E-Commerce in Bangladesh

Despite being a under developed country, selected segments of the Bangladeshi business community has embraced technology with reasonable success. Personal computers and the Internet are also emerging as day-to-day business tools. These positive indicators are favoring the prospects of e-commerce in Bangladesh.

• RMG Sector
• Banking on the Web (Online Banking)
• Online Shopping
• Web Hosting, Domain
• Online cards, gifts
• Pay Bill
• Education

Challenges of E-Commerce for Bangladesh:

• Network Infrastructure: Intra-bank and Inter-bank Connectivity, Local and Global, Bank-Client Connectivity, Security of transaction.
• Banking mechanism: Automation, Convertibility of the Bangladesh currency, Retention quota, International credit cards.
• Capacity Building: Human, Technical and Regulatory Quick Settlement, Online credit Information, Skilled e-Manpower, Regulatory Framework 
• Investment
• Legal Infrastructure
• Currency Convertibility: Access to Global Finance
• E-Culture

Why E-Commerce for Bangladesh

With the increasing diffusion of ICTs, more specifically the Internet, the global business community is rapidly moving towards Business-to Business (B2B) e-Commerce. The buyers/ importers gain a clear advantage when the Internet gives them access to the global market, by which they can compare prices across regions, find out whether prices vary by order fragmentation, get awareness about substitute/ alternative products. Consequently, the sellers/ exporters make sure that they are well portrayed in the cyber world through websites and portals. Like buyers, sellers also benefit from increased and more efficient access to the global market through the Internet. Bangladesh is pursuing an economic policy of export-led growth. With the rising forces of globalization, it is becoming increasingly important that the private sector, particularly the export sectors are well prepared to meet the requirements and expectations of the importers and also stand out in the competition against exporters in other countries. In such a scenario, two issues are becoming particularly important for Bangladeshi export sectors –one, whether businesses are automating their internal processes with the use of ICTs to become increasingly efficient and competitive in a global on text, and two, whether businesses have effective presence and participation in the cyber world. International organizations such as UNCTAD (United Nations Center for Trade and Development) and WTO (World Trade Organization) have, over the last several years, put much emphasis on the importance of e-Commerce for developing countries. UNCTAD has special programs to facilitate developing countries to transition into e-Commerce. The WTO has also developed rules and guidelines for global e-Commerce transactions.