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Bangladesh demands fair prices from US and EU brands

Recently Bangladesh Commerce Minister Tipu Munshi and Bangladesh High Commissioner to the United Kingdom Saida Muna Tasneem demanded fair prices for garment exported to the USA and EU as the local apparel exporters spend billions of dollars to strengthen workplace safety leading to an increase in the cost of production.

Of the top 11 LEED-certified factories in the world, 8 are from Bangladesh. These eight are “Platinum” rated, which is the highest category that can be reached under this globally recognized certification. 20 factories are in the LEED Platinum category and 40 are in LEED Gold. Indeed, there are 73 Bangladeshi LEED Green garment factories certified by the USGBC. There are some 320 factories in the pipeline waiting for LEED certification.

Recently Bangladesh government increased its workers’ minimum wage to 51 per cent. All of these have increased the production cost by almost 20 per cent in the last few years.

Bangladesh continues to offer products at reasonable prices. For the last few years, the country has been offering value-added products. However, continuous pressure from buyers is slowing down manufacturers’ growth.