E-commerce policy in the offing

The e-commerce policy, which contains a provision that will allow foreign companies to invest and operate e-commerce businesses in the country in collaboration with local firms, is almost ready, said Posts, Telecommunications and Information Technology Minister Mustafa Jabbar.

“The policy will work effectively to protect the rights of consumers,” Mustafa Jabbar told The Independent.

A central cell will be formed under the ministry to implement the e-commerce policy, which will publish a list of e-commerce companies on its website, according to Jabbar.

This cell will take all necessary measures to identify different challenges like piracy and hacking. The cell will take steps to control fraudulence and all kinds of cyber crime.

According to the draft, if any kind of e-commerce-related crime is identified, measures will be taken under the traditional law of the country.

The e-Commerce Association of Bangladesh (e-CAB) was originally formed to improve the e-commerce sector of the country. According to the Facebook group of e-CAB, e-commerce has been in Bangladesh since the late 1990s.

“Today, over 715 firms are members of e-CAB, which delivered 30,000 products in 2017 and transacted Tk. 1,800 crore. In addition, there are 1,000 e-commerce-based sites and 10,000 Facebook pages that run online-based businesses.” said Razib ahmed, former president e-CAB.

The government took steps in 2016 to design a separate policy for e-ecommerce to help the sector flourish as well as to curb fraudulence. E-CAB prepared the draft of the policy, as instructed by the ICT Division, and handed it over to the division in August 2016. Later, e-CAB formulated the third draft of the policy in 2018.  

Zunaid Ahmed Palak, state minister for ICT, said the e-commerce market is growing quickly all around the world and proper regulation is required to propel further growth. “We are working with all the stakeholders in the sector to make it flourish,” he added.

Palak said the policy will be sent for approval to the Cabinet shortly. He hoped, “We will be able to build up a strong e-commerce sector after the adoption of the policy.” He also expressed his hope that e-commerce companies, including Amazon and Alibaba, the biggest global e-commerce players, will start doing business in Bangladesh.

In the set of draft guidelines, a specific code of conduct has been formulated to ensure the rights of the consumers.

Furthermore, Abdul Wahed Tomal, general secretary of e-CAB, said that in order to protect local entrepreneurs and make their businesses flourish, the policy recommended to them to go in for joint ventures with foreign companies. He stated that e-CAB had submitted the draft policy to the ICT Division after holding over 30 meetings on the topic of e-commerce policy.

Though the e-commerce industry in Bangladesh experienced slow growth during its inception, it has witnessed a major rise in popularity in the last five years. E-commerce has become a billion-dollar industry today and has created jobs for thousands.

 

E-commerce policy in the offing

The e-commerce policy, which contains a provision that will allow foreign companies to invest and operate e-commerce businesses in the country in collaboration with local firms, is almost ready, said Posts, Telecommunications and Information Technology Minister Mustafa Jabbar. The policy will work effectively to protect the rights of consumers, Mustafa Jabbar told The Independent. A central cell will be formed under the ministry to implement the e-commerce policy, which will publish a list of e-commerce companies on its website, according to Jabbar. This cell will take all necessary measures to identify different challenges like piracy and hacking. The cell will take steps to control fraudulence and all kinds of cyber crime. According to the draft, if any kind of e-commerce-related crime is identified, measures will be taken under the traditional law of the country. The e-Commerce Association of Bangladesh (e-CAB) was originally formed to improve the e-commerce sector of the country. According to the Facebook group of e-CAB, e-commerce has been in Bangladesh since the late 1990s. Today, over 715 firms are members of e-CAB, which delivered 30,000 products in 2017 and transacted Tk. 1,800 crore. In addition, there are 1,000 e-commerce-based sites and 10,000 Facebook pages that run online-based businesses. said Razib ahmed, former president e-CAB. The government took steps in 2016 to design a separate policy for e-ecommerce to help the sector flourish as well as to curb fraudulence. E-CAB prepared the draft of the policy, as instructed by the ICT Division, and handed it over to the division in August 2016. Later, e-CAB formulated the third draft of the policy in 2018. Zunaid Ahmed Palak, state minister for ICT, said the e-commerce market is growing quickly all around the world and proper regulation is required to propel further growth. We are working with all the stakeholders in the sector to make it flourish, he added. Palak said the policy will be sent for approval to the Cabinet shortly. He hoped, We will be able to build up a strong e-commerce sector after the adoption of the policy. He also expressed his hope that e-commerce companies, including Amazon and Alibaba, the biggest global e-commerce players, will start doing business in Bangladesh. In the set of draft guidelines, a specific code of conduct has been formulated to ensure the rights of the consumers. Furthermore, Abdul Wahed Tomal, general secretary of e-CAB, said that in order to protect local entrepreneurs and make their businesses flourish, the policy recommended to them to go in for joint ventures with foreign companies. He stated that e-CAB had submitted the draft policy to the ICT Division after holding over 30 meetings on the topic of e-commerce policy. Though the e-commerce industry in Bangladesh experienced slow growth during its inception, it has witnessed a major rise in popularity in the last five years. E-commerce has become a billion-dollar industry today and has created jobs for thousands.