The concept of a circular economy revolves around maximising the utilisation of existing materials and products through sharing, leasing, reusing, repairing, refurbishing and recycling.
At a summit in Bangladesh, participants have advocated for transitioning the economy towards a circular model that embraces these practices.
The 1st Bangladesh Circular Economy Summit, powered by GIZ, the Embassy of the Netherlands, and H&M Group, was organized in Dhaka by Bangladesh Apparel Exchange in collaboration with Laudes Foundation and in partnership with P4G.
The summit focused on promoting a circular economy, which aims to extend the life cycle of products and minimise waste.
Speakers at the summit emphasised that circularity will play a pivotal role in driving the next phase of growth for Bangladesh’s economy.
MP Saber Hossain Chowdhury, Prime Minister Sheikh Hasina’s special envoy on environment and climate change, emphasised the importance of transitioning from a linear to a circular economy.
This shift aims to maximize resource utilisation, extract optimal value from products during their lifespan, and create a win-win business case for manufacturers and buyers.
Atiqul Islam, Dhaka North Mayor and apparel sector entrepreneur, highlighted the significance of the 3R approach (reduce, recycle, and reuse) for sustainability.
He also emphasised the mandatory nature of extended product or producer responsibility, as stipulated by the EU, for apparel producers in Bangladesh. Consequently, the promotion of circular fashion within the country holds immense importance.
Dutch Ambassador Anne Van Leeuwen acknowledged the shared vulnerability to climate change between the Netherlands and Bangladesh as both countries are large deltas.
