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 honour at the SWITCH to Circular Economy Value Chains (SWITCH2CE) Project inception seminar organized by UNIDO and the Ministry of Commerce in Dhaka.
Textile and Jute Minister Golam Dastagir Gazi (BirPratik) was present at the event as chief guest.
The Senior Secretary of Commerce Ministry Tapan Kanti Ghosh, and Dr. Bernd Spanier, Chargé d’Affaires, EU Delegation to Bangladesh were present as special guests.
UNIDO Country Representative Zaki Uz Zaman, 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 Gagan Bansal, head of material innovation and strategy, H&M, Barrister Vidiya Amrit Khan, director, BGMEA, and Hilde Van Duijn, head of global value chain at Circle Economy.
The panel discussion was moderated by Dr. M. Masrur Reaz, CEO of 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.
