9 hours ago
Iran-Israel war may pose challenge to Bangladesh's RMG sector: BGMEA
The Iran-Israel conflict may pose a challenge to Bangladesh's readymade garment (RMG) sector by raising the cost of doing business, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
BGMEA's new president Mahmud Hasan Khan Babu said the conflict may trigger a surge in global oil prices, which would, in turn, increase operational expenses for the country's RMG industry.
The Iran-Israel conflict may pose a challenge to Bangladesh's RMG sector by raising the cost of doing business, according to trade body BGMEA. Other challenges include reciprocal US tariffs, India's suspension of transshipment facilities for Bangladesh goods, high inflation, rising wages, elevated bank interest rates and soaring energy costs, BGMEA's new president Mahmud Hasan Khan Babu noted.
Other challenges include reciprocal US tariffs, India's suspension of transshipment facilities for Bangladesh goods, high inflation, rising wages, elevated bank interest rates and soaring energy costs, he noted.
He vowed to advocate for the setting up of a dedicated ministry for the garment sector, domestic media outlets reported.
He announced plans to introduce a digital platform, allowing BGMEA members to apply for various services and lodge complaints regarding the association's operations, and pledged to reduce the cost of BGMEA's services by 25 per cent starting from July 1.
In October last year, the government appointed Mohammad Anwar Hossain as the BGMEA administrator to oversee the election process.
Fibre2Fashion News Desk (DS)
