E-Commerce and Corona Pandemic in Bangladesh

With the arrival of the latest technologies, a fast-growing e-commerce industry helps Bangladesh to get over its economic fallout thanks to the Covid-19 pandemic.

They were speaking at a virtual discussion styled "E-commerce Ecosystem for All”, with attention on an inclusive ecosystem, organized by leading online marketplace Daraz.

Key areas of dialogue included the expansion of the e-commerce sector as a contribution to Bangladesh's economy, requirements to instigate further growth, creating a smooth operational process, ensuring compliance in terms of operations and delivery, protecting customer interest, its role to draw in new foreign investment, ensure youth employment alongside the event of proper skills, and ensuring industry transparency.

“We have progressed tremendously within the e-commerce sector. the speed is like the progress that was expected three years later. Our e-commerce sector has even played a pivotal role during the pandemic," said Commerce Minister Tipu Munshi.

Owing to e-commerce businesses, it had been possible to succeed in needy people with products of the Trading Corporation of Bangladesh during the pandemic, he also said.

The government has ensured three things that are prerequisites for the expansion of e-commerce – access to high-speed internet, digital payment system, and trust, said the ICT State Minister Zunaid Ahmed Palak.

E-commerce has also played a task in balancing the participation of girls within the ICT sector. due to different e-commerce sites like Daraz entrepreneurs can now sell local products to foreign buyers, he also said.

"We want an ecosystem-friendly policy which will help grow the world. Three points should be covered within the policy – implementation of a simple process meant for the convenience of the purchasers, issues associated with cross-border e-commerce, also as the inclusion of these in import and export policies, and proper address of the challenges of online payment systems," said Syed Mostahidal Hoq, director of Daraz Bangladesh.

"If we will do so, e-commerce sites will have 5 crore customers and be ready to create more employment by 2025," said the Daraz MD.

However, the discussants underscored the need of drafting an e-commerce policy to form sure that the world grows in a systematic and harmonious way, and other people involved during this industry get the prospect to tap into the potential of this sector.