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 stated 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 percent in the coming year.
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.
It was emphasized throughout the seminar that domestic exporters should take advantage of JTEPA and the ASEAN Free Trade Area for moving its economical growth a step further.
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 2, 5 or 10 percent, the export value would reach $641 million, $1.6 billion, and $3.21 billion, respectively.
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 percent in the coming year.
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.
It was emphasized throughout the seminar that domestic exporters should take advantage of JTEPA and the ASEAN Free Trade Area for moving its economical growth a step further.
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 2, 5 or 10 percent, the export value would reach $641 million, $1.6 billion, and $3.21 billion, respectively.
