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Sweden for strengthening trade ties with Bangladesh
Oct '15
Sweden would like to expand trade relations with Bangladesh for the benefit of the people of both nations, Johan Frisell, Swedish ambassador has said, according to Bangladeshi media reports.
Bangladesh exports readymade garments worth $5 billion every year to the Swedish retail giant H&M. Hence, the readymade garment sector in Bangladesh is also expected to derive benefits from the cooperation, said Frisell in his presentation at a function for members of Diplomatic Correspondents Association Bangladesh (DCAB) in Dhaka.
Speaking about increasing trade flows both ways between the two countries, the ambassador also gave significance to cooperation in improving health, education, and women's empowerment facilities in Bangladesh. He also explained efforts of the Swedish International Development Cooperation Agency (SIDA) to develop and implement innovative ways of financing and cooperation.
Last month, Sweden signed an agreement with Bangladesh and the International Labour Organization (ILO) to start a new initiative for improving working conditions and rights for all workers in the readymade garment industry of Bangladesh. The initiative will begin in November 2015 and will continue till December 2020. As per the agreement, Sweden will spend $5.4 million on the initiative.
Bangladesh's garment industry is growing rapidly and presently consists of more 3,000 apparel exporters generating employment for more than 4 million workers. (HO)

Fibre2Fashion News Desk – India

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