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Related Keywords: Asian Development Bank report, Bangladesh attracted FDI in garments, Bangladesh textile value chain, Chinese textile firms shifting out of China, generated new trade, low cost production, making way to Bangladesh, rising faster than any other Asian countries, SEZ exports

Firms from Singapore, Japan, Taiwan and South Korea, which have traditionally relied on low-cost production in China are seeing Chinese textile firms shifting out of China and making their way to Bangladesh as a result Bangladeshi textile value chain is rising faster than any other Asian countries according to Asian Development Bank.

Related Keywords: boost economic growth, drawn manufacturers attention, establish as leading manufacturing hub, export earning, low cost production, Myanmar to expand textile industry, new national export strategy

With the change in the political scenario, Myanmar is trying to establish itself as a leading manufacturing hub. The ongoing quest for low cost production has drawn manufacturers' attention to the clothing industry in Myanmar.

Myanmar will expand its textile and garment industry under the country's new national export strategy as a means to boost economic growth, with the sector's export earning targeted at $2 billion for the 2015-16 fiscal year.