Thailand targets 13 per cent growth rate for fashion, leather industries

BANGKOK, March 3 (TNA) – Thailand’s Ministry of Commerce has set a growth target of 9-13 per cent for the country’s fashion and leather industries this year.

Permanent Secretary for Commerce Yanyong Puangrat said from the estimated growth rate, the industries are expected to earn more than US$20 billion, 2.24 cent higher from the $17.6 billion reported in 2008 from fashion clothing exports.

The growth rate target is divided into woven products at around 10-12 per cent, clothing at 10-15 per cent, textiles and threads at 10 per cent, and leather at one per cent.

In order to improve the sales potential of Thai fashions and to enlarge the sphere of cooperation on intra-trade among member countries of the Association of Southeast Asian Nations (ASEAN), the Department of Export Promotion (DEP) together with the private sector are to hold Bangkok the International Fashion Fair & Bangkok International Leather Fair 2010 (BIFF & BIL 2010) and Asean Integration Textiles-Apparel-Leather April 1-4 at Muang Thong Thani’s IMPACT Arena under the theme of ‘Look East’.

Mr Yanyong said it would be the first time entrepreneurs of the 10-member ASEAN pact would showcase to the world their potential and abilities in fashion and leather at an event designed to further sustainable growth of both industries.

The event will be presenting the strength and readiness of ASEAN members’ fashion industries, while showcasing interesting activities such as the Thai fabric display, fashion shows and exhibitions, including new partnerships which can be created among participants.

Over 700 entrepreneurs are to participate in the event. Among them, 114 are from other countries of ASEAN, while participants from 37 countries overall have registered to join the fair.

Mr Yanyong added the agreement on ASEAN Free Trade (AFTA), which is already in effect, is likely to quickly boost and expand trade values among ASEAN’s member countries. (TNA)