The market size of e-commerce in the country in Bangladesh at present is of about $ 2 billion and it is increasing at a rate of 50 percent every year, speakers observed at a webinar on Tuesday.
They said despite general trading in COVId-19-led pandemic situation reduced in the country, but the e-commerce trading has increased remarkably. Protection of consumer rights is a key factor for a sustainable e-commerce ecosystem in Bangladesh, he told. Quality, conformity, liability, distribution, secured payment system and price of products are very much linked with consumer rights.
Dhaka Chamber of Commerce & Industry (DCCI) organized the webinar on `e-Commerce and Consumer Rights in the time of Covid 19: Challenges & Way Forward’.
Secretary, Ministry of Commerce Dr. JafarUddin joined as the chief guest while GhulamRahman, President, Consumers Association of Bangladesh (CAB) joined as special guest.
DCCI President Shams Mahmud moderated the webinar.
DCCI President, while delivering his welcome address urged the government to bring e-commerce sector under government’s stimulus package.
He further suggested to strengthen BSTI, reduce VAT and supplementary duty on e-commerce businesses at a logical level, ease conditions of licensing to formalize e-commerce entities, introduce 5G technologies and arrange trainings for e-commerce based SME entrepreneurs. For effective implementation of National Digital Commerce Policy-2018, capacity building of concerned stakeholders and their institutional capabilities need to be enhanced, he finally added.
Dr. JafarUddin, Secretary, Ministry of Commerce said Covid-19 came to us as blessings for e-commerce business. In spite of having dissatisfaction among the consumers, despite the market of both e-commerce and f-commerce are growing manifold for their incremental demand. In order to utilize its huge potentials, a Digital Cell has been established in the Ministry of Commerce.
An Advisory Committee is also working under WTO cell of Ministry of Commerce to ensure consumer-friendly digital commerce eco-system. Through the Digital Cell and e-support centre, we will be able to face the existing challenges of this sector, he added.
GhulamRahman, President, Consumers Association of Bangladesh (CAB) said that we need to address the problems of e-commerce to facilitate its success. F-commerce is also flourishing in the country. He said registration system for f-commerce is needed to bring them under monitoring and accountability. Along with the advancement of e-commerce, adequate rules and regulations should be in place, he added.
Syed Almas Kabir, President, BASIS in his keynote paper highlighted that internet users in Bangladesh have increased 5.9% compared to last year. In context of ICT adoption index, Bangladesh is ahead of India and Sri Lanka. There are 36 million active social media users in our country and the f-commerce market size in Bangladesh is of taka 312 crore.
Fahim Ahmed, President & CFO, Pathao Ltd. said that it is challenging to gain confidence and reliability of consumers. Dominant player may create monopoly in the market. He also urged to facilitate local entrepreneurs so that they compete with other foreign entity.
Syed MustahidalHoq, Managing Director, Daraz Bangladesh Ltd. said that f-commerce should be regulated as it is not same as e-commerce. He said at present 33,000 merchants are now working with Daraz. Online selling is increasing day by day and the market penetration is quite good, he mentioned.
Tina Jabeen, Managing Director & CEO, Startup Bangladesh Ltd. said that the organization has a 500 crore taka allocation and it is a flagship project of ICT division of the government. We are working to finance the startups in Bangladesh, she said.
Mohd.HumayunKabir, Executive Director, Bangladesh Bank said we are trying to facilitate micro merchants in the e-commerce eco-system by easing their documentation process.
DCCI Senior Vice President NKA Mobin, FCA, FCS and Vice President Mohammad Bashiruddin, Directors AlhajDeen Mohammad and EnamulHaquePatwary also joined the webinar.
