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NEW YORK – A group of 190 investors with global assets of over estimated US$3 trillion has released a public statement and written directly to the Bangladeshi Prime Minister calling for an extension of the Accord for Fire and Building Safety in Bangladesh until such a time as an alternative body can guarantee the safety of garment workers and factories. 

Several investors are shareholders in a range of companies sourcing products in the garment sector, and this prompted the group to raise its collective voice to highlight concern of what they view as the “precipitous closure of the Accord,” which would have negative ramifications for workers and the brands in which the investors have a stake. 

A final decision on the Accord’s future is scheduled for 18th February, but a string of farcical delays have continually pushed back the verdict, there is no guarantee that this date will offer up a conclusive answer to the questions hanging over the future of safety regulation in Bangladesh.

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