A file photo of workers at a garment factory in Tak. Mr Yotsaton wants the government to address the industry's labour shortage of roughly 40,000 workers.
The garment industry should prioritise R&D and target the premium market to remain competitive amid global trade pressures, says an industry veteran.Yotsaton Kijkuson, adviser to the Thai Garment Manufacturers Association, told the Bangkok Post the key to the industry's survival lies in moving away from price competition and focusing instead on higher-value, premium garments.
Roughly 90% of Thai garment exports are produced under original equipment manufacturer contracts, which yield slim profit margins of only 5-7%.
He suggested Thai garment producers follow the Italian model by pivoting towards the premium segment, which prioritises craftmanship over low prices.
"This shift is necessary as Thailand's labour costs are no longer competitive compared with neighbouring countries," said Mr Yotsaton.
