‘Country has considerable potential to expand e-commerce’ | Daily News


‘Country has considerable potential to expand e-commerce’

E-commerce is already established in Sri Lanka but the degree of its penetration and adoption is still limited. Nevertheless, the country has considerable potential to expand e-commerce, Opeyemi Abebe, Head of the Trade Competitiveness Section of the Commonwealth Secretariat said.

“It can be said that currently not more than 10 percent of commerce is technology-driven. This indicates that great potential remains untapped.

The basic IT infrastructure required for e-commerce, secure, reliable and fast internet and communication support services is available in the country and even in remote areas, however internet penetration remains low at 30%.

Addressing a seminar organized by Sri Lanka Export Development Board under the theme, ‘Facilitating Digital Trade and Micro, Small and Medium Enterprises ( MSME) participation: An overview of Sri Lanka’s e-readiness assessment’, Abebe, said, in the five-parameter model of e-commerce maturity indexing proposed, the country is estimated at Level 2 with an index value of 0.42 on a continuum of 0-1. This indicates substantial potential for development.

She said further that e-commerce development is multidimensional. If e-commerce has to develop optimally, either at the level of individual enterprise or at the level of a nation, the maturity and readiness of each strategic component part should develop.

Ecommerce expands market reach and communication, increases profitability at the firm level and the revenues at the national level, and improves consumer convenience products. In addition, E-commerce also reduces transaction times, overhead cost and cost of transaction.


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