As one of Bangladesh's major development partners, the Netherlands will assist the South Asian country in adapting to the circular economy in the changed development scene.

King Willem-Alexander of the Netherlands gave this assurance to Bangladesh's Ambassador Muhammad Riaz Hamidullah on Thursday.

The volume of Bangladesh's bilateral trade with the Netherlands is around $1.5 billion. Of this, Bangladesh's exports make up about $1.2 billion.

European Union (EU) countries are first implementing circular economy themselves. Re-manufacturing is important to circular economy particularly, for the sake of maintaining environmental balance.

Several industries in India have already prepared to meet the European market in these new circumstances.

A notice issued by the Bangladesh Embassy in the Netherlands on Friday, said that King Willem-Alexander praised the astute and strong leadership of Bangladesh Prime Minister Sheikh Hasina and the country's socio-economic development.

Ambassador Riaz conveyed his thanks to the Dutch government for the continued cooperation ever since Bangladesh's independence.

He said that the two deltaic countries could enhance cooperation in various sectors such as climate change, women's development, sustainable manufacturing, technology, economy, and more.

Ambassador Riaz presented his credentials to the King on Thursday at the royal palace in The Hague.

As chairman of the UN water and sewerage advisory committee, King Willem-Alexander had visited Bangladesh 30 years ago.

While recalling the memories with the envoy, various issues of Bangladesh were discussed, including the matter of circular economy.

The Netherlands and other European countries had attached the concept of the circular economy to manufacturing too.

The King has shown interest in how the Netherlands could assist Bangladesh in the future in this regard.

By means of the circular economy, the aim of the EU is to reduce carbon emissions to a specific level by 2030 and cut expenditure by at least 60,000 billion euros, as well as to ensure a minimum 80,000 jobs.

According to the EU website, the bloc has been working in accordance to a work plan drawn up in 2015.

In the continuity of the concept of 'green growth', Europe and the rest of the developed world are now placing emphasis on circular economy.

According to the circular economy work plan, people will be provided with high quality and safe products at economical prices. The products will be more sustainable than past products and can be remanufactured too.

The focus is on improved living, creative employment, and ensuring higher knowledge and skills.

The Ambassador apprised the king of the existing and potential investment benefits for Dutch investors in Bangladesh's agriculture, technology, energy, water, and various other sectors.

Europe is the destination of 60 per cent of Bangladesh's readymade garment exports. It is therefore essential for Bangladesh to speedily adapt to this system.

The Ambassador thanked the Dutch government for their various initiatives and support during the COVID-19 pandemic, and also for the Dutch brands for maintaining the readymade garment supply orders.

From 2025, EU countries are going to export goods to 27 EU countries will have to follow that system of production in order to remain in the competition.

It will be compulsory to make it possible to remanufacture one-fourth of a product of countries exporting to the EU.

The Ambassador informed the Kng that both of the two countries could benefit equally from such cooperation.

He said Bangladesh is doing well in economic growth as well as in various social indicators, and that there was scope for cooperation with the Netherlands in various creative fields, not just in manufacturing.

In dealing with the global changes brought about by the pandemic, everything is now 'touch-free' in the Netherlands. Instead of dealing in cash, transactions are online.(IANS)