Retailer H&M Agrees to Bangladeshi Safety Accord

by Nate Wooley | May 13, 2013 11:32 am

Retailer H&M Agrees to Bangladeshi Safety Accord

clothes 300x225 Retailer H&M Agrees to Bangladeshi Safety Accord[1]Two major retailers have signed onto a Bangladeshi safety accord.

The agreement — which follows a recent building collapse that left more than 1,000 dead — was signed onto by both H&M and Inditex, USA TODAY reports[2]. It covers both building and fire safety standards for manufacturing shops in Bangladesh.

Local and international labor groups have pushed for its wider adoption in the wake of the tragedy. It is seen as one step in bringing safety standards to the impoverished South Asian nation, which is the second largest maker of garments in the world but is very lightly regulated.

In a statement, Sweden-based H&M said it was committed to a clothing industry “in which no worker needs to fear fires, building collapses or other accidents that could be prevented with reasonable health and safety measures.”

The agreement — the Accord on Fire and Building Safety in Bangladesh — is already subscribed to by many clothing labels that manufacture in the nation.

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Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2013/05/clothes.jpg
  2. USA TODAY reports: http://www.usatoday.com/story/money/business/2013/05/13/hm-sign-bangladesh-labor-agreement/2154991/
  3. Victoria Beckham to Open Retail Store: http://investorplace.com/2013/04/victoria-beckham-to-open-retail-store/
  4. Ralph Lauren Admits to Bribery, Agrees to $1.6M Settlement: http://investorplace.com/2013/04/ralph-lauren-admits-to-bribery-agrees-to-1-6m-settlement/
  5. CEO Gives Entire $3.6M Bonus to Employees: http://investorplace.com/2013/04/ceo-gives-entire-3-6m-bonus-to-employees/

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