The Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Sustainable Textile Initiative: Together for Change (STITCH) signed an MoU on Tuesday to promote gender-sensitive workplace and make logical price negotiations with brands by using fair price app.
Moreover, the BKMEA and the STITCH consortium have decided to work in collaboration to form and functionalize 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 issues 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 safeguard ethical purchasing practices and maintain a sustainable business relationship between international brands and manufacturers.
To support addressing this issue the BKMEA and the STITCH consortium have agreed to work together 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.