The memorandum of understanding was signed at a ceremony on cooperation in the 'Circular Economy' held in the conference room of the Ministry of Commerce on Monday.
At the event, Commerce Minister Khondaker Abdul Mutaqdir said adopting sustainable production systems and circular methods in the global textile industry is now an essential demand of the times. Since the supply chain of Bangladesh's ready-made garment and textile sector is spread globally, international cooperation in this sector needs to be further strengthened.
He said Bangladesh and the Netherlands have long been working as partners based on mutual trust, shared values and strong economic cooperation. The Netherlands is one of Bangladesh's most important development and trade partners in key areas such as water management, agriculture, logistics and sustainable industrial development.
The Commerce Minister said, 'This MoU is an important milestone in taking our partnership further towards a greener, more stable and future-oriented economy. The circular economy is not only about environmental conservation; it is directly related to enhancing the long-term competitiveness of Bangladesh's export sector, ensuring maximum use of resources, attracting sustainable investment, creating green jobs and meeting new demands of the international market.'
He further said Bangladesh is on the path of transition from a least developed country (LDC). In this context, enhancing the sustainable capacity of the industrial sector, adopting environmentally friendly production systems and following international standards will further strengthen Bangladesh's position in future trade competition.
Khondaker Abdul Mutaqdir said transformation to a circular economy is not possible through any single party alone. For this, integrated efforts by the government, industry, financial institutions, development partners, research institutions and consumers are required. This MoU emphasizes multi-stakeholder cooperation and knowledge exchange, which will help bring about necessary structural changes in the textile sector.
Expressing gratitude for the continued cooperation and constructive participation of the Government of the Netherlands, the Commerce Minister said this partnership will become a successful example of international cooperation in achieving sustainable industrial development and climate goals.
The MoU was signed between Bangladesh's Ministry of Commerce and the Netherlands' Ministry of Economic Affairs and Climate Policy. On behalf of Bangladesh, Commerce Minister Khondaker Abdul Mutaqdir signed it, and on behalf of the Netherlands, the country's Minister for Climate and Green Growth, Stientje van Veldhoven, signed it. The ministers of both countries joined the ceremony virtually and signed the agreement on behalf of their respective countries.
