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Circular economy presents a clear pathway toward achieving greater environmental sustainability while fostering economic growth, said Faruque Hassan, President of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
He said, “The readymade garment industry has historically followed a linear business model. However, it is evident that this trajectory needs to change if we are to ensure sustainability.”
“In Bangladesh, we have an opportunity to lead this change, to become not just an industry but a nation committed to circular practices,” he added.
Faruque Hassan made the observations while delivering his speech as guest of honor at the SWITCH to Circular Economy Value Chains (SWITCH2CE) Project inception seminar organized by UNIDO and the Ministry of Commerce in Dhaka on September 5.
Golam Dastagir Gazi (BirPratik) MP, Minister, Ministry of Textile and Jute, was present at the event as chief guest.
Tapan Kanti Ghosh, Senior Secretary, Ministry of Commerce, and Dr. Bernd Spanier, Chargé d'Affaires, EU Delegation to Bangladesh were present as special guests.
Zaki Uz Zaman, Country Representative, UNIDO gave the welcome speech. Mark Draeck, chief technical advisor on SWITCH2Circular, UNIDO, made a presentation on SWITCH2CE strategies for Textile value chain in Bangladesh.
A panel discussion on “The way ahead for Switch to Circular Economy in Bangladesh Textile and Garments Sector”, was also held at the event.
Distinguished panelists included Ms. Gagan Bansal, Head of Material Innovation and Strategy, H&M; Barrister Vidiya Amrit Khan, Director, BGMEA, and Ms. Hilde Van Duijn, Head of Global Value Chain, Circle Economy. The panel discussion was moderated by Dr. M. Masrur Reaz, CEO, Policy Exchange.
In his speech BGMEA President Faruque Hassan highlighted the aspiration of Bangladesh to establish itself as a global recycling hub and further contribute to the economy while positively impacting climate.
Pointing to the challenges of circularity, he urged all stakeholders to work together to pave way for the transition towards circularity.
The global Switch to Circular Economy Value Chains (SWITCH2CE) project, co-funded by the European Union and the Government of Finland, is led by UNIDO, in collaboration with Chatham House, Circle Economy, and the European Investment Bank.