With online businesses witnessing rapid growth, the registering process for f-commerce or Facebook-based businesses need to be monitored and made accountable so that consumers' rights are well protected, experts said at a webinar yesterday.

The meeting on "e-commerce and consumer rights in the time of Covid-19" was organised by the Dhaka Chamber of Commerce and Industry (DCCI).

While f-commerce is flourishing, problems of the whole e-commerce sector of Bangladesh needs to be addressed to facilitate their success, said Ghulam Rahman, president of the Consumers Association of Bangladesh (CAB).

Along with the advancement of e-commerce, adequate rules and regulations should be in place, he said.

At present annual e-commerce sales in Bangladesh amounted to about $2 billion and it is increasing at a rate of 50 per cent every year, said DCCI President Shams Mahmud.

Though everyday trade witnessed a reduction during the Covid-19 pandemic in the country, trade of e-commerce has increased remarkably, he said.

Protection of consumer rights is a key factor for a sustainable e-commerce ecosystem in Bangladesh, he said.

Quality, conformity, liability, distribution, secured payment system and price of products are very much linked with consumer rights, he said, recommending bringing the e-commerce sector under the government's stimulus package.

Covid-19 came as a blessing for e-commerce, said Commerce Secretary Jafar Uddin.

In spite of the dissatisfaction arising among consumers from time to time, the market of e-commerce, which includes f-commerce, is growing manifold for its spiralling demand, he said.

In order to utilise its huge potential, a "Digital Cell" has been established under the commerce ministry, he said.

An advisory committee is also working under World Trade Organization Cell of the ministry to ensure consumer-friendly eco-system of digital commerce, he said.

"Through the Digital Cell and e-support centre, we will be able to face the existing challenges of this sector," he added.

In a keynote paper, Syed Almas Kabir, president of the Bangladesh Association of Software and Information Services (BASIS), highlighted that the number of internet users in Bangladesh had increased 5.9 per cent from that of last year.

When it came to the adoption of ICT, Bangladesh is ahead of India and Sri Lanka, he said.

There are 36 million active users of social media networks in Bangladesh and sales through f-commercein Bangladesh amounted to Tk 312 crore, he said.

He further urged to bring f-commerce traders under a registration process so that they could be monitored, regulated and financed.

In 2020, e-commerce experienced a significant 166 per cent growth and by 2023 the market size of this sector will reach $3 billion, he said.

"Before that we need to solve unreliable internet connection, ensure easy payment, user-friendly payment system, improve skilled IT professionals tackle unwanted cyber-attack, enhance technology adaptation…," he opined.

Moreover, the physical infrastructure needs to be built, fiscal and non-fiscal incentives made available and strong regulatory monitoring put in place to take out "bad players" from the market, he opined.

Moreover, he urged for formulation of an e-commerce marketing and advertising policy along with one on data privacy.

Gaining confidence of consumers and giving them a sense of reliability is a challenge, said Fahim Ahmed, president and CFO of ridesharing platform Pathao.

Dominant players may create monopoly in the market, he warned, urging to give benefits to local entrepreneurs so that they could compete with foreign entities.

F-commerce should be regulated as it is not the same as e-commerce, said Syed Mustahidal Hoq, managing director of online marketplace Daraz Bangladesh.

At present 33,000 merchants are working with Daraz, online sales are increasing day by day and the market penetration is quite good, he said.

The ICT division's flagship project Startup Bangladesh has a Tk 500 crore allocation, said Tina Jabeen, managing director and CEO of the state-owned venture capital company.

"We are working to finance the start-ups in Bangladesh. Bangladeshi start-ups are doing well and they need adequate financial support for their sustainable growth," Jabeen also said.

She also urged the local investors to finance and promote e-commerce start-ups as they have to compete with foreign players in the market.  

Bangladesh Bank is trying to bring ease to the documentation process of micro merchants in the e-commerce eco-system, said Mohd Humayun Kabir, executive director of the central bank.

A fair, competitive e-commerce market needs to be ensured, said Md Abdur Rauf of Bangladesh Competition Commission.

Gaining customer satisfaction is difficult, said Bablu Kumar Saha, director general of the Directorate of National Consumer Rights Protection.

He underscored the importance of translating terms and condition of e-trading into Bangla to reduce the scope for fraudulence. "Simultaneously, we have to create awareness among the customers," he added.