At the B5+1 forum, the President of the Association of E-Commerce of Kyrgyzstan, Aibek Kurentkeev, discussed the development of the digital economy and cooperation in e-commerce in the region.
Kurentkeev noted that the Central Asian countries are showing some of the highest growth rates in digitalization, which is due to shared historical, cultural, and economic ties, as well as active experience exchange among the states in the region.
Currently, the Association includes about 50 companies that are leading players in retail, online trading, marketplaces, and logistics. The total turnover of these companies exceeds $2.5 billion, which accounts for approximately half of the entire e-commerce market in the country.
According to data, the domestic turnover of e-commerce reaches about $600 million per year, and considering cross-border operations, it approaches $1 billion. The average annual growth of the sector is about 15%, and the share of e-commerce in retail turnover has already reached 10-11% and continues to increase.
Aibek Kurentkeev emphasized that such achievements have become possible thanks to the coordinated work of the government, the financial sector, and businesses. These efforts have led to the receipt of so-called "digital dividends," which are noticeable in all Central Asian countries.
Particular attention was paid to the development of payment infrastructure. Both international and national payment systems are successfully operating in Kyrgyzstan, and interoperability is actively developing. Integration with Kazakhstan has been completed, work continues on expanding transfers with Uzbekistan, and interest in cooperation with Tajikistan and other neighbors is growing.
At present, the main issues concern logistics and the administration of domestic trade. Nevertheless, digital product cards and national databases have already been created in all countries, allowing for quick integrations between marketplaces.
According to the Association's leader, in the coming months, Kazakh goods will be available on Uzbek marketplaces, and Uzbek goods will be available on Kazakh ones, which will be a significant boost for the development of electronic trade in the region.
"We are on the verge of a new stage of scaling. For this, we are working on harmonizing tax and trade administration," he noted.
It should be noted that the second day of the B5+1 forum is ongoing.
