US retail giant Walmart has expressed keen interest in expanding its sourcing from Bangladesh, going beyond garments to include electronic products, agricultural goods, packaged spices, jute goods, and even man-made fiber garments.
During a meeting with Salman F Rahman, the Prime Minister’s advisor on private industries and investment, Walmart’s executive vice-president for sourcing, Andrea Albright, confirmed their commitment to Bangladesh.
While they have been sourcing garments for years, Albright admitted a decrease during the pandemic but assured a rise in volume soon. She expressed hope to diversify their sourcing basket with Bangladesh’s diverse offerings.
Currently, Walmart stands as the second-largest international garment buyer from Bangladesh, following H&M. Both companies source billions of dollars worth of garments annually, demonstrating the country’s potential.
The meeting comes amidst Bangladesh’s economic recovery from the pandemic and the Ukraine war. With its commitment to ethical sourcing and global standards, Bangladesh appears well-positioned to capitalize on Walmart’s renewed interest.