The size of e-commerce market in Bangladesh would reach $3 billion by 2023, speakers said at a webinar on Tuesday.
They mentioned that the e-commerce business experienced a significant 166 per cent growth this year.
Currently, the size of the e-commerce market in Bangladesh is about $2.0 billion and it is increasing at a rate of 50 per cent every year, the speakers said at the webinar, titled ‘E-Commerce and Consumer Rights in the time of Covid-19: Challenges and Way Forward’, organised by Dhaka Chamber of Commerce and Industry (DCCI).
Commerce Secretary Dr Jafar Uddin joined the webinar as the chief guest while President of the Consumers Association of Bangladesh (CAB) Ghulam Rahman joined it as the special guest. DCCI President Shams Mahmud moderated the webinar, reports BSS.
Jafar Uddin said the commerce ministry has established a digital cell to utilise the huge potentials of the e-commerce business.
“An Advisory Committee is also working under WTO cell of Ministry of Commerce to ensure consumer-friendly digital commerce eco-system,” he added.
At present, the size of the e-commerce market in Bangladesh is around $2.0 billion and it is increasing at a rate of 50 per cent every year,” Shams Mahmud said in his welcome address.
As the conventional trading in COVId-19-led pandemic situation reduced in the country, the e-commerce trading has increased remarkably, he added.
He said protection of consumer rights is a key factor for a sustainable e-commerce ecosystem in Bangladesh.
“Quality, conformity, liability, distribution, secured payment system and price of products are very much linked with consumer rights,” he added.
Ghulam Rahman said that they need to address the problems of e-commerce to facilitate its success.
“F-commerce is also flourishing in the country. Registration system for f-commerce is needed to bring them under monitoring and accountability,” he added.
Along with the advancement of e-commerce, he said, adequate rules and regulations should be in place, he observed.