BANGKOK: Japan is in process of importing more textile and garment from the country as it doesn’t want to only count on imports of the products from China, Tienchai Mahasiri, Advisor to the Federation of Thai Industries (FTI)’s Textile and Garment Industry Club said here on June 25.
Further the new government has been urged to go ahead with the opening of the planned free trade area (FTA) with Japan to tap the opportunities available from the trading rival countries.
Japan has invested more in the textile and garment industry in the country; whereas China has up to 90 percent market share of textiles and garments in Japan.
Mr. Tienchai further said that the private sector from the country wants to see the FTA be implemented soon because it could encourage trading partners and importers to buy more Thai products.
He also noted that the Thai-Japanese FTA agreement will not only help increase the product sale, but also result in an investment base shifting from Japan to Thailand.
Currently there is wrong understanding in the market that the country would lose an advantage from the FTA agreement; but government confirms that the planned FTA pact would provide the country with more trade and investment opportunities.