The tragic incident of the Rana Plaza collapse has put Bangladesh apparel industry in a very dire situation for the irresponsible action of both factory and building owner and such failure must be tried quickly according to law and should act as a deterrent, said a leading chamber on Wednesday. “Therefore, the four main stakeholders – the government, suppliers, buyers and workers – must work together to develop a long-term implementable strategy to realize the potentials of Bangladeshs readymade-garments market,” according to the editorial of the current ICCB News Bulletin (April-June 2013 issue) of International Chamber of Commerce-Bangladesh (ICCB).

The owners and the government, on the other hand, may consider setting up a foundation to provide support to the garment workers and their children for education, health care including the victims who are otherwise incapable of earning their living, it said.

The exiting 5,400 factories could make yearly contribution of Tk 100,000 for the Foundation.
Nobel Laureate Prof Mohmmad Yunus said the Social Business Team has suggested that if the buyers agree to pay a little extra for a HAPPY WORKERS TAG; the proceeds could be utilised for ensuring workers health, dormitory, pension, provident fund, childrens care facilities etc. The idea deserves serious attention of the buyers.
The tragic incident of the Rana Plaza collapse at Savar that killed some 1,127 people last April shocked the entire world.

The collapse came five months after 112 garment workers who died in a fire in another factory, Tazreen Fashion.
The buyers are now pressing for safe work places, higher wages, right to trade union and other conditions for compliance.

The Savar incident was widely covered worldwide largely because of Bangladeshs position as the number two apparel exporter in the world.

Following the event, many international NGOs as well as consumers campaigned for restricting purchase of Bangladeshi garments until the factories ensure workers safety and labour rights.

In view of the pressing demand, the situation has been improving everyday but it needs comprehensive attention on the part of the owners, regulators as well as buyers in order to achieve the desired results.
However, to bring about the changes to the required standard it will take some time where the owners, buyers and workers must work in close cooperation.

The strength of the countrys apparel sector is well understood through its ability to supply high-end items to famous global brands.

Currently, more than 30 per cent of total RMG export is high-end products. The sector generates a total of $21.5 billion in exports, employing more than 4 million workers dispersed among 5,400 factories, most of whom are rural poor women.

Currently, the sector accounts for 80 percent of exports and contributes 16 percent to GDP.
After the recent shock, the garment manufacturers hope that instead of deserting the Bangladeshs apparel sector, the Western buyers should provide resources and financial support and work together to make Bangladesh factories more compliant.

Bangladesh is one of the few places in the world that has enough workers, manufacturing capacity and experience to provide what retailers demand: high volume, low prices and good quality etc.

Thus, it is of immense hope that most retailers will stay and work for changing working conditions and ensuring safety; the factory owners must come forward and take the initiative too.

According to McKinsey & Company, Bangladeshs apparel exports will reach $36 billion by 2020.
Analysts believe that the countrys potentials are even greater as the present yearly global apparel export is US$412 billion and Bangladeshs share is only 4.8 per cent.

The EU and the US are the two largest importers of Bangladeshi garments, which accounts for 86 percent of the total exports representing only 6 percent of their total apparel demand. Whereas, China meets 30 percent of total apparel demand of the EU and the USA.