This report delves into the concept of the circular economy, emphasizing its significance in fostering sustainable economic growth and minimizing waste, particularly within the Commonwealth nations. It defines the circular economy, contrasting it with the linear model, and outlines its core principles, including designing out waste, keeping materials in use, and regenerating natural systems. The report highlights the benefits of this approach, such as improved resource security and increased innovation. A key focus is on the progress of the circular economy in developing nations, with a detailed case study on Bangladesh, examining the country's initiatives to promote circular practices within its garment industry and addressing barriers such as technological and financial constraints. The report also proposes actions for companies and governments to support the development of the circular economy and concludes with recommendations for a Commonwealth Local Government Ministers Meeting, providing a comprehensive overview of the circular economy's potential and challenges in the context of international business and sustainable development.
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