Recover, a global producer of recycled cotton fibre, is keen to invest in the country's recycling industry as 75% of apparel products produced here are cotton-based, producing nearly 4 lakh tons of recyclable pre-consumer waste every year.
"We see a huge prospect in developing the recycling industry in Bangladesh. By capturing and reusing textile waste, we can reduce our cotton import and export clothing, made of the recycled fibres, worth around $3 billion," Bangladesh Garment Manufacturers and Exporters Association (BGMEA) President Faruque Hassan said at a meeting with Benjamin Joseph Malka, executive chairman of Recover at BGMEA office in Dhaka on Wednesday.
Ben Malka said Recover has already made a huge investment in the recycling industry of Bangladesh and was keen to invest more to develop the recycling capacity in the country.
The two leaders had discussions about a possible collaboration between BGMEA and Recover to enhance the capacity of recycling the textile waste in Bangladesh to make the country a global recycling hub.
They expressed high optimism about developing the recycling industry in Bangladesh as 75% of apparel products are cotton-based and nearly 4 lakh tons of recyclable pre-consumer waste is produced in Bangladesh every year, of which only 5% is locally recycled.
Alejandro Raña, chief business development officer at Recover, was also present at the meeting.
Recover is a global producer of low-impact, high-quality recycled cotton fibre and fibre blends.
Bangladesh's RMG industry has turned its focus on a shift from the linear economic model to circular as a circular fashion system could bring not only environmental but financial benefits for Bangladesh, Faruque Hassan added.