JETRO (Japan External Trade Organization) and the Japan Fashion Week Organization held the "Thai Apparel Market Seminar," aimed at small and medium-sized apparel companies aiming to develop sales channels and expand exports in the ASEAN market, centering on Thailand. The three speakers were Isamu Wakamatsu, Director of the Asia and Pacific Regions Division of JETRO's Overseas Research Department; Charnchai C. Wongthanakorn, Vice President of Siam Piat; and Hideaki Kawai of the Brand Creation Business Unit of Itochu Fashion System's Branding Group 2. They spoke about economic trends in Thailand and the ASEAN region, which are expected to grow not only as production areas but also as consumer markets, as well as the fashion market in Bangkok. Kawai explained the current state of Thailand's fashion market, saying, "It's growing steadily. People are stylish, enjoying individual styling, and have a high interest in fashion and a strong desire to consume. The increase in the minimum wage in 2012 has had an impact, causing sewing factories to move to countries like Myanmar and Cambodia, but there is a shift to higher value-added businesses through brand development and other means. There aren't many street or natural casual styles in Thailand, and there are many companies and consumers who are looking for trendy commercial facilities and Japanese brands. There is also potential in men's street style." He then went on to discuss the strategies required for Japanese fashion brands in the Thai market, saying, "There are very few street-level stores in Bangkok, Thailand. Therefore, it is important to partner with developers with excellent commercial facilities, such as the three major companies, Siam Piat and Central Department Group, and the companies that have tenants there. As competition intensifies, the key will be to acquire excellent agents with networks of Bangkok retailers. Thai consumers also have a strong preference for products that have been recognized overseas. Companies visit trade fairs such as Tranoi in Paris, Pitti Immagine Uomo in Italy, and Capsule in New York. For high-end brands, participating in major European and American trade fairs can also lead to entry into Thailand." Chanchai also emphasized, "The middle class currently accounts for 44% of the total population, but this is expected to grow to 70% over the next five years. The retail and fashion markets will continue to expand. Entering Thailand can also serve as an opportunity for companies and brands to promote themselves in the ASEAN region."