Fashion
Defer LDC graduation by 3-5 years, demand Bangladesh trade bodies
In a press conference organised yesterday by the International Chamber of Commerce (ICC) Bangladesh and 15 other trade bodies, ICC Bangladesh president Mahbubur Rahman said: “Our entrepreneurs and business chambers strongly support graduation. However, we stress the need for a three- to five-year extension.”
Top trade bodies in Bangladesh have called for delaying the country’s scheduled graduation from the LDC status by five to six years.
Though Bangladesh has fulfilled all three UN criteria, the graduation will bring with it new responsibilities and risks, and therefore, careful preparation is needed to ensure the transition leads to lasting success, ICC Bangladesh president Mahbubur Rahman said.
Though Bangladesh has fulfilled all three UN criteria—gross national income, human assets index and economic vulnerability index—in two consecutive reviews, such a graduation will bring with it new responsibilities and risks, and therefore, careful preparation is needed to ensure the transition leads to lasting success, Rahman said.
Risks include the possible loss of duty-free market access in key export destinations where tariffs of up to 12 per cent could be imposed, and that may lead to a 6-14 per cent drop in exports, he said.
“The press conference expressed optimism that the extended period would provide greater scope for export diversification, development of skilled manpower in automation and artificial intelligence (AI), and building capacity to face future challenges, thereby ensuring sustainable competitiveness in the global market,” the Bangladesh Knitwear Manufacturers and Exporters Association (BKMEA) posted on Facebook.
The business leaders also raised concerns over the end of special and differential treatment by the World Trade Organization (WTO). “This will make patent rules stricter for the pharmaceutical sector and increase compliance costs,” Rahman cautioned.
Rahman noted that several countries had deferred their LDC graduation in the last.
The proposed five- to six-year deferment would offer Bangladesh the time to secure trade deals with several countries and economic blocs, he added.
Fibre2Fashion News Desk (DS)
Fashion
Italy’s Prada explores layered identities for Fall/Winter 2026
A manifestation of how clothes are truly worn, in daily life, their layering here is simultaneously representative of a layering of histories, personal and collective, of memories and experiences. They express a notion of self-determination, agency. Equally, a defined cast of 15 women draws our attention to each within these evolving clothes – it allows an exploration of the infinite, ever-shifting facets of her character. Paradoxically, an apparent simplification can serve to convey complexities.
Prada’s Fall/Winter 2026 collection by Miuccia Prada and Raf Simons explores layering as both a physical and emotional language.
Blending tailoring, sportswear and archival references, the clothes reflect shifting identities, memory and self-determination.
A cast of 15 women embodies evolving character, while aged fabrics and embedded histories echo the multi-century artworks staged at Fondazione Prada.
Perspectives transmute, both in transposition of garment types and their non-hierarchical mixing. Clothes are layered with precision – tailoring, sportswear, embroidered satin dresses, contradictory compositions that also speak to a distinctly Prada language of fashion. Fragments and fractures excite curiosity. Mutations from within, visible to the exterior, anticipate that which may lie beneath.
Fabrications fuse disparate identities, superimposed materials eaten away as a means of revelation. Archival dresses, like memories, can be embedded within other minimal garments – layers discovered, within layers. A passage of time is implied through demarcation and patinating, materials intentionally faded, precious embroideries aged, a new approach to decoration. They have lived.
In an echo of these ideas, the Deposito of the Fondazione Prada is populated by original artworks, significant furniture and objects: tapestry and a painting from the 16th and 17th centuries, 18th century Venetian mirror and consoles; chairs, lamps, and paintings from the 1900s. These artefacts span five centuries, divergent cultures, different places. Like the clothes, their meaning is layered, inherently personal, intimate, and filled with ceaseless possibilities.
Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (RM)
Fashion
Iran war raises new credit risks for emerging market sovereigns: Fitch
Hydrocarbon exporters could see positive effects. Under Fitch’s baseline scenario, in which the effective closure of the Strait of Hormuz lasts less than a month and major damage to the region’s oil production infrastructure is avoided, risks to emerging market ratings should be contained, but a longer closure or more sustained effects could lead to a more substantial impact.
Iran war could raise additional challenges for some emerging market sovereigns, through such channels as energy imports, remittances, fiscal subsidies, exchange rates and access to international finance, Fitch Ratings has said.
Hydrocarbon exporters could see positive effects.
Prolonged higher energy prices would also raise fiscal strains for governments that have subsidy regimes to shield consumers.
Net fossil fuel imports are large as a share of gross domestic product (GDP) for many small emerging markets. Among the larger economies, Fitch estimates they are equivalent to 3 per cent or more of GDP for Chile, Egypt, India, Morocco, Pakistan, the Philippines, Thailand and Ukraine.
Vulnerabilities to higher import costs will be most acute in markets with already stretched financing capacity, such as Pakistan, or with significant current account deficits.
In December 2025, Fitch had anticipated a significant current account deficit this year in Ukraine (15.4 per cent), with moderate deficits for the Philippines (3.4 per cent) and Egypt (3.0 per cent).
More protracted high energy prices could add to external strains facing these sovereigns, especially if other stresses emerge, for example, disruption to remittances. External finance risks will be limited where sovereigns are running current account surpluses, as in Thailand.
Prolonged higher energy prices would also increase fiscal strains for governments that have subsidy regimes designed to shield consumers, or that launch similar measures in response to higher energy prices, Fitch Ratings said in its release.
A more sustained disruption to global energy supplies from the Gulf than envisaged under Fitch’s baseline scenario could significantly damage global investor sentiment which would result in a stronger US dollar and weaken the market for debt issuance, particularly for highly speculative-grade issuers. Higher energy prices could put upward pressure on inflation, affecting monetary policy decisions globally.
These factors are likely to increase the effective cost of servicing and refinancing debt for emerging market sovereigns.
However, many frontloaded a significant share of their planned foreign-currency issuance for the year in January-February, enhancing their flexibility against temporary market volatility.
Weaker non-oil activity in Gulf Cooperation Council (GCC) states, reflecting damage to logistics and tourism sectors, will hurt countries where exports to the affected region, or remittance flows from it, are a significant economic driver.
Azerbaijan, Iraq and Turkiye could be affected if instability in Iran leads to a major outflow of refugees.
For emerging market net hydrocarbon exporters outside the Gulf, such as Angola, Argentina, Azerbaijan, Brazil, Colombia, Ecuador, Gabon, Kazakhstan, Nigeria and Republic of Congo, a prolonged period of higher energy prices could lead to an export and fiscal windfall, Fitch Ratings added.
Fibre2Fashion News Desk (DS)
Fashion
BGMEA seeks clarity from US on trade deal’s duty-free access mechanism
BGMEA president Mahmud Hasan Khan raised the issue with US ambassador to Bangladesh, Brent T Christensen during a meeting at the association’s office in Dhaka.
Following the US-Bangladesh trade agreement signed recently, trade body BGMEA sought a clarification on how duty-free access for garments produced using American cotton will work in practice.
The Office of the USTR is working on the mechanism, US envoy to Bangladesh Brent T Christensen responded.
BGMEA also called for US investment in his country’s energy sector to support the expanding industrial base.
The Office of the US Trade Representative (USTR) is working on the mechanism now, Christensen responded.
The agreement, he hoped, would boost American cotton exports to Bangladesh, according to domestic media reports.
The meeting also discussed business uncertainties arising out of recent tariff volatility. Christensen expressed confidence that stability would return soon.
Khan also called for US investment in his country’s energy sector to support the expanding industrial base. As a short-term solution, he suggested US investment in LNG infrastructures, while in the long term, he deemed US technology and investment necessary to enhance domestic gas exploration and extraction.
Christensen said US investors would be interested if Bangladesh adopts a stable, long-term energy policy.
The meeting also included detailed discussions on labour law and the proposed new labour ordinance.
Fibre2Fashion News Desk (DS)
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