Dhanakorn Kasetruwan, Vice President of the ASEAN Furniture Industries Council (AFIC), said Thailand has proposed establishing a timber production zone in the region to improve efficiency, productivity and competitiveness for ASEAN producers before the ASEAN Economic Community is set up.
He added that when ASEAN becomes a single market in 2015 the region will be more open for capital flow, information and labour forces. If regional producers can cooperate with each other and keep prices at competitive levels, total sales revenue in the region will increase.
The AFIC comprises Thailand, Malaysia, Singapore, Vietnam, Myanmar, Indonesia and the Philippines.
Meanwhile, according to the Bangkok-based Kasikorn Research Centre, FDI into Thailand has dropped significantly over the past five years and now equals only 8 percent of total FDI in the ASEAN market.
Singapore led the bloc in attracting FDI, accounting for nearly half the total amount in the region. Malaysia and Vietnam represented 11 percent and 10 percent, respectively, while FDI in Indonesia increased from 13 to 17 percent in 2011.
Japanese investment in Thailand fell 21 percent in the first 10 months of last year, while it rose significantly in Indonesia and Vietnam.
(CPV/VOVNEWS)
