Mr Kasit Piromya, Thailand's minister of foreign affairs, told reporters in Geneva the economy would bounce back and grow by 4.5% in 2010, a sharp rise compared to the 2.8% contraction in 2009.

Thai exports are expected to surge ahead by 15% in 2010, on projected increases in shipments of goods to vibrant markets in the Middle East, India, and China, among other destinations.

This would compare with an estimated 20% fall in 2009.
Mr Piromya said that efforts in the Thai fashion industry are to be focused on expanding exports in the competitive children's apparel segment and high quality sportswear.

Earlier, Vietnam's Prime Minister Nguyen Tan Dung, told reporters during the Davos World Economic Forum (WEF) that the country's economy would expand by 7%, up on last year's 5.3% increase.

The PM said that inflows of foreign direct investment (FDI) in 2009 reached $21bn, and that total investment in Vietnam in 2009 accounted for 42.8% of gross domestic product - up 15.3% on the year before.

Apparel and footwear is one segment where the South East Asian nation has managed to attract foreign firms with investments. Mr Nguyen was confident his country would not lose out to even cheaper manufacturing destinations in Southeast Asia, but admitted this was a threat.