Bangladesh has signed a memorandum of understanding (MoU) with the Netherlands on cooperation in the field of the circular economy, aiming to make the country’s ready-made garment (RMG) and textile sectors more sustainable, environmentally friendly and competitive in global markets.
The MoU was signed at the Bangladesh Ministry of Commerce by Bangladesh Commerce Minister Khandakar Abdul Muktadir and Dutch Minister of Climate and Green Growth Stientje van Veldhoven-van der Meer.
Under the agreement, the two countries will cooperate in the efficient use of resources throughout the textile value chain, reducing waste, developing recyclable production systems and promoting green industrialisation.
Bangladesh’s Commerce Minister Muktadir said adopting sustainable production systems and circular economy approaches in the global textile industry has become an essential necessity.
He also stressed the need to strengthen international cooperation in these sectors, as Bangladesh’s RMG and textile industries are deeply integrated into the global market.
“This memorandum of understanding is an important milestone in advancing our partnership towards a greener, more resilient and future-oriented economy,” Muktadir said.
He said the circular economy is important not only for environmental protection but also for strengthening the long-term competitiveness of Bangladesh’s export sector, improving resource efficiency, attracting sustainable investment and creating green jobs.
Muktadir further said Bangladesh is on the path towards graduating from the least developed country (LDC) category. In this context, strengthening the sustainability of industries, adopting environmentally friendly production systems and complying with international standards will be important in enhancing Bangladesh’s position in future trade competition, he said.
The Dutch minister also said the transition towards a circular economy has become extremely important, but no country can successfully complete the transition alone.
International cooperation, commercial partnerships and coordinated initiatives throughout the supply chain are therefore necessary, she said.
Through the MoU, new opportunities are expected to emerge in Bangladesh’s textile and RMG sectors for the adoption of green technologies, innovation, sustainable production systems and enhanced competitiveness in international markets, according to the Bangladesh Ministry of Commerce.
Ref/Photo: The Daily Star
