Staff Reporter :
Stakeholders on Saturday urged the government to formulate coordinated policy and regulations to foster ecommerce in the country.
Transparent automation, easy regulations, access to finance, inter-ministerial coordination, easy tax structure, cross border digital commerce trade facilitation are key to foster the ecommerce, they said, while speaking at a discussion titled “Building a Sustainable Ecosystem for Ecommerce.”
The Dhaka Chamber of Commerce & Industry (DCCI) organized the discussion virtually.
Speaking at the discussion, DCCI President Rizwan Rahman said that the ecommerce is growing faster in the country despite facing some challenges in the recent time.
“Transaction in the ecommerce sector was estimated around $2 billion in 2020, which may increase up to $2.5 billion in the current year,” he said.
He also said that 15 per cent Value-Added Tax (VAT) imposed on ecommerce sector might hamper the growth of small investors in the sector.
“Moreover, if international market leaders like Amazon arrives in our market, it may create opportunity for local Cottage, Micro Small and Medium Enterprise (CMSME) traders and manufacturers,” the DCCI president added.
Commerce Secretary Tapan Kanti Ghosh said that the government does not want to impose strong regulations upon the sector in order that small entrepreneurs can come on board easily.
“Government is working hard to create a congenial regulatory atmosphere for ecommerce business and review the consumers’ protection law in line with the ecommerce regulations,” he said.
He further said there is a need of a Data Protection Law, and the government is working on automation of its different service providing agencies like RJSC, NBR and after the planned automation, entrepreneurs will get smooth and hassle-free service.
Barrister K M Tanjib-ul-Alam, Head of Chamber of Tanjib Alam and Associates, said the government should upgrade the national postal system so that ecommerce platform can utilize this trusted system.
Fahim Ahmed, President of Pathao said, policy and regulatory guidelines are needed for a sustainable ecosystem.
“For creating infrastructure, technological assistance and confidence of consumers long term investment is needed,” he opined.
Khorshed Anwar, Deputy Managing Director of Eastern Bank Limited, said that small e-commerce, startups or f-commerce entrepreneurs are sometimes deprived of access to finance due to lack of documentation.
“We are working on the issue and arrange training programmes for the small startups,” he added.
Muhammed Abdul Wahed Tomal, General Secretary of e-CAB said that the ecommerce sector has got a tremendous growth in recent time due to Covid-19.
“Ecommerce is an integrated sector, agencies like Bangladesh Bank, NBR, LGRD, Commerce Ministry and ICT Division are involved. So, all the regulations should come under one umbrella in a combined manner,” he suggested.
He also said that the cross border digital trading will be a billion dollar industry in future through the sector.
