In 2002, the number of Internet users in the world was already almost 600 million; growth projections put the global value of e-Commerce at almost $13 billion by 2006. The course is obvious: Bangladesh should get on the e-Commerce fast track now. If the country’s small and medium sized businesses (SMEs) can avail themselves of the many opportunities ICT presents, Bangladesh could position itself as the Asian hub of a global digital economy.

The initiatives undertaken by JOBS’ ICT program will contribute significantly to creating an enabling environment for e-Commerce growth in Bangladesh. Up to now, the adoption of ICT for business has been stymied by the fact that Bangladesh’s courts did not recognize electronic signatures, there were no laws protecting intellectual property rights, electronic contracts had no legal value, and the financial structure was not able to support electronic transactions. The lack of coordination among stakeholders delayed efforts to remedy this situation until JOBS provided the necessary coordination by:

• Conducting a study on: E-Commerce in Bangladesh: Status, Potential and Constraints; This paper looks at the nation’s current statutory laws and the challenges to implementing them in ways that foster e-Commerce. The paper also lists specific policy changes needed to improve the legal and regulatory environment affecting e-Commerce.

• Sponsoring TechBangla to conduct research and publish a study: E-Commerce in Bangladesh: A Readiness Assessment.

• Organizing the highly acclaimed “E-Commerce in Bangladesh: Potential and Policy Priorities” seminar in January 2001 in cooperation with the Ministry of Science and Technology and the Ministry of Planning. The seminar was the first opportunity for all relevant stakeholders to come together to discuss and agree on 35 recommendations to bring ICT to Bangladesh.

• Setting up an IRIS website for policy makers to provide access to information about e-Commerce and IT laws in other countries to assist in the enactment of an IT law for Bangladesh.

• Bringing in international experts to provide technical assistance in policy reforms needed for the development of e-Commerce and ICT to assist the GoB in developing an  ICT Policy .

• Organizing the “ICT Policy and Practice: Steps for the Future” seminar in October 2002 in cooperation with the Ministry of Science and ICT (MOSICT) and BASIS. The seminar highlighted the progress on ICT initiatives to date and steps that still needed to be taken, discussed the proposed IT Law drafted by the Law Commission, and presented the opportunities and challenges faced by SMEs as they endeavor to use ICT for business growth.

• Providing technical assistance from international experts and UNCITRAL to comment on and edit the IT Law drafted by the Law Commission. More emphasis was given to the United Nations’ Model e-Commerce law, Model e-Signature law, and similar laws endorsed by the United States and the European Union.  The edited version of the IT Law has been presented to MOSICT and is expected to be placed before parliament for enactment soon.