Thai magnates eye local garment markets
May 12, 2008 - Poland
Its one of the most apt opportunity for Thai businessmen to invest in Poland whose market, especially garment, is depicting high potential.
Poland has recently received a huge capital assistance of US $120 billion from the EU valid from 2007-13. This financial aid will largely be directed to develop the manufacturing and services sectors.
Experts have recognized this phase a transitional period for the economy of Poland and have therefore urged Thai investors to bang on right into exploring the innumerable opportunities that the market has to offer.
Poland’s economy has shown a consistent growth and its GDP is expected to grow by about 5 percent this year. This can be taken as a guarantee that investment in the garment sector of the country is likely to bear fruitful outcome.
Thailand exports to Poland in 2007, reached 14.04 billion baht soaring by 78 percent than the previous year. Imports, on the other hand accounted for 2.4 billion baht of the total expenditure made by Thailand.
Presently, markets in Poland are flooded by cheap garments from China. Thailand can make an attempt to break this monopoly as Thai apparel and jeans were formerly very popular among Polish entrepreneurs.
Even now, there are about 100 Polish customers flying to Thailand for buying children apparels making annual sales reach 900 million baht. Experts believe that kid’s segment can be expanded with the help of investment partners for original design manufacturing (ODM) which focuses on product design rather than production.
A four day Thailand exhibition, first ever in Poland, was held last week as part of an initiative taken by the Commerce Ministry of Thailand to capture Eastern Europe.