Zee News, India
Bangkok, July 04: 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 USD 8 billion, despite serious and growing challenge of other countries to Thailand’s producers.
FTI vice chairman Mungkorn Thanasarnslip said Thailand’s garment, fabric and textiles industry could earn the country increasing revenues each year.
A key industrial sector for Thailand, Mungkorn said, the industry had provided new employment for one million workers in the country.
Being held July 3 to July 6, GFT 2014 has attracted exhibitors including Thai and international manufacturers, suppliers, distributors, exporters and agents of foreign companies in the garment and textile industries.
In 2014 the Thai government targeted increased exports of textiles and garments by 8 per cent to Usd 7.61 billion.
The us remains Thailand’s top textile export destination with a total value of USD 2.1 billion or 31 per cent of the market share, the European Union ranks second with a value of USD 1.35 million or 20.3 per cent, followed by ASEAN with USD 578 million or 10.88 per cent and Japan with USD 400 million or 5.89 per cent.
Bureau Report
