President of the Association of E-commerce of Kyrgyzstan, Aibek Kurenkiev, shared information about the growth of the digital economy and cooperation in the e-commerce sector at the B5+1 forum. According to him, Central Asia is demonstrating impressive growth in digitalization, made possible by historical, cultural, and economic ties, as well as active experience exchange among the countries of the region.
Currently, the Association includes about 50 companies, among which are key players in retail, marketplaces, online trading, and logistics. The total turnover of these participants exceeds $2.5 billion, which accounts for about half of the total e-commerce market in the country.
The domestic volume of e-commerce is approximately $600 million per year, and considering cross-border operations, it reaches nearly $1 billion. The average annual market growth is about 15%, and the share of e-commerce in retail turnover has already reached 10-11% and continues to grow.
Aibek Kurenkiev noted that such achievements have become possible thanks to the coordinated work of the government, the financial sector, and businesses, which has ensured the receipt of "digital dividends" in all Central Asian countries.
A key aspect of the discussion was the development of payment infrastructure. In Kyrgyzstan, both international and national payment systems are successfully operating, and interoperability is actively developing. Currently, integration with Kazakhstan has been completed, work is ongoing to expand transfers with Uzbekistan, and there is a growing interest in cooperation with Tajikistan and other neighboring countries.
Among the main challenges remain issues of logistics and administration within regional trade. Nevertheless, digital product cards and national databases have already been created in all countries, facilitating the rapid scaling of integrations between marketplaces.
According to Aibek Kurenkiev's forecasts, in the coming months, Kazakhstani goods will appear on Uzbek marketplaces, while Uzbek goods will be available on Kazakhstani ones, marking an important step forward 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 emphasized.
It is worth noting that the second day of the B5+1 forum is ongoing.
