Douglas McMillon, President and CEO of Wal-Mart International, the world's leading retail chain, during a meeting with the leaders of the readymade garment industry has recommended for establishing a comprehensive industrial zone for the apparel sector in Bangladesh for buyer's convenience and to draw more foreign investment.
Mr Douglas stated that for them Bangladesh is a significant source of apparels and that they look forward to acquire more products from there. Accordingly, he recommended establishment of a comprehensive industrial zone having adequate gas and power supply for the sector.
The garment sector has also urged the Wal-Mart CEO to steer efforts to devise a cohesive code of conduct for purchasers of clothing from Bangladesh, as factories confront problems on account of the buyer- specific conditions.
The US is the leading importer of Bangladeshi garments, of which sourcing by Wal-Mart accounts for 30 percent of US imports, which adds up to nearly a billion dollars each year. Wal-Mart has a turnover of over US $400 billion per annum.
Fibre2fashion News Desk - India
marketing@alchempro.com
