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Walton targets $1B export earnings within 10 years

Augustin Sujan : risingbd.com
 
     
Publish on: 2018-10-30 5:33:46 PM     ||     Updated: 2018-11-06 10:43:52 AM

Economic Reporter: Local electronics giant Walton has emphasized on expanding its business in international market and targets to earn one billion US dollars from exporting Bangladesh made products and parts by 2028. To achieve the target, Walton has strengthened its international business wing recruiting worldwide business experts and opening offices in various countries along with setting up global R&D and design centers for innovative designs of quality products and participating in international trade fairs.

According to business experts, huge markets are open for Bangladeshi products around the world and the country has abilities to lead the global electronics market. Many global brands who are selling products in United States and other countries buy them from China. But recent trade tensions between US and China leads those brands to seek new business partners from other Asian countries. Bangladesh has abilities to grab that opportunity.


The file photo- the buyers and visitors from different countries are seeing the world-class electronics and electrical appliances at Walton Pavilion at Canton Fair in China.

Sources said, more and more business partners from different countries are visiting Walton’s gigantic production plant in Chandra of Gazipur. They are very keen to set long term business relationship with Walton and the Bangladeshi vertically integrated manufacturer has huge potentialities to be the partner for them. They are surprised by observing that Bangladesh is manufacturing compressors, refrigerators, air conditioners and other technology products with the innovative designs and quality.

Targeting the global market, Walton is participating and showcasing its products and services in many international business conferences, trade fairs etc. Walton already took part in Canton Fair in China, Logos Fair in Nigeria, Electronic Fair in UAE and Kenya (KITE); most recently Chillventa Exhibition in Germany and now planning to attend world’s popular consumer electronics festivals including IFA fair in Berlin and CES in Las Vegas.


The file photo- Walton is manufacturing international standard refrigerators for export at Walton Hi-Tech Industries Limited in Chandra, Gazipur.

Walton is also setting up global R&D centers and branch offices in many countries including Germany, United Kingdom, China, UAE, Taiwan and Thailand along with recruiting global talents who will be the representatives of Walton and Bangladesh as well.

The file photo- the buyers and visitors from different countries are seeing the world-class electronics and electrical appliances at Walton Pavilion at Canton Fair in China.

Edward Kim, President of Walton’s International Business Unit (IBU) said, Walton undoubtedly is the top brand in Bangladeshi electronic market but it’s time for us to go global. Our initial target is to earn 100 million dollars exporting electronic and electrical goods and parts by 2022 along with long term target of earning 1 billion dollars within 2028 and we are on the track.



‘We are trying to nurture brand presence in the international market through sustainable partnership with customers while focusing on OEM (Original Equipment Manufacturer) business to drive the business volume and also to enhance our product quality management which is an assurance to customers. We believe these two approaches along with the new concept and innovation will make Walton as a global player in step by step,’ Mr. Kim highlighted.



Meanwhile, Uday Hakim, Deputy Executive Director of Walton, said, Bangladesh’s export earnings highly depend on garment, leather and jute goods. But we have huge scope of accelerating the earnings by exporting electronics and technology products and parts. Walton is carrying the ‘Made in Bangladesh’ label in world standard electronic products and parts around the globe for which we need support from government and others players.


risingbd/Dhaka/Oct 30, 2018/Augustin Sujan/AI