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On August 20, 2024, the Programme for Sustainability in the Textile and Leather Sector II (STILE-II), implemented by GIZ Bangladesh, proudly hosted the much-anticipated European Green Deal Competition. The event was held at the Six Seasons Hotel in Gulshan 2, Dhaka.
The competition served as a vibrant platform for industry experts, consultants, and organizations to engage in discussions on the impact of current and upcoming EU regulations on Bangladesh’s trade and industrial sectors. Participants explored various regulatory aspects, focusing on the specific measures and systems required for compliance by the Government of Bangladesh (GoB) and the industry, while also providing comprehensive overviews of key European Green Deal regulations.
This initiative brought together 14 esteemed organizations and service providers such as PricewaterhouseCoopers (PwC), Centre for Policy Dialogue (CPD), BluWin, and EQMS Consulting Limited among others to delve into the European Union’s sustainability regulations, addressing critical topics such as EU Regulation, Digital Product Passport, Extended Producers Responsibility, Risk Management, Circularity Principles, Decarbonization, Chemical Management, Energy Efficiency and more.
The competition served as a platform to showcase how policies and project activities can work in tandem to boost competitiveness. The event was further enriched by insights from the European Union Delegation and the Danish Trade Council, highlighting the importance of Bangladeshi suppliers preparing for the impact of EU sustainability standards.
To that end, Ulrich Kleppman, Head of Cooperation, German Embassy in Bangladesh, who was present at the event mentioned that the sustainability standards and climate actions will be more relevant along with political decisions in the green deal. He also added:
“Along with politicians, brands are coming under increased pressure from consumers who demand clean, fair, and sustainable production”.
At the subsequent competition, LightCastle Partners secured 3rd place, with Samiha Anwar, Senior Business Consultant, and Priyo Pranto, Business Consultant representing LightCastle Partners, emphasizing the significance of climate change and its relevance to Bangladesh. The presentation highlighted Europe as a key market, noting that it hosts some of the world’s largest apparel companies, including H&M, COS, Zara, and Adidas.
Additionally, suppliers from developing countries accounted for 49.5% of all clothing imported into the EU by value, up from 48.8% in 2017. In fiscal year 2023 alone, Bangladesh earned USD 23.52 billion from the EU, representing nearly half of its total RMG exports. Therefore, it is crucial to adhere to EU regulations and prepare accordingly to maintain sector competitiveness.
Furthermore, the presentation also explored the key driving forces influencing the apparel sector, including the US-China trade conflict, geopolitical tensions, market prospects for friendshoring and nearshoring, and the potential effects of the upcoming LDC graduation in 2026. The presentation wrapped up by pinpointing potential areas for policy reform and addressing ecosystem challenges, with a focus on how we can future-proof the apparel sector for 2030.
Apart from these, IOTA Consulting and BluWin jointly secured first place, while EQMS Consulting Limited earned second place. In conclusion, as we navigate the evolving landscape of the apparel sector, it is crucial to remain agile and responsive to both current and emerging forces. By addressing the identified challenges and embracing opportunities for reform, we can strategically position the industry to thrive in the coming decade. The event offered a valuable platform to exchange insights and disseminate knowledge, strengthening our collective efforts toward sustainability within the industry.
Over the last decade, LightCastle Partners has been deeply involved in various initiatives fostering systems change within the Ready-Made Garment (RMG) sector. Notably, LightCastle has arranged dialogue events that concentrate on both the challenges and opportunities confronting the industry in its pursuit of competitiveness, sustainability, and enhanced working conditions for its labor force. As a part of the Bunon 2030, LightCastle hosted a series of dialogue events throughout the year, fostering collaboration among ecosystem stakeholders, advocating for enabling policies, and guiding the sector towards a more sustainable future. With Bunon, we aim to future-proof the apparel sector through collaborations and partnerships. Join us on a transformative journey where we strive to improve the well-being of women apparel workers by driving systemic change.
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