State Minister for ICT Zunaid Ahmed Palak yesterday said Bangladesh is in the process of establishing digital economy, and e-commerce will play an important role towards that goal. “Transaction-wise, the e-commerce market size is very nominal now, but it will be much higher after two to three years, and by 2021, Bangladesh will reach a notable position,” Palak said at the launch of a new e-commerce site — soldier71.com. India started e-commerce ten years ago, and its transactions will hit the $100-billion mark within two years, he said. “We have just started the online trading process. The country has more than two crore middle-income and affluent consumers who are ready to take the benefits of e-commerce.” There will be at least five crore such customers in five years, he said, adding that currently there are 500-700 e-commerce sites in Bangladesh. “Try to expand your market so you can meet demands from abroad as well,” Palak said. “You can target expatriates.” There are about one crore Bangladeshi expatriates in different countries. Razib Ahmed, president of e-commerce Association of Bangladesh, said: “Despite challenges, some of our members will expand operations abroad within a few years.” Trust is a key factor to expand the e-commerce market, and entrepreneurs need to prove their credibility first, said Md Helal Uddin, a former vice-president of the Federation of Bangladesh Chambers of Commerce and Industry. The site will give priority to the products of ethnic people, said Md Sharif-Ul-Alam, chief executive of soldier71.com.
