Initiated by Vietnam as Chair of ASEAN in 2020, the event marks the founding anniversary of the bloc (August 8) and aims to promote cross-border e-commerce within the grouping, according to the Ministry of Industry and Trade (MoIT)’s E-Commerce and Digital Economy Department.

This is a good chance for businesses from ASEAN member countries to introduce their products and increase sales through e-commerce amidst the COVID-19 pandemic.

This is also an opportunity for consumers in ASEAN to experience online shopping in an open, safe and quality market under the supervision of governments.

Experts have predicted that ASEAN’s e-commerce sector will triple its scale to US$300 billion in 2025.

In the context of the pandemic, e-commerce is a bright spot of growth as more consumers and businesses are switching to online transactions.

The AOSD aims to encourage the trend and increase interaction between consumers and businesses for more transactions in a safe manner, while assisting efforts of member countries to create optimal conditions for trade and e-commerce, and increase the digital integration as well as the confidence of ASEAN businesses, including small and medium-sized enterprises (SMEs).

According to a survey by Bain&Company in 2017, ASEAN’s digital economy will make up 8.5 per cent of regional GDP in 2025, much higher than 1.3 per cent in 2015.

AOSD will be held annually on August 8 as a chance to promote digital trade in the region and strengthen co-operation among relevant parties, including the partnership between state agencies, businesses and consumers.

VNS