Foreign buyers shun gift fair

Housewares association president Supat Sriwannavit yesterday said that even before the announcement of the state of emergency for Bangkok, his association had forecast damage of Bt5 billion, as reflected in a lower sales estimate compared to previous projections, due to buyer cancellations. Buyers are still contacting the association inquiring about the local political situation.

The decision by Prime Minister Samak Sundaravej not to step down or dissolve Parliament is having serious political implications. About 80 per cent of buyers who had pre¬viously expressed their intention to attend the fair have pulled out.

Twenty per cent of space remained available for the fair, he said, adding it was difficult to rent it out to Thai manufacturers. Meanwhile, small and mediumsized enterprises will like¬ly reconsider joining the fair, with higher expenses prompting them not to attend.

It costs Bt33,000 to rent 9 square metres at the fair, excluding decorating expenses, which is expected to exceed Bt100,000 per booth.

Supat said buyers were simply likely to move on to Hong Kong or mainland China, which are organising similar fairs.

The association has lowered its export revenue growth estimate for lifestyle products, from 810 per cent to 58 per cent. Last year, lifestyle product exports were worth Bt45 billion.