Singapore has assured Bangladesh of extending its utmost cooperation to build an ecosystem for the development of the e-commerce sector.  

The Ministry of Trade and Industry of Singapore gave the assurance while a Bangladesh delegation led by State Minister for ICT Zunaid Ahmed Palak sat in a meeting at the ministry on Thursday. 

It also discussed bilateral trade, business operation, and management, the safety of business information, digital platform based on artificial intelligence, cross-border payment system, and the highest security of data.

In the meeting, Zunaid Ahmed Palak presented the latest progress in the e-commerce sector of Bangladesh to the representatives of Singapore.

Mentioning that the e-commerce sector has been expanding in through onlin banking, electronic money transfer, and using ATM cards, he said the size of e-commerce sector in Bangladesh was Tk 8,500 crore before March, 2020 and it has doubled during the Covid pandemic.

The market of e-commerce might reach Tk 25,000 crore within 2023, added the state minister. 

Director, Emerging Markets Division at Ministry of Trade and Industry, Singapore Magdalene Loh, Global Adviser, Women and E-commerce Forum (WE) Saumya Basu, and President, WE, Nasima Akter Nisha, were, among others, present at the meeting.