Bangladesh has urged for increasing prices of its readymade garment (RMG) considering huge investment made by apparel manufacturers that helped improve safety measures and working environment.
"We've modernised the (RMG) factories. We've ensured building and fire safety with an improved working environment in place," Commerce Minister Tofail Ahmed said, reports UNB.
"Owners have invested a lot in these areas but price of apparel products is yet to be hiked. Price needs to be increased urgently," he said.
The minister was addressing the fourth high-level follow-up meeting of the Sustainability Compact in Belgian capital Brussels.
Tofail said the Bangladesh government has amended its Labour Law and the workers are now enjoying their rights better than anytime in the past.
The minister said Bangladesh has taken preparation to avail of GSP plus benefit as the country is marching ahead to become a developed one.
State Minister for Labour M Mujibul Haque, Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) President M Shafiul Islam Mohiuddin and Bangladesh Garment Manufacturers and Exporters' Association (BGMEA) President M Siddiqur Rahman were present.
The meeting, titled 'Five Years after the Launch of the Sustainability Compact: Taking Stock and Staying Engaged', was held at Albert Borschette Conference Centre on Monday.
At the event, progress made under the Compact was discussed as well as what remains to be done, according to European Commission.
The meeting started with an opening address by the EU Commissioner for Trade Cecilia Malmstrom, Tofail Ahmed and ILO's Deputy Director-General for Policy Deborah Greenfield.
This was followed by exchanges on the implementation of the Sustainability Compact among its partners, workers and employers, manufacturers, retailers, representatives from other partners, and civil society organisations.
The Sustainability Compact aims at bringing lasting improvements on labour rights and factory safety in the ready-made garment industry of Bangladesh.
Since its establishment after multi-storied Rana Plaza building collapse in April 2013, the Compact partners have actively engaged in addressing labour, health and safety issues.
They have also engaged in encouraging responsible business conduct by all stakeholders in the country's RMG and knitwear industry.
As part of this process regular follow-up meetings have taken place.
In response to the tragic incident, EU, US, International Labour Organisation and the government of Bangladesh signed the "Compact for Continuous Improvements in Labour Rights and Factory Safety in the RMG and Knitwear Industry in Bangladesh".
The government of Canada subsequently joined in January 2016.
Commerce Secretary Shubhashish Bose and Bangladesh Export Processing Zones Authority Executive Chairman Major General Mohd Habibur Rahman Khan were also present at the fourth high-level follow-up meeting.
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