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Dhaka Tribune

Walton aims for $1bn export earnings within 10 years

Company insiders said that these centers will allow them to innovate and create new designs and superior quality products to display in international trade fairs

Update : 30 Oct 2018, 10:22 PM

Local electronics giant Walton has decided to expand its business to international markets and $1 billion from exports by 2028. 

According to a press release, the company has already begun recruiting international business experts, and opening offices in various countries, while also setting up global research and development centers and branch offices in Germany, United Kingdom, China, UAE, Taiwan, and Thailand, to achieve the target.

Company insiders said that these centers will allow them to innovate and create new designs and superior quality products to display in international trade fairs.

 Business experts opined that international markets are open for Bangladeshi products and the country has possesses the ability to lead the global electronics market. 

Many global brands who are selling products in United States and other countries buy them from China. However, recent trade tensions between US and China is leading those brands to seek new business partners from other Asian countries. 

Keen on building a long term business relationship with Walton, officials from some of these companies have already visited Walton’s production plant in Gazipur. 

President of Walton’s International Business Unit Edward Kim said “it is time for the company to go global”. 

“Our initial target is to earn $100 million by 2022, through exporting electronic and electrical goods, and parts,” explained Edward, adding that they are on track of achieving their long-term target of earning $1 billion within 2028.

Deputy Executive Director of Walton Uday Hakim said: “Bangladesh’s export earnings are highly dependent on garment, leather and jute goods. But we have a huge scope of accelerating the earnings by exporting electronic products and parts.”

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