On 10 June 2024, Business Leading Initiative Development (BUILD) organised a stakeholder consultation on European Union circular textiles policies on trading partner countries at its conference room to identify practical measures to support Bangladesh’s textile industry in adapting to the EU’s sustainable and circular textiles strategy. In association with Chatham House and Circle Economy, supported by GIZ, Laudes Foundation, and the European Environment Bureau (EEB), BUILD has commissioned the study in this respect.
For Bangladesh, the textile industry, especially readymade garments (RMG), plays a key role in the national economy and labour market. The export of readymade garments increased by 3.67% in 2023 to USD 47.39 billion, up from USD 45.71 billion in 2022, according to Export Promotion Bureau (EPB) data. The EU has undertaken a strategy to promote a sustainable, circular textiles and fashion industry. Dr Patrick Schroeder, a senior research fellow in the environment and society programme at the Royal Institute of International Affairs, Chatham House, presented the summary of key findings and analysis of the study. The discussions focused on potential opportunities and challenges, changes to upstream trade patterns, future textile exports to the EU, and recommendations for policy development.
While delivering the keynote, Dr Patrick Schroeder said we must assess the sector’s landscape before providing feedback on potential impacts and necessary adaptations for Bangladesh’s textile industry. We must devise strategies for enhancing collaboration between EU and Bangladesh stakeholders to promote a sustainable and circular global textile sector.
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