• Saturday, April 20, 2024

Business

Major brands fail to join Bangladesh factory safety accord

By: Sarwar Alam

Swedish furniture giant IKEA and American music mogul Sean “Diddy” Combs’ clothing were among companies sourcing from Bangladesh that had failed to sign a new accord for the safety of millions of factory workers as it took effect on Friday. The new pact is a three-year extension of the Bangladesh Accord, a legally-binding agreement between global brands and trade unions drawn up after the Rana Plaza collapse, one of the worst industrial accidents in modern history. It established a fire and safety programme for the country’s $28 billion a year textile industry, which employs about 4 million people. So far 175 of the 220…

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