The move, announced Friday, signals the Hong Kong-based company’s commitment to responsible sourcing. As part of its membership, Li & Fung has selected FTA’s International Trade Policy services and will participate in its Business Social Compliance Initiative (BSCI), which provides companies with a practical system to improve social compliance in global supply chains.
“I am delighted about Li & Fung’s decision to join FTA and benefit from our wide range of services and tailored support designed to help our members succeed in a fast ever-changing environment,” said Christian Ewert, FTA director general. “Similarly, I have no doubt that Li & Fung’s vast experience as one of the world’s largest sourcing and distribution platforms, and its know-how in customer relationships, supplier network, and operations can help us get closer to our goal of finding practical solutions towards sustainability in the global supply chain.”
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Through FTA’s BSCI sustainability initiative, Li & Fung will gain access to such benefits as social audits of the supply chain, training and dialog with a wide range of stakeholders. In addition, the sourcing company will support, accept and share its audit reports with other BSCI participants to avoid duplicates.
“Li & Fung is looking forward to joining the many good companies involved with the Foreign Trade Association. We have a significant presence in the EU and it continues to be an important part of our global portfolio,” said Rick Darling, head of government and public affairs at Li & Fung. “With the proliferation of trade agreements, new regulations related to sustainability and greater degrees of transparency, keeping on top of these important issues remains a continued challenge. FTA will help us maintain our knowledge base in the EU and ensure we stay ahead of the market as it evolves.”
Founded in 1977 and based in Brussels, FTA promotes free trade and sustainable chains, and represents more than 1,800 retailers, importers and brands worldwide.