A group of 70 retailers have agreed with legally binding safety pact since May 2013 committing their support to improve working conditions in Bangladesh clothing factories.

The initiative is in the wake of Rana Plaza factory building tragedy that claimed more than 1,100 lives in April, exposing the low working standards.

Following the incident retailers such as Hennes & Mauritz AB, Zara parent Inditex SA and British retailer Primark, part of Associated British Foods, formulated a industry-wide five-year pact.

As per the pact, the retailers are expected to share their respective suppliers list, which is expected to cover 1,500 to 2,000 of Bangladesh’s 5,000 factories, reported 4-traders citing Dow Jones.

All of these factories are to be inspected by April 2014.

However, before the same buildings are checked by the pact’s chief inspector, British retailers Tesco and Primark discovered structural problems at the Liberty Fashion Wears factory in Savar, near the crumbled Rana Plaza.

Tesco and Primark collaborated with other retailers to urge the factory owner to close the site until more inspections and repairs are completed.

Meanwhile, major US retailers, including Walmart Stores and Gap have outlined a $50m safety fund that is expected to be launched by mid-July.

The European group intends to appoint chief safety inspector and executive director to undertake building-safety assessments of all of the factories in which the retailer signatories manufacture.