Dubai – Mubasher: E-commerce will make up around 10% of Dubai’s total retail sector in the coming few years, the general manager of Dubai Chamber of Commerce and Industry (DCCI), Hamad Buamim, stated.

It is expected that the size of the market will rise by more than 5%, the top official added.

Buamim explained that the Dubai market and its potentials are a positive factor that helps boost e-commerce, noting that the emirate will likely be a turning point for the region in the field of e-commerce.

The DCCI recently signed a memorandum of understanding (MoU) with Souq.com, the largest e-retailer in the Middle East, to facilitate cooperation between them in the e-commerce market.

Citing various studies by Payfort and Business Monitor, the DCCI said that the size of the e-commerce market in the Gulf region is expected to expand to $41.5 billion by 2020.

The report predicts that the UAE will lead the expansion with 53% to 55% of the market share, followed by Saudi Arabia with 14%, and Oman with 12%.

It also estimates that the size of the global e-commerce market will reach $4.3 trillion by 2025, or 19% of total retail sales.