Prospects of Circular Economy towards International Trade in Bangladesh

Author:Sara Tasneem

Abstract:
Circular economy invents a new horizon to struggle with scarce natural resources and environmental injury in Bangladesh. Circular Economy can amplify the potentials of international trade of Bangladesh through accelerated economic growth. Regardless of satisfactory growth, Bangladesh has to struggle to achieve trade balance and sustainable environment in near future. It requires a transition from traditional system to circular system of production and consumption. In this backdrop, the study aims at developing a model to show how circular economy can accelerate international trade volume and bring trade balance through the amplification of economic growth. Following the inductive reasoning approach with critical review of empirical literature, the study arrives at a model which explains how trade can be accelerated with trade balance through economic growth owing to the transition to circulation economy. It concludes with the recommendation of preferential trade policy, government intervention, and international cooperation.

Keywords:Circular Economy, International Trade, Economic Growth, Inductive Reasoning Model.

DOI:

International Journal of Trade & Commerce (Vol: 11 Issue:2)