By guest author Sahar Nazir from Retail Gazette
- M&S outlines plans to buy more high-end garments from Bangladesh
- The retailer has committed to suppliers and will diversify products
- Bangladesh Garment Manufacturers and Exporters Association president, Faruque Hassan called for signing free trade agreements
M&S has revealed plans to purchase more high-end garments from Bangladesh as it commits to diversifying its products.
The retailer’s country manager, Shwapna Bhowmick said M&S currently buys over £1 billion worth of garment items from Bangladesh each year – making it the largest sourcing destination for apparel items for M&S.
The company wanted to buy more garment items from Bangladesh because of the commitments of the suppliers and the diversification of products.
Speaking at a session on the garment industry at the International Investment Summit organised by the Bangladesh Investment Development Authority, Bhowmick suggested the easing of doing business.
Bangladesh Garment Manufacturers and Exporters Association (BGMEA) president, Faruque Hassan called for signing free trade agreements, preferential trade agreements and other regional trade agreements with trading partners to retain the duty-free export facility after the graduation of the country from a least-developed country to a developing nation in 2026.