Volume of Kyrgyzstan’s e-commerce market estimated at $200-300 million

The volume of the e-commerce market of Kyrgyzstan reached $200-300 million this year. The World Bank expert Yaroslav Eferin said at e-Commerce EXPO 2023 Forum.

According to him, the e-commerce market is huge and it will grow. Global online sales in 2023 are estimated at $6 trillion. The figures are still modest in the Kyrgyz Republic, but the market is growing very fast.

«This is happening in part due to the efforts of local players, the E-Commerce Association and its members. The World Bank sees great prospects in this market. We are stepping in to speed up the processes, to ensure the development of the e-commerce market. We are working on the main directions now: the research part (creation of an index of readiness for the development of e-commerce), attracting sellers to international platforms (Amazon, Alibaba, EBay), help with the export of products from Kyrgyzstan to other markets and support for reforms, regulatory changes,» Yaroslav Eferin said.

He also noted that it is important to establish interaction between all players of the e-commerce market in all Central Asian countries.

Yaroslav Eferin added that the e-commerce readiness index is being developed to understand the regulatory and investment opportunities for each individual region within the state. This will make it possible to see what aspects need to be strengthened and where. In addition, work is also being done at the district level. Based on the results of the work, it will be possible to understand the performance for each indicator in each district in the state. The index itself will be published next year.

Source: 24.kg News Agency