Walmart leans towards Bangladesh, to ramp up sourcing

Albright conveyed this during a meeting with Salman F Rahman, the Prime Minister's adviser on Private Industries and Investment, held at Rahman’s office in capital Dhaka.

Highlighting Walmart’s longstanding sourcing of garment items from Bangladesh, Albright acknowledged a temporary reduction in volume during the COVID-19 pandemic.

She, however, expressed optimism about increasing the quantity of garment items sourced from Bangladesh in near future, with potential diversification into other product categories as well.

Accompanying the Walmart’s executive vice-president of sourcing at the meeting were Paul Dyck, Walmart’s vice-president on Global Government Affairs and Business Diplomacy, and other senior officials.

The adviser to Prime Minister Sheikh Hasina, on his part, urged Walmart to expand its sourcing spectrum in Bangladesh, encompassing electronic items, agricultural products, packaged spices, jute goods, and garments made from manmade fibres.

Rahman underscored the global compliance standards maintained by Bangladesh’s garment manufacturing units, emphasising enhanced workplace safety measures even as he noted that many factories have met the world’s highest compliance standards, signifying the industry’s commitment to quality and safety.

Currently, Walmart ranks as Bangladesh’s second-largest international garment buyer, trailing only Swedish retail giant H&M.

The retail behemoth procures nearly $4 billion worth of garment items annually from Bangladesh, while H&M’s annual sourcing exceeds $4 billion.

Rahman also provided insights into Bangladesh’s economic resilience amidst challenges like the COVID-19 pandemic and the Russia-Ukraine conflict. He highlighted the nation’s rebounding economy and emphasised the potential for strengthened collaboration with international partners like Walmart.

Fibre2Fashion News Desk (DR)