Thai furniture exports likely to grow 10% in 2016

NONTHABURI, THAILAND, March 9 (TNA) - The Ministry of Commerce expects that Thai furniture exports should grow by 10 per cent year-on-year this year. Malee Choklumlerd, Director-General of the ministry's Department of International Trade Promotion, made the assessment on Wednesday while opening the Thailand International Furniture Fair (TIFF) at the IMPACT Trade and Exhibition Center in Muang Thong Thani on the outskirts of Bangkok on Wednesday, organized by her ministry and the private sector. Malee pointed out the US economy has been recovering and China's purchasing power remains; therefore, orders for Thai furniture should increase. Malee predicted that the value of Thai furniture exports should stand at 1.16 billion US dollars this year, a 10 per cent year-on-year increase. According to the senior official, TIFF has continued for 20 years, reflecting the status of Thailand as a regional hub of furniture production and trade. The senior official noted that about 180 local manufacturers participate in the fair to display their products, together with seven companies from Laos, Japan and China. The senior official said that she expected that the five-day fair should attract some 35,000 visitors, and that the fair should result in purchase orders worth about 400 million baht within a year. The fair is opened for business negotiations during March 9-11, followed by retail sales for the general public during March 12-13. (TNA)