Gaysorn Land Asset Management Co, the operator of Thailand’s Gaysorn shopping centre, is urging Thailand’s government to review the structure of import duties on luxury fashion and brand name products to increase the country’s competitiveness against Hong Kong and Singapore.
Deputy general manager Satima Tanabe said the import duty for fashion products is 20-30 percent, quite high compared with other countries, meaning higher prices for shoppers.
"Pricing is a key factor for foreign shoppers. The government should have a clear strategy to promote tourism and domestic consumption within the country. Retailers have talked about reducing import duties with many governments, but nothing happens," she said.
(Source: Bangkok Post)