In a bid to counter the intense competition from countries like Vietnam and Myanmar in the lower market for textiles, Thailand plans to focus on the upper market with its advantage of innovation in the medical textiles sector.
In this regard, the National Federation of Thai Textile Industries has recently reported that Japan is keen on investing in Thailand for innovative products in this segment. The emerging partnership between Japan and Thailand would make the latter the regional hub of medical equipment and special textiles needed for the healthcare sector.
The recently framed investment promotion policy by the Thailand government is expected to take Thai industries to the next level with specific focus on innovation for value-added products.
The Federation’s Chairman Somsak Srisuponvanit is of the opinion that the government’s policies, based on clusters, will also help the growth of value-added textiles in Thailand, such as disinfected bed sheets used in hospitals.
In a separate development, the Thai garment sector is trying to build trade ties with its Sri Lankan counterpart. Recently, the Lankan authorities had helped send representatives of 25 garment firms from that country to meet their counterparts in Thailand, in a bid to encourage fresh investments. The Lankan authorities, on their end, are also eyeing Thailand as a potential partner, owing to the fact that Thailand is fast emerging as a centre of Asean market, with the recent surge in demand for textiles.
