Bangladesh and H&M discuss RMG progress, sign MOU

Prime Minister Sheikh Hasina and  H&M Group CEO Helena Helmersson discussed the advancement of Bangladesh’s garment industry in a meeting recently, reports just-style.com.   

The focus of the discussions revolved around transforming the garment industry into a circular model and promoting the development of the renewable energy market in Bangladesh. Specific mechanisms, such as Corporate Power Purchase Agreements, were explored as a means to bolster the generation of renewable electricity within the sector.

Helmersson also discussed reforms that could enhance Bangladesh’s competitive position as a sourcing destination, particularly in light of evolving legislation across various countries with State Minister Shahriar Alam.

H&M Group explains that Bangladesh has emerged as one of its primary production countries since the company established its first partnerships with Bangladeshi suppliers in 1982. It adds that with a local team of 500 individuals based in Dhaka, the group’s production office maintains a continuous dialogue with local stakeholders.

Helmersson also met with Faruque Hassan, President of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA), to establish the joint partnership dedicated to fostering a circular and climate-neutral garment sector in the country.

The Memorandum of Understanding (MoU) was signed between H&M Group and BGMEA to solidify their commitment to making advancements in these critical areas.

“As strong partnerships and clear industry-wide policies are key, we are grateful to have this dialogue with local stakeholders, in particular the government of Bangladesh and the Prime Minister. While we as a company have made good progress towards our goal to achieve net zero by 2040, we need to work together to overcome industry-wide challenges,” said Helmersson.

She added: “By joining forces, we can put the topic of circularity and decarbonisation on top of the industry agenda.”