TGMA optimistic over Japan trade deal to boost textiles
27 May '06
1 min read
Thai garment industry is optimistic that the trade negotiations between their country and Japan though concluded yet, not formalised, as the new Thai Government not in office so far.
According to Sukij Kongpiyacharn, the Vice-President of the Thai Garment Manufacturers Association (TGMA), garment manufacturers sought technological assistance from Japan in order to improve their industries which the latter agreed after much deliberations.
TGMA seeks close assistance from Japan in logistics and supply chain management.
If signed, the agreement will help TGMA enhance export value of textiles and garments by over 50 percent.
However, looming uncertainty in the political scape of Thailand may pour waters over TGMA's aspirations as Japan may find willing partner in Vietnam, opined Sukij.
This eventually could erode Thai market share in Japan, even as Vietnamese goods have begun their march with capture of its (Thai) share of the US market, in textiles and garments sector.
marketing@alchempro.com
