Thailand’s textile industry hopes for official assistance in developing new markets
Somsak, president of the Thai Textile Industry Association, said that the association plans to make a request at a meeting attended by Prime Minister Yingluck on the 30th of this month, hoping that the Ministry of Commerce and relevant departments will assist in liaison and promotion to open foreign markets for Thai textiles, especially India, New markets such as Bangladesh, Sri Lanka, Pakistan, South Africa or Japan can make up for the reduction in exports caused by economic problems in major markets such as the United States and Europe.
Songsak believes that if the government takes the initiative to promote it, it will be helpful for Thai textiles to open up foreign markets. Although Thailand’s textile exports experienced a negative growth of more than 10%, the situation has improved. The impact of the devastating floods late last year has been basically recovered. If we get the government’s assistance and cooperation, we believe that Thailand’s textile exports will not experience a negative growth of more than 10% this year, or may have the opportunity to turn into a positive growth of at least 5%, and the export value is expected to reach 7.8 to 8 billion US dollars.
Regarding the European debt crisis that is of concern to all parties, Somsak hopes to have the opportunity to turn the crisis into an opportunity. Because in the past, industries in the Eurozone would focus on purchasing raw materials to produce and sell on their own, so he hopes that the government will attract and promote European manufacturing companies to Thailand. Through joint venture production and cooperative sales, Thai brands also have the opportunity to open up greater sales in the European market. Of course, Thai manufacturing companies should also improve product quality and create their own brands to better explore foreign markets.
Vora, director of the Thai Leather Products Association, said that although the European debt crisis may spread to many countries, Thai companies still have confidence in the quality of their products and believe that there is demand around the world, so there is no need to open up the European market. And the prices of Thai leather products will be significantly reduced. If the government and enterprises both focus on improving product quality and creating Thai brands to enter the international market, it will bring greater added value to Thai products and avoid price competition. At a meeting jointly held with Prime Minister Ying La on the 30th, he will represent the Thai leather production industry and propose suggestions for the government to assist in opening up foreign markets and to support the products of small and medium-sized enterprises in the leather industry to strengthen the opening of foreign markets. It is believed that government assistance can promote the growth of Thailand’s leather product exports. The US market is the largest, followed by Europe.
If the government cooperates in promoting an increase in exports during the rest of this year, I believe that this year’s expected negative export growth of 5% may have a chance to turn into a positive growth of 5%. This year’s total exports of leather products are expected to reach a level of 1.84 billion to 2 billion US dollars, but it needs See if you get strong support and assistance from the government.
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