Thailand Enterprises Call For ASEAN Supply Chain

Thailand textile entrepreneurs are calling for the establishment of an ASEAN supply chain.

KositPanpiemras, executive chairman of Bangkok bank, said that Thailand's industry should cooperate to develop a strong supply chain, which is something that the private sector can achieve.

At a trade seminar organized by the Thailand textile society, he pointed out that China reorganized the textile industry according to its twelfth economic development plans.

China's goal is to pform its export power into an export power and maintain its export competitiveness and employability.

Higher labor wages have reduced China's export potential, but China has set up an export target of two figure growth.

Many countries in the world are trying to maintain core industries and create jobs in China.

Dr Kosit said that the minimum daily wage will increase to 300 baht next year, which will probably affect the cost of production.

Therefore, Thailand entrepreneurs should seek to form alliances with ASEAN partners in order to join the supply chain.

In the first 7 months of this year, Thailand's textile exports amounted to US $4 billion 980 million, an increase of 19% over the same period last year.

Total exports amounted to US $7 billion 680 million in 2010.

The textile industry employs 1 million workers.

Mr. Virat said that with the strong growth in Asia, this year

ASEAN and Asian markets are expected to take the place of the US and European markets by 2016, because the economic crisis has reduced the purchasing power of the two traditional markets.