2.Unique advantages of the LM region in promoting cooperation in the textile and clothing industry

At present, the global textile and clothing production landscape is undergoing major adjustment, with labour-intensive and relatively low-end processing activities gradually shifting to such regions as Southeast Asia, South Asia and Africa, areas that offer low-cost labour and preferential trade policies. We can identify the unique competitive advantages of the LM region in developing the textile and clothing industry by drawing a lateral comparison between the LM countries and other Southeast Asian countries, as well as countries in South Asia and Africa in terms of both basic conditions and policies. Compared to the other five ASEAN countries, most LM countries are in the development stage of moving up to middle-and high-income status, with much space for the development of the textile and clothing industry driven by abundant and low-cost labour. A regional production network of the industry is taking shape and gradually fleshing out in the LM region, propped up by a stronger foundation for industrial cooperation than in the African region. The LM countries have explicit industrial support policies and development plans, as well as higher labour quality and production efficiency than those of South Asia and Africa. LM countries such as Thailand and Vietnam also offer excellent infrastructure, and better power supply and logistics than those in South Asia and Africa. The people of the LM countries are down-to-earth and hard working, and they share the same culture rooted in stable political environments that are conducive to the investment climate and constitute a unique advantage for the development of the textile and clothing industry.