As the World Cup fever continues worldwide and Thailand gained attention by being assigned to produce team jersey for 10 teams participating in the tournament, Atchaka Sibunruang, director-general of the Industrial Promotion Department, said Thailand’s exports of textiles and garments this year should grow 3.66 per cent.
Ms Atchaka said there were signs that the business of sport outfits should continue to grow because more people now love to exercise, while Thai manufacturers have been assigned to make football outfits for 10 teams contesting the World Cup.
It was estimated that Thailand’s exports of textiles and garments in 2014 could fetch about US$7.6 billion, up 3.66 per cent from last year, she said.
Wallop Wittanakorn, vice chairman of the Federation of Thai Industries, said that Thai exports to the US and Europe were still positive although Washington has downgraded Thailand’s human trafficking rating.
Mr Wallop said he believed the downgrade would not affect trade connections between American and Thai businessmen.
Suggesting that Thai textile manufacturers ought to further develop their own brands, Yuttana Silpsarnvitch, secretary-general of the Thai Garment Manufacturers Association, said several retailers have gone out of business after their purchase orders were cancelled.
Buyers have switched to purchasing from major manufacturers, said Mr Yuttana, adding that operators are now worrying about the European Union generalised system of preferences which expires next year.