$5b Export Potential in Waste Circularity: BUILD

Bangladesh urgently needs to adopt a comprehensive circular economy model to transform its escalating plastic waste into valuable resources, unlocking an estimated $4–5 billion in additional garment exports while aligning with evolving global sustainability mandates, top policymakers and industry leaders said on Sunday.

Speaking at the 5th Sustainability & Green Growth Working Committee meeting jointly organized by Business Initiative Leading Development (BUILD) and the Ministry of Environment, Forest and Climate Change experts stressed that formalizing the nation’s fragmented recycling ecosystem is no longer optional, but a absolute prerequisite for future export survival and long-term economic growth.

Chairing the high-level session, Environment Secretary in Charge Dr. Fahmida Khanam highlighted that as a signatory to international environmental commitments under the UN framework, Bangladesh is now mandated to enforce circularity principles and comply with strict European Union Green Deal regulations.

She disclosed that the ministry has already initiated a phased withdrawal of single-use plastics starting with plastic stick-based cotton buds, stirrers, and straws while assuring industry leaders of a practical transition window so that factories have adequate time to shift toward sustainable production methods.

Promoting green business remains a top government priority, she noted, calling on the private sector to collaborate closely with public agencies to drive environmentally friendly economic expansion.