IFC-ILO Better Work Conference Promotes Improved Labor Standards, Increased Competitiveness

The Financial
20/11/2009 14:10 (21:27 minutes ago)

The FINANCIAL -- IFC, a member of the World Bank Group, and the International Labour Organization are meeting on November 19 with governments, garment industry leaders, and labor-related organizations to promote labor standards for millions of workers and expand efforts to increase companies’ competitiveness in global markets.



"IFC and ILO are hosting a conference, Harnessing Global Incentives for Development, to discuss lessons learned in the past decade from experiences of Better Factories Cambodia, an initiative under the joint IFC-ILO Better Work partnership program. Launched in 2006, Better Work seeks to improve labor standards and competitiveness in global supply chains," IFC reported.



The conference highlights successful elements that led to the growth of Cambodia’s textile sector, such as increasing dialogue at the factory level, implementing dispute settlement mechanisms, building mature industrial relations, and improving the investment climate.



“Collaboration among government, local industry leaders, and international brands continues to be instrumental in achieving the success that Better Work Factories and Better Work have experienced in the last 10 years,” said Greg Radford, IFC Director for Environment and Social Development. “While millions of workers are benefiting from these commitments, companies are becoming more competitive in the global marketplace and more likely to weather the financial crisis.”



Major apparel companies that support the Better Work program also are attending the conference, including American Eagle Outfitters, Gap Inc, Jones Apparel, Levi Strauss & Co, Martha Stewart Living, Nike, Polo Ralph Lauren, Walt Disney, and Wal-mart. The valued supporters will contribute a multistakeholder perspective.



“Better Work is supported widely by international buyers and local suppliers. This has made a significant impact on the lives of workers and their families, the performance of enterprises, and the economic and social development of the countries involved,” said Ros Harvey, Global Director for the Better Work program.



IFC is the only international financial institution focused exclusively on the private sector, the engine of sustainable development in emerging markets. Along with IBRD, it is currently seeking a capital increase to strengthen its ability to create opportunity for the poor in developing countries—including by helping improve labor standards to benefit millions of workers and businesses worldwide.