Dhaka, June 16 -- The ongoing conflict between Iran and Israel might affect the country's readymade garment business as the global prices of oil could rise due to the war, causing a hike in operational costs locally.

"The Iran-Israel war could be a new challenge for the local garment industry, that could result in a rise in global oil prices. And sustaining the competitiveness amid such a situation could be very challenging," Mahmud Hasan Khan Babu, the newly elected president of Bangladesh Garment Manufacturers and Exporters Association (BGMEA), said on Monday.

He made the remark at the charge handover ceremony of the BGMEA held at its Uttara office in the city.

The newly elected BGMEA board of directors, led by its president Mahmud H...