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A red-hot Middle-East turmoil fuelled by the Iran-Israel war may affect Bangladesh's garment business as global oil prices could spike and increase operational costs locally.
And such production-cost escalation would bite trade returns on the country's cardinal export product-readymade garments or RMG, the bigger one of two pillars of foreign-exchange reserves, after remittance.
"The Iran-Israel war could be a new challenge for the local garment industry that could result in rise in global oil prices. And sustaining the competitiveness amid such situation could be very challenging," says Mahmud Hasan Khan Babu, the newly elected president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA).
He made the remark at the charge-handover ceremony of the BGMEA held Monday at its Uttara office in the capital.
The newly elected BGMEA board of directors led by president Mahmud Hasan Khan took charge of the trade body for the term 2025-2027.
Outgoing administrator Anwar Hossain and the members of Support Committee of BGMEA handed over the responsibility to Mr Khan and the new board, in a transition from the stop-gap arrangement made following the July-August political changeover.
The new office bearers include first vice-president Salim Rahman, senior vice-president Inamul Haq Khan and vice-presidents Mijanur Rahman, Md Rezwan Selim, Vidiya Amrit Khan, Md Sehab Udduza Chowdhury and Mohammad Rafique Chowdhury.
The other Board-of-Directors members from Dhaka are Shah Rayeed Chowdhury, Mohammed Abdur Rahim, Faisal Samad, Md. Hasib Uddin, Mohammed Abdus Salam, Nafis-Ud-Doula, Sumaiya Islam, Fahima Akhter, Majumdar Arifur Rahman, Anwar Hossain Chowdhury, Sheikh Hossain Muhammad Mustafiz, Kazi Mizanur Rahman, Joarder Mohammed Hosne Quamar Alam, A.B.M. Shamsuddin, Asef Kamal Pasha, Dr. Rashid Ahamed Hossaini, Faruque Hassan, Rumana Rashid, Mohammed Sohel and Samiha Azim while Directors from Chattogram include Md. M. Mohiuddin Chowdhury, Syed Mohammed Tanvir, Sakeef Ahmed Salam, Md. Shaif Ullah Mansur, Enamul Aziz Chowdhury, SM Abu Tayyab and Rakibul Alam Chowdhury.
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