The leather industry of Thailand should start preparing from now onwards and be ready to face increased competition, once the ASEAN Economic Community (AEC) comes into being in 2015, the Federation of Thai Industries (FTI) has suggested.
Mr. Thamrong Thitiprasert, President of the Shoes Industry division of the FTI, said the footwear makers should change their strategies from the current focus on low wage rates to improving the quality of their products, in view of the intensified competition that is likely to occur once the AEC becomes a reality in three years' time.
The FTI representative advised export-oriented manufacturers to explore possibilities of relocating their manufacturing base to countries that have lower wages and other advantages.
For leather factories that cater to domestic demand, Mr. Thamrong suggested that they should also consider exporting their products as the competition in the domestic market is bound to intensify once products from countries like Vietnam and Indonesia freely enter the country.
Fibre2fashion News Desk - India
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