Commerce Minister Khandakar Abdul Muktadir said circular economy adoption is now essential for Bangladesh’s industrial competitiveness, sustainable growth and stronger global positioning, reports BSS.
Speaking at a seminar on circular economy initiatives, he said global trade is increasingly driven by sustainability standards, with buyers and investors prioritising efficient and responsible production systems.
The event was jointly organised by the Ministry of Commerce Bangladesh and the Bangladesh Garment Manufacturers and Exporters Association.
He said pilot projects under the SWITCH to Circular Economy programme with global brands have shown that circular practices are practical and scalable, particularly in textile waste management and recycling.
Muktadir warned that Bangladesh will face tougher competition after graduating from least developed country status and must improve efficiency and investment readiness.
He also highlighted high logistics costs and ongoing port reforms, including international operator involvement, to improve efficiency.
He said the government is simplifying business procedures and expanding one-stop services to improve the ease of doing business.
He stressed that all export sectors must adopt sustainable practices to remain competitive and called for greater responsibility from developed economies on environmental issues.
Bd-pratidin English/ Jisan
