Helena Helmersson, the CEO of H&M Group, recently visited Bangladesh and met with the Prime Minister, Sheikh Hasina, and the State Minister for Ministry of Foreign Affairs, Shahriar Alam. The discussions focused on the development of the garment industry and the competitive position of the country. During the visit, H&M Group and the Bangladesh Garment Manufacturers and Exporters Association (BGMEA) signed a Memorandum of Understanding (MoU) to collaborate on achieving a circular and climate-neutral garment sector in Bangladesh.
Prime Minister Sheikh Hasina called for increased Swedish investment in various sectors of Bangladesh, particularly in ICT and Economic Zones. The meeting took place at the Prime Minister’s official residence, Ganabhaban, and included Swedish Ambassador to Bangladesh Alexandra Berg Von Linde and H&M’s Chief Financial Officer, Adam Karlsson. Prime Minister’s Press Secretary Ihsanul Karim provided an overview of the discussions, highlighting Bangladesh’s economic policies and targeted plans for poverty reduction, food security, healthcare, and employment generation. The Prime Minister emphasized the government’s commitment to expanding the export basket to further strengthen the country’s economy.
Helena Helmersson acknowledged the special relations between Sweden and Bangladesh over the past three decades and expressed a desire to continue and enhance business collaborations. She praised Bangladesh’s socio-economic development and commended Prime Minister Sheikh Hasina’s successful handling of the Covid-19 pandemic. The Prime Minister, in turn, appreciated H&M’s support by not canceling their orders during the challenging times.
The topic of climate change was also addressed during the meeting. Helena Helmersson highlighted its importance, and Sheikh Hasina mentioned the government’s initiatives to mitigate the effects of climate change using its own funds. The Prime Minister affirmed her administration’s awareness of the issue and ongoing efforts to address it.
Furthermore, Sheikh Hasina emphasized her government’s achievements in women empowerment and gender equality, showcasing Bangladesh’s progress in these areas. Present at the meeting were Prime Minister’s Adviser on Private Industry and Investment Salman F Rahman and Prime Minister’s Principal Secretary Tofazzel Hossain Miah.
Since its first partnership with Bangladeshi suppliers in 1982, Bangladesh has become one of H&M Group’s major production countries. The meeting between Helena Helmersson and Prime Minister Sheikh Hasina provides an important platform to exchange views on industry development and address challenges and opportunities going forward.
The central themes of the discussions revolved around transforming the garment industry to a circular model and advancing renewable energy solutions in Bangladesh. The use of mechanisms like Corporate Power Purchase Agreements to increase the generation of renewable electricity in the garment sector was also highlighted. Helena Helmersson also engaged with State Minister Shahriar Alam to discuss future industry reforms that can bolster Bangladesh’s competitive position as a sourcing destination amid changing legislations globally.
During her visit, Helena Helmersson met with Faruque Hassan, President of BGMEA, to establish a collaborative partnership towards achieving a circular and climate-neutral garment sector in Bangladesh. This partnership, formalized through the signing of the MoU, aims to address critical issues and drive progress in these areas of utmost importance.
Helena Helmersson emphasized the significance of strong partnerships and industry-wide policies in overcoming challenges and achieving sustainability goals. By working together, H&M Group and local stakeholders, including the Bangladesh government, can prioritize circularity and decarburization in the garment industry.
