Japanese firm Marubeni has sold 80% of its textile business in Thailand to its local partner, Saha Group. Currency appreciation and rising inflation has increased pressure on the company and it has struggled to remain competitive in terms of exports.

Having been in business for 40 years, the firm has decided to hand over responsibility of its Erawan Garment Co to Saha, which hopes that sustained demand for textile and garment products will keep the business alive. It believes that the market will recover and that Thailand has the potential to become one of the world’s leading textile exporters.

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