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E-transactions hit 15 billion

Bahrain Business
Fri, 01 Apr 2016

Manama: E-commerce transactions among institutions and individuals in the Middle East are estimated at 15 billion last year from almost 90 million users in the region, Industry, Commerce and Tourism Minister Zayed Al Zayani has said.

“The e-commerce sector which includes companies that sell physical products online such as electronics, clothing and appliances is the second sector in term of volume right after airlines, travel and tourism, where its volume totalled $7bn in 2014 and is expected to double in the next five years to $13.4bn in 2020,” said Mr Al Zayani during the opening of the third eCommerce Forum and Exhibition for Trading Establishments 2016.

Held at the Crowne Plaza Hotel, the aim of the forum, said the minister, was to highlight the role of the ministry in the promotion of business owners, businessmen and investors towards improving the performance of the Bahraini e-market to occupy its rightful place on the map against its successful counterparts in the global markets.

“Organising such events ensures the ministry’s ambitious and futuristic vision in promoting the e-service industry in the Bahrain and its core which is e-commerce in various categories in order to improve up to the level offered by leading companies in this field in the global markets,” he said.

“Our success in achieving this goal is dependent on the responsiveness and reaction of the private sector for such initiatives in addition to the willing of directly practising, or offering contribution by investing in projects related to this field by the private sector.”

The minister has also ensured the importance of engagement in e-commerce activities, because it provides many dynamic opportunities that will help the exchange of experience and information in various applications, aiming to enable the Bahraini society to address the global e-market as a capable productive partner and prepare for dealing with e-market.

The event was organised in liaison with Bahrain Technology Companies Society as the strategic partner and sponsored by GPIC.