Thailand's corporate gift business grows by 15% in 2012

BANGKOK, November 14 (TNA) - Thailand's corporate gift business is likely to grow by 15 per cent year-on-year in value in 2012; while the country's overall gift trade is expected to reach some 11 billion baht this year. Jirabul Withayasing, Secretary-General to the Thai Lifestyle Products Federation, said on Tuesday that, Thailand's modern trade alone, namely gift baskets, accounts for about 900 million baht annually. Jirabul assessed that Thailand's gift exports this year should increase by 3 per cent, from its total value of 30 billion baht last year, noting that gifts account for one-third of the country's exported lifestyle products, amounting to 90 billion baht yearly. Jirabul acknowledged that there are excessive purchase orders for Thai gifts in the last quarter of this year, thanks to the forthcoming Christmas and New Year festivals, although the exports shrank by 1 per cent over the first nine months of this year. According to the Thai Lifestyle Products Federation chief, markets are now demanding for environmentally friendly and recycled gifts which help save energy and are technologically advanced, but profit margins of Thai business operators are declining due to impacts from global economic problems. Meanwhile, the Chinese government is helping its operators enter Thailand, so are Singapore and Malaysia by introducing their catalogues in Thai, in the lead-up to the ASEAN Economic Community set to be formed by 2015 and Jirabul, thus, urged the Thai government to lend a helping hand to the business. (TNA)