Economy
BKMEA Urges Diplomacy Over US Trade Sanctions Threat Amid Labor Rights Debate
In a recent roundtable discussion at the National Press Club in Dhaka, Mohammad Hatem, the executive president of the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA), criticized the United States for considering trade sanctions on Bangladesh regarding labor rights issues.
Hatem argued that any concerns should be addressed diplomatically rather than through punitive economic measures. He highlighted Bangladesh’s commitment to international labor standards, emphasizing the nation’s endorsement of all eight core fundamental conventions on workers’ rights, in contrast to the limited endorsements by influential nations like the US, China, India, and Vietnam.
Hatem questioned the moral standing of the US in discussing labor rights, pointing out the differing levels of commitment between Bangladesh and the mentioned nations. He pledged the support of entrepreneurs to the government in dealing with any potential political actions but stressed that there is no justification for trade sanctions.
The president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), Faruque Hassan, echoed these sentiments, emphasizing Bangladesh’s adherence to labor laws and expressing concern over the impact of potential sanctions on the industry.
Faruque Hassan addressed a letter from eight US Congress members urging apparel and footwear importers to raise clothing prices due to the recent 56% increase in wages in Bangladesh. He asserted that adjustments to product prices should be the responsibility of buyers. Despite concerns about the global economic situation and inflation, Hassan expressed confidence in maintaining positive export growth and emphasized the industry’s commitment to a $100 billion export target.
Engineer Md Shafiqur Rahman, president of the Institution of Textile Engineers and Technologists, highlighted the significant progress in the apparel industry since the Rana Plaza collapse, emphasizing improved labor rights and the industry’s positive trajectory.
The roundtable discussion was presided over by Shyamal Dutta, general secretary of the National Press Club, and featured insights from various industry leaders, including Dhaka University professors, business executives, and the general secretary of the Bangladesh National Garments Sramik-Karmachari League, Ruksana Akhter.
Expatriate Bangladeshis sent approximately US$ 2.11 billion in remittances during the first 28 days of September in the fiscal year 2024-25, according to data released by Bangladesh Bank on 29 September.
Of this total, state-owned and specialised banks handled $679.10 million, while private banks received $1.43 billion in remittances.
Chief Adviser to Bangladesh’s interim government, Professor Muhammad Yunus, has vowed to expedite reforms and hold elections swiftly. Yunus, who recently assumed the role after the collapse of Prime Minister Sheikh Hasina’s 15-year administration, expressed his commitment during an interview with Tokyo-based news outlet NHK WORLD in New York on Sunday. He was attending the United Nations General Assembly at the time.
Following mass student-led protests that ended Hasina’s long-standing rule in August, Yunus stepped in as the leader of the caretaker government. Known for founding Grameen Bank, an institution providing microloans to the underprivileged, Yunus, along with the bank, earned the Nobel Peace Prize in 2006 for his efforts in poverty alleviation.
During the interview, Yunus emphasized that the interim government’s primary mission is to implement reforms promptly and ensure elections are held as soon as the groundwork is complete. He underscored the importance of success, stating, “Failure is not something that we can accept.”
Addressing the pivotal role of students in the ousting of the Hasina administration, Yunus acknowledged the sacrifices made by young people, referring to their involvement as part of a “revolution.” He highlighted his intention to engage the younger generation in shaping policy.
Furthermore, Yunus called for continued support from Japan, Bangladesh’s largest donor, during this crucial transition period. He stressed that Japan’s assistance is vital to stabilizing Bangladesh’s economy and fostering a democratic foundation in the nation.
Syeda Rizwana Hasan, the Adviser for Environment, Forests, and Climate Change, announced today that steps will be taken to restrict the use of polythene shopping bags to safeguard future generations.
Starting from October 1, polythene bags will be banned in shopping malls, followed by a ban in kitchen markets from November 1.
“Everyone must take responsibility and stop using polythene voluntarily. Action against polythene producers will begin from November 1,” Rizwana Hasan stated during a seminar.
The Department of Environment (DoE) organized the seminar to raise public awareness about alternatives to banned polythene bags.
Rizwana Hasan highlighted that the restriction on polythene will be executed in phases according to legal provisions, and discussions with shopping centers and store owners are ongoing to ensure a smooth transition.
She also announced plans to make the government secretariat a plastic-free zone by December.
Other speakers at the seminar included Environment Secretary Dr. Farhina Ahmed, DoE Director General Dr. Abdul Hamid, Director Rajinara Begum, President of the Shop Owners Association Muhammad Helal Uddin, and Md. Arifur Rahman Bhuiyan, Assistant Professor of Environmental Science at BUP. They discussed the harmful effects of polythene and the need for alternative products.
Earlier, Rizwana Hasan inaugurated a fair showcasing eco-friendly alternatives to polythene bags and visited 24 stalls. The fair featured products from government and private entrepreneurs, including reusable bags, jute bags, paper bags, and items made from bamboo and cane.
