Thailand hopes to develop as a global leader in fashion and textile design by 2030.The Thailand textile and garment industry has set its sights on becoming a fashion hub for the Asean region. Exports to Asia - including China, Hong Kong, Korea and Japan - now account for only half the country’s total exports.
One problem is a shortage of labor. As a consequence, some of Thailand’s biggest garment manufacturers have moved part of their operations to Myanmar and Cambodia and, to a lesser extent Laos, Indonesia, and Vietnam.
To help the textile and garment industry cope with the changing times, an Overseas Trade & Investment Centre (OTIC) has been established to support manufacturers in setting up off-shore operations, and to help OEM (original equipment manufacturer) companies move to ODM (original design manufacturer) and OBM (original brand manufacturer).
The country also boasts the second largest retail market in south east Asia. To support the implementation of the Asean Economic Community (AEC) in2015 - a projected single window common market system - Thailand will do away with import duties for AEC member countries and look to become the gateway to Asean.
Looking ahead to 2020, new opportunities for the country are seen under the theme Redefine Globalization: Balanced life, sustainable living.