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E-commerce transactions in Saudi Arabia amount to SR2.25 billion

© Provided by The Rahnuma Daily

Author: Arab NewsFri, 2017-03-17ID: 1489741188801108500The volume of e-commerce transactions in the Saudi market amounted to about SR2.25 billion in 2016, according to Secretary-General of the Consumer Protection Society Abdulrahman Al-Qahtani.Al-Qahtani said it is necessary to protect consumers who engage in transactions online from fraud and exploitation that can occur due to deceptive advertisements and unfair practices. He also called for the development of transparent governmental legislation and policies which take into consideration the differences in dealings which occur beyond the boundaries of local consumer-protection laws.Current regulations do not differentiate between e-commerce transactions and online dealings in general, which is an issue that can be tackled by legislators collaborating with governmental and private specialists by drafting regulations. The financial and technical aspect of e-commerce should also be addressed, he says. He valued the efforts exerted by the relevant entities in this regard. However, there is a critical need for developing comprehensive government regulations that guarantee consumer rights are preserved when they shop online, he said. These developed regulations should be unified in one framework that regulates all electronic transactions, he added. He made a statement to the Saudi Press Agency (SPA) on the occasion of World Consumer Rights Day, which was celebrated on Wednesday, on the theme of “building a better digital world consumers can trust.”In the statement, he said that the Kingdom should benefit from the exemplary frameworks and legislation provided by a number of regional and international entities to organize e-commerce. Those include the regulations issued by the Organization for Economic Co-Operation and Development (OECD), the European Union, the United Nations Conference on Trade and Development (UNCTAD), UN Economic and Social Commission for Western Asia (UNESCWA) and the Arab League, he said.
Main category: Business & Economy

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