chinese producers to focus more on their home market, which would create opportunities for Thai businesses.
More than 90% of Japan's garment imports come from China, leaving the market open if China switches focus.
According to Mr Wallop, given a shortage of labour in Thailand, more investment expansion by Thai producers was likely in Burma, Laos, and Cambodia.
According to Rachane Potjanasuntorn, the director-general of the Export Promotion Department, Thailand's fashion, textile and garment exports are expected to grow by 5-10% this year from 943 billion baht last year.
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