Illustrative image (Source: Bangkokface.com)

Bangkok (VNA/NNT) –
The Thailand Centre of Excellence for Life Sciences (TCELS) has signed a MoU with France to develop cosmetics for Asians and attract investors to Thailand.

TCELS Director Nares Damrongchai said that TCELS has cooperated with France's Cosmetic Valley to develop Thai cosmetics’ standards.

The Cosmetic Valley development project will extract Thai natural products, conduct tests and research on them and developing cosmetics for Asian users.

The project will promote technology transfers and exchanges of personnel between Thailand and France and attract more entrepreneurs to invest in the Thai cosmetic industry, he said.

Thailand is already a leader in global beauty industry and its cosmetics market is the largest in Southeast Asia. The thriving cosmetics industry has also given a boost to many related industries, creating jobs and generating incomes. Current health, fashion and lifestyle trends have promoted the growth of the cosmetics industry.

Statistics have shown that Thailand's cosmetics industry makes roughly 250 billion THB in yearly earnings, 150 billion THB of which being from domestic consumption and the remainder from export.-​VNA/NNT