As Bangladesh prepares to transition from its Least Developed Country (LDC) status, it is imperative to break free from the cycle of low wages, underlined experts even as they added the current minimum wage for readymade garment (RMG) workers falls far short of covering the rapidly rising cost of living.
Development partners of the country have emphasised that this shift towards fairer wages should involve not only the government and industrialists but also the active participation of brands and buyers.
These sentiments were expressed during a recent event held in the capital city of Dhaka.
Thijs Woudstra, the Charge D’affaires at the Netherlands Embassy in Bangladesh, voiced his concerns for the future of the 4.5 million workers and urged Bangladesh to step out of the low wage trap as it graduates from LDC status even as he emphasised that there is no alternative to improving working conditions and wages, highlighting that the adoption of green initiatives within the readymade garment industry would enhance the country’s competitiveness beyond 2026.
Addressing the gathering, Fahmida Khatun emphasised the upcoming challenge of preparing for green industrialization, especially after the LDC graduation.