Level of e-commerce penetration in Azerbaijan to grow twofold

Baku, Azerbaijan, Sept. 28

By Huseyn Veliyev – Trend:

The level of e-commerce penetration in Azerbaijan will reach 30 percent of the total market by 2021, the Chairman of the Executive Board and CEO at GoldenPay OJSC Naina Mehdiyeva told Trend.

She noted that currently the market share of e-commerce in the country is about 15 percent.

"One of the main goals for us as a company is the development of e-commerce in the country. We set a goal to accelerate the penetration of e-commerce in the country and to double this figure as early as in 2019. In order to achieve this result, it is necessary that companies operating in this field would not compete, but cooperate with each other. I am sure that if there are many such companies, together we will be able to achieve greater results than in case when we compete with each other," Mehdiyeva said.

She added that GoldenPay company, cooperates with a number of government agencies, in particular in the legal sphere. This refers to the industry-specific legislation in the field of e-commerce.

"There are still certain gaps that need to be properly worked upon in the field of legal regulation of e-commerce. It is gratifying that the financial sector consults with us and often considers our opinions. We work together, and I am sure that at least in the next three years if not for a year, we will even be able to achieve the desired result in the expansion of e-commerce. There is a developed plan, where the numbers are even more inflated. In reality, we see an increase in the share of e-commerce to 30 percent, which, given the economic situation of the country and the policy of banks, is quite a good figure, and we will be able to achieve this goal. The GoldenPay company will continue to take an active part in this process," Mehdiyeva said.

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Follow the author on Twitter: @h_veliyev

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