The trend for Thailand’s garment and textile industries begins to pick up with a chance to help recover national economy if the Covid crisis is turned into opportunity. The latest statistics from the Garments Industry Club, The Federation of Thai Industries, indicate that the textile industry has already recovered from the previous year by 70%, and is expected to expand by 10% in 2022. The group’s president Mr. Yuttana Silpsarnvitch has recommended the developments of four product categories that could help entrepreneurs turn the tide during this crisis which include: 1. Medical textiles 2. Sportswear with innovative health-related innovations 3. Technical and functional textiles with special properties such as fire or scratch-resistance features; and 4. Textile that corresponds to the trend of bio-circular-green (BCG).
Currently, the value of Thailand’s textile and garment exports is over 2 billion baht per year. Of this figure, textile accounts for 1.1 billion baht while garments accounts for 0.9 billion baht. The group has proposed the collaboration among the public and relevant private sectors to subsidize the R&D as well as quality testing for garment and textile entrepreneurs as this could help drive exports of the whole group to at least 0.5 – 1 billion baht within 2-3 years, and may reach up to 3 – 4 billion baht within 3-5 years.*
Every cloud has a silver lining. Let’s enhance Thailand’s textile and garment while meeting potential customers and empower your business advancement at “GFT” – an event with a comprehensive offer on technologies and solutions, up-to-date knowledge, and trade network expansion to add on to business excellence without limit.
