State of the Bangladesh Economy in FY2023-24 (First Reading) slide image

State of the Bangladesh Economy in FY2023-24 (First Reading)

Independent Review of RBD Bangladesh's Development 6.1 Background Labour rights in Bangladesh-Commitments and concerns Labour rights violations have been a persistent concern for Bangladesh Despite efforts from the government, the struggle to ensure decent work is reflected in different reports and studies The labour rights issue of Bangladesh, however, has regained fresh attention lately as its major trade partners, (the US and the EU) continue to adopt trade policies incorporating labour rights compliance as a key conditionality for trading and associated trade preferences ➤ On 16 November 2023, the US President signed a memorandum directing his administration to adopt a comprehensive government-wide strategy in advancing workers' rights worldwide (The White House, 2023) In November 2023, the Council of EU Member States and the European Parliament signed an amendment to extend the existing GSP regulation for the period 2024-2027 (European Commission, 2023) The issue of labour rights violations has drawn significant attention domestically as well The protest of garment workers for wage payment and increase resulted in the killing and injuries of workers, closing of RMG factories, ceasing of new worker recruitments, filing of around 34 lawsuits against 16,000 protesters At this time, Bangladesh was supposed to target meeting the eligibility criteria for trade preferences (such as GSP plus of EU) for developing countries as the country is set to graduate from the LDCs in 2026 ☐ Bangladesh is also getting closer to the timeline of fulfilling its national and international commitments in the area of labour rights including the incumbent government's electoral commitment to protecting workers' rights by 2023, implementation of the NAP on the Labour Sector by 2026, SDG 8 of ensuring decent work 2030, etc. Against this backdrop, this chapter of the report highlights the most recent status of labour rights compliance in Bangladesh CPD (2023): State of the Bangladesh Economy in FY2023-24 (First Reading) 82
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