United News of Bangladesh

Addressing the complexities of global trade and its implications for countries like Bangladesh, Chief Executive Officer of Spanish clothing retailer Inditex Oscar Garcia Maceiras on Wednesday said the country is "better positioned" to capitalise on emerging global trade dynamics. He met with Chief Adviser Prof Muhammad Yunus at the State Guest House Jamuna and acknowledged the "moving parts" influencing the current global trade environment. The discussion centred on matters of mutual interest, including the evolving landscape of global trade, the expansion of cultural ties between Bangladesh and Spain, and Inditex's corporate social responsibility (CSR) initiatives within Bangladesh, said the Chief Adviser’s press wing. The Inditex CEO lauded the chief adviser's speech at the Bangladesh Investment Summit, describing it as "very inspirational". Change Bangladesh, world doing business in land of crazy ideas: Dr Yunus tells foreign investors Inditex is the biggest fast fashion group in the world. It owns a number of brands including Zara, Bershka and Massimo Dutti. Maceiras emphasised Bangladesh's pivotal role as a sourcing hub for Inditex, outlining the company's intent to deepen its partnership with the nation. "We have very strong ties. We are looking to strengthen the relationship," Maceiras said, adding that "Bangladesh is very business friendly for sourcing." Following visits to several Bangladeshi factories, Maceiras expressed his admiration for the diverse range of products manufactured within the country. He announced Inditex's commitment to funding the graduate and postgraduate education of at least 50 female workers from its Bangladeshi factories, through a newly signed agreement with the Asian University for Women in Chittagong. Furthermore, Maceiras revealed that Inditex has established an Inditex Chair for Spanish Language and Culture at Dhaka University. The chief adviser commended the company's social responsibility endeavours. Prof Yunus reminisced about his time in Spain and his longstanding association with former Spanish Queen Sofia. Strengthening healthcare system: Dr Yunus seeks greater collaboration with UK He urged Inditex to increase its investment in healthcare facilities for garment workers in Bangladesh. Company officials present at the meeting disclosed that Inditex will soon commence air-shipping cargo from Sylhet International Airport.