With a new memorandum of understanding (MoU) signed by the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) and Stitch, the associations express their aim to ensure gender-sensitive workplace and fair prices from apparel and footwear buyers. Part of the new project is the implementation of the Fair Price App, a tool created by the Fair Wear Foundation that facilitates fact-based costing and shared responsibility between buyers and suppliers to ensure prices sufficiently cover all labor expenses, including when wages are raised. The tool captures all elements of labor costs. As such, it empowers factories and brands with the information they need to determine fair (fact-based and bottom-up) prices that are calculated with the actual prevailing labor costs in a factory.

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