Digital Trade Week organised by Merchant Bay, an online B2B trading platform, started on Thursday.
The week-long digital trade event was inaugurated through a webinar session titled "Digital Trade in Global Perspective".World Trade Organisation (WTO) trade policy analyst Mena Hassan, BGMEA President Dr Rubana Huq, Country Director of Japan External Trade Organisation Bangladesh Yuji Ando, Chairman of Policy Exchange of Bangladesh Masrur Reaz, Managing Director of New Vision Solutions Limited Tareq Rafi Bhuiyan joined the event as panelists.
The webinar was hosted by the Managing Director of Merchant Bay Abrar Hossain Sayem.
Speaking on the occasion, Mena Hassan said, “We all know that Digital economy has become the center of our economy. This activity will engage many countries with WTO. With the Access to online so many people from all around the world can work.”
BGMEA Chairman Rubana Haque said “Bangladesh government has trust in digital platform. Bangladesh is in the RMG industry for about four decades. Bangladesh can come up with their own branding. The country has potential to enter digital platform. Digital trade is all about trust.”
There is no alternative to digital trade and all concerned will have to come together to brand nation, she said.
Yuji Ando, Country Director of Japan External Trade Organisation Jetro Bangladesh, said “China's cross-border e-commerce is worth 350 billion. From this, we can easily guess the potential of digital trade. However, it is important for the buyer and supplier to have a trust and transparency.”Chairman of the Policy Exchange of Bangladesh Masrur Reaz said digital trade has become important not only for Covid situation but also for demand of the day.
“The cost of trade in Bangladesh for non-digital trade is quite high. Bangladesh stands 176th out of 190 countries around the world. Bangladesh has more reasons to bring digital trade. There should be new rules and regulations cover for digital trading.”
This is for the first time that such an event is being held in Bangladesh to promote digital trade and initiate digitisation of trade in the readymade garments sector. Merchant Bay, the organiser of the event, hopes that such an event will play an important role in expanding Bangladesh's export sector. The event will run until October 21, 2020.