EU, Dutch and Spanish envoys said Bangladesh can become a regional leader in green shipbuilding, recycling and circular economy through investment, technology transfer, stronger industrial partnerships and sustainable growth.
The envoys of the European Union (EU) and two of its member states, Spain and the Netherlands, have said Bangladesh holds strong potential to emerge as a regional hub for recycling, circular economy industries and green shipbuilding, as the country accelerates efforts to diversify beyond its reliance on the ready-made garment sector.
The remarks came during a recent high-level visit by EU Ambassador and Head of Delegation to Bangladesh Michael Miller, Dutch Ambassador Joris van Bommel and Spanish Ambassador Gabriel MarÃa Sistiaga Ochoa de Chinchetru to key industrial facilities showcasing Bangladesh’s evolving manufacturing landscape.
The delegation visited Recover, one of the world’s largest mechanically recycled cotton fibre producers, along with the Dockyard and Engineering Works Limited under the Bangladesh Navy and Karnaphuli Ship Builders Ltd, one of the country’s leading private shipbuilding companies.
The EU side said the facilities demonstrate how European technology, investment and market access can combine with Bangladeshi entrepreneurship to build globally competitive and sustainable industries, particularly in the context of global supply chain transformation and climate-focused industrial transition.
EU Ambassador Michael Miller said Bangladesh stands at a crucial stage of economic transformation, where industrial diversification and green growth will define its next phase of development.
“The sector holds huge potential. Bangladesh’s economy needs to modernise and diversify and the European Union, together with our member states, wants to be part of your future success story. We are here with an incredibly positive agenda,” he said during his visit to Karnaphuli Ship Builders Ltd in Narayanganj.
He added that closer alignment between European capital, technology and expertise and Bangladeshi entrepreneurship could accelerate the country’s transition toward sustainable industrial growth and stronger global competitiveness.
Dutch Ambassador Joris van Bommel said maritime cooperation remains a strategic priority for the Netherlands, particularly in advancing innovation and environmentally sustainable shipbuilding.
“For the Netherlands, collaboration in the maritime sector between the Netherlands and Bangladesh is a priority,” he said, adding that future engagement would focus on improved ship design, greener technologies and long-term industrial cooperation.
He also stressed the importance of strengthening business-to-business ties, knowledge exchange and government-to-government collaboration to deepen maritime sector partnerships.
The Dutch envoy noted that the Netherlands invested more than $544 million in Bangladesh in 2025, positioning it as one of the country’s largest foreign investors and a key partner in driving innovation, jobs and sustainable growth.
Spanish Ambassador Gabriel MarÃa Sistiaga Ochoa de Chinchetru expressed optimism about expanding cooperation in the maritime sector, highlighting Bangladesh’s growing technical capacity.
“I’m very impressed by what you are doing here,” he said, adding that shipbuilding could become a major area of enhanced EU-Bangladesh collaboration in the coming years.
The EU delegation said its partnership with Bangladesh is gradually shifting from traditional development cooperation toward a more investment-driven model centred on innovation, technology transfer and private sector growth.
Ambassador Miller said the EU remains Bangladesh’s largest export destination and a major source of foreign direct investment and development support, but stressed that the future relationship will increasingly be shaped by sustainable trade, industrial upgrading and political-economic cooperation.
“The relationship is moving from one dominated by development assistance and trade to one centred on investment and political cooperation,” he said.
A key focus of the visit was the promotion of the circular economy. At the Recover facility, the delegation observed large-scale recycled cotton production integrated into global supply chains across Europe, Asia and Latin America, reflecting growing demand for sustainable raw materials.
The EU said Bangladesh has strong potential to emerge as a regional recycling hub, supporting global climate goals while creating new green industrial opportunities and strengthening export competitiveness ahead of its graduation from the Least Developed Country (LDC) category.
Officials from Karnaphuli Ship Builders highlighted Bangladesh’s expanding technical capabilities, noting that long-standing collaboration with European partners has enabled significant progress in advanced shipbuilding. However, they identified access to financing and policy support as key challenges to scaling up exports.
They called for improved access to green financing from European institutions, arguing that stronger financial cooperation could help position Bangladesh as a major shipbuilding exporter while benefiting both European technology providers and Bangladeshi manufacturers.
During the visit, the ambassadors also met senior officials from the Bangladesh Navy-operated Dockyard and Engineering Works Limited, Karnaphuli Ship Builders Ltd founder and Managing Director Engineer M. A. Rashid, Commodore Faiz and representatives of Recover, underscoring growing institutional and private sector engagement between Bangladesh and Europe.
