The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Sustainable Textile Initiative: Together for Change (STITCH) signed an MoU at a hotel in Dhaka on 23 August. This MoU will encourage gender-sensitive workplace and make rational price negotiations with brands by using fair price app.
BKMEA and the STITCH consortium have decided to work in collaboration forming and functionalizing Sexual Harassment Complaint Committees (SHCCs) at BKMEA member factories as per the decisions of the high-court.
Ethical buying practices especially price negotiations are crucial issue for safeguarding a sustainable business relation among international brands sourcing from Bangladesh and manufacturers producing for them.
The BKMEA and the STITCH consortium are working together to safeguarding ethical purchasing practices and maintain a sustainable business relation between international brands and manufacturers. To support addressing this issue the BKMEA and the STITCH consortium have agreed to work together in to move forward the discussions on ethical purchasing practices and introduce the Fair Price App in BKMEA member factories.
Fair Price is a realistic, replicable and scalable tool envisioned for suppliers in every country. The tool arrests all elements of labor costs. As such, it empowers factories and brands with the information they need to determine fair (fact-based & bottom-up) prices that are calculated with the actual prevailing labor costs in a factory. Fair Price is a means to an end, namely more transparent costing and shared responsibility between buyers and suppliers to raise wages.
