During the B5+1 forum, the President of the Association of E-commerce of Kyrgyzstan, Aibek Kurentkeev, shared information about the development of the digital economy in the country and cooperation in the field of e-commerce in the region. He noted that the Central Asian countries are demonstrating impressive growth rates in digitalization, facilitated by historical, cultural, and economic ties, as well as the exchange of experiences among the states of the region.
Currently, the Association comprises about 50 companies, including leading representatives of retail, online trading, marketplaces, and logistics. The total turnover of the participants exceeds $2.5 billion, which accounts for approximately half of the entire e-commerce market in the country.
The domestic volume of e-commerce reaches about $600 million per year, and considering cross-border operations, it is close to $1 billion. The average annual growth is about 15%, and the share of e-commerce in retail sales has already reached 10-11% and continues to grow.
As Kurentkeev emphasized, such achievements have been made possible due to the coordinated work of the government, business, and the financial sector, which has ensured the "digital dividends" observed in all Central Asian countries.
Significant attention is also being paid to the development of payment infrastructure. Both international and national payment systems are successfully operating in Kyrgyzstan, with actively developing interoperability. Integration with Kazakhstan has been completed, work is ongoing to expand transfers with Uzbekistan, and interest in cooperation with Tajikistan and other countries in the region is growing.
However, logistics and management of intra-regional trade remain major challenges. Nevertheless, digital product cards and national databases have already been created in all countries, allowing for the rapid integration of marketplaces.
According to Aibek Kurentkeev's forecasts, in the coming months, Kazakhstani goods will be presented on Uzbek marketplaces, and Uzbek goods will be on Kazakhstani ones, which will be an important step for the development of regional e-commerce.
"We are on the verge of a new stage of scaling. Work is underway to harmonize tax and trade administration," he noted.
It should be noted that the second day of the B5+1 forum is currently ongoing.
