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RMG

RMG Bangladesh: Unraveling at the seams

All good things have a way of coming to an end-an unpleasant reality that Bangladeshi RMG players might soon be coming face to face with. The illustrious rise of the Bangladeshi textile profile is a case study in itself. The boom has contributed greatly to the country’s economic development; having created millions of jobs and helping drive down the country’s poverty rate. Bangladesh-rmg-workerBut, in recent years, the rapid change has also created new probl...

Apparel orders shifted to other countries: Buyers frustrated

Frustrated foreign buyers have shifted their apparel orders to other countries as violence on Dhaka-Chittagong highway increases amid political unrest. An attack on the transports by the miscreants during blockade, one of them carrying three foreign buyers, in the capital several days ago prompted the buyers to take such quick decision. After tragic death of 1,245 workers in RanaPlaza collapse and fire incident at Tazreen Fashions, the prevailing political unrest and violence have aggravated the uncertainty among the buyers, garment industry entrepreneurs said.

Canada supports ILO initiative to improve RMG conditions

Canada has announced its support for a joint initiative with the International Labour Organization (ILO) entitled “Improving Working Conditions in the Ready-Made Garment Sector” in Bangladesh. Canada’s support for this initiative is helping to ensure that Bangladesh is better equipped to provide safe and healthy employment for its people,” said Christian Paradis, Canda’s minister of international development and minister for La Francophonie. “Stimulating sustainable economic growth is critical to breaking the cycle of poverty, increasing security and encouraging equality”, he said.

Aussie retailers to publish address of Bangladesh RMG maker

Target Australia and Pacific Brands have promised to publish the location of their supplier factories in Bangladesh, in what human rights groups described as a ''watershed moment'' for Australian retailers. Kmart, the first Australian company to pledge full transparency of its supply chain, will publish the location of every Bangladesh factory on Tuesday. Bangladesh-rmg-workerOxfam's chief executive, Helen Szoke, said the announcements would encourage transparency. ''With...

Anguish in RMG sector exist almost whole of 2013

Due to the ongoing political impasse, the country’s RMG sector losses in billions of taka every day. Foreign apparel orders worth $3.96 lakh were cancelled while the exporters spent $3.08 lakh on air shipment during the first three days of the current month, according to the data collected by BGMEA’s research and development team. The research unit collected data from 10 exporters to assess the overall losses caused by the blockade. Many small factory owners may go bankrupt due to failing shipment on time. RMG Rana Plaza

Emerging markets look at ESG issues after RMG blow in Bangladesh

Investors in emerging market companies are looking more closely at environmental, social or governance (ESG) issues before they buy as the Bangladesh factory collapse. Cajoled by developed world governments and shocked by disasters, almost all emerging fund managers in a survey by UK development finance arm CDC to be published this week consider ESG to be integral to their investment strategy, and in many deals they regard it as a “fact of life”. It is a sharp contrast to a few years ago, when emerging market investors saw sustainable strategies as an irritant imposed by worthy multilateral lenders, or “the dead hand of eco-fascism”, according to CDC’s ESG director Mark Eckstein. Once the preserve of religious and ethically minded funds and the development finance arms of major...
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