Two democrat factors could boost thai exports

Those two positive factors would drive Thai exports higher than earlier pessimistic predictions, they said.

Somsak Srisuphornvanij, president of the Thai Weaving Industries Association, said that if both the new US president, Barack Obama, and the Democrat Party's chief, Abhisit Vejjajiva, could lead their countries out of economic crises, it would restore confidence in both the internal and external markets.

"It will help exports of the Thai textile and garment industry to grow by 10 per cent next year, compared with the previous projection of 5 per cent," he said.

The textile export industry had already expected growth to remain in the positive column next year thanks to the pioneering of new markets, including Africa and the Middle East, and taking advantage of lower tariffs in bilateral free-trade agreements with trading partners, particularly Japan.

The melamine-residue problem in Chinese goods and food has also caused orders to come the Kingdom's way.

This year the textile and garment export business is expected to enjoy growth of 5-7 per cent to US$7.2 billion (Bt261 billion).

"Manufacturers in the industry have no plans for lay-offs. In fact, they still need at least 100,000 workers to meet export demand," he said.

Meanwhile, Kunyapak Tantipat-pong, vice president of the Food Industries Association, said food exports would drop by 5 per cent this year after increasing 30 per cent to Bt800 billion last year, due to falling global prices.

In particular, rice prices are heading south as India, China and Vietnam turn to focus on the export market again after halting shipments to solve their food shortages this year.

An energy-saving expert development project has been drawn to strengthen both the food and textile industries through energy savings in processing, she added.