Taiwan to host 1st Asian Circular Economy Hotspot in 2025

London, Oct. 14 (CNA) Taiwan has been selected to host the inaugural Asia-Australasia Circular Economy Hotspot next year and showcase its innovative recycling and sustainable development approaches, the global initiative announced Monday.

Holding the hotspot event in Asia for the first time represents "a significant step forward in promoting sustainable practices and fostering global collaboration," said the Holland Circular Hotspot (HCH), a foundation that supports hotspot events around the world.

"Known for its leadership in circular economy practices, Taiwan's proactive policies and innovations -- ranging from cutting-edge textile recycling to electronic component repurposing -- set the stage for an inspiring event," the HCH said in a press release.

The event will bring together industry leaders, policymakers, and circular economy enthusiasts to share insights and drive impactful solutions, according to the HCH, which first held a Circular Economy Hotspot in the Netherlands in 2016.

According to the HCH's website, the group's mission is to reshape the linear economy, which uses resources to make goods that end up as waste, into a circular economy, which makes the most of resources by extending the life cycle of products through various means.

Lai Ying-ying (賴瑩瑩), director general of the Resource Circulation Administration under Taiwan's Ministry of Environment (MOENV), told CNA that the event is a rare opportunity for Taiwan to showcase its strengths on the international stage and engage in exchanges with other countries.

Taiwan has implemented a community-based recycling program since 1997, which has helped push its resource recycling rate to above 58 percent at present, Lai said.

The government is also stepping up efforts to impose circular economy strategies on items such as biomass, plastics and construction materials, she said.

A circular economy is an innovative economic model designed to minimize waste and make the most of resources by extending the life cycle of products, through approaches such as reuse, recycling, and regeneration.

The time and location of the hotspot event in Taiwan has yet to be determined, Lai said, and those details will be discussed among the local public and private sectors.

The 2025 Hotspot hosts on other continents have also been selected, with Slovenia to represent Europe, Ethiopia to represent Africa, and Mexico to represent North America.

An election for South America to choose a host country is planned for later this year, according to the HCH.