Dhaka, June 17 -- The ongoing conflict between Iran and Israel may pose a fresh challenge to Bangladesh's readymade garment (RMG) sector by increasing the cost of doing business, warned Mahmud Hasan Khan Babu, the newly elected president of the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).

Speaking during his inaugural address at the BGMEA office in Dhaka on Monday, Babu said the Middle East conflict could lead to a surge in global oil prices, which would, in turn, escalate operational expenses for Bangladesh's key export industry.

"Rising oil prices will increase our transportation, production, and utility costs," Babu noted. "We must prepare for external shocks while strengthening internal efficiencies."

The new...