22 Euro opportunity in cross-border e-commerce

ITO President Avdagic called on entrepreneurs to develop projects for EU countries to do cross-border e-commerce without paying customs on orders up to 22 euros.

Avdagic: The world retail e-commerce volume will be $ 4.5 trillion in 2021. We have to get the share we deserve from this. We need to quickly increase the number of companies and products to be included in the system. There is no tax on cross-border e-commerce made under 22 euros. The opportunity of 22 Euro in cross-border e-commerce is not to be missed.

Istanbul Chamber of Commerce (ITO) President Şekib Avdagiç drew attention to the duty-free order limit of 22 euros implemented by mail transportation in many countries of the European Union. Avdagic urged everyone to export more in this category through product development and retail e-commerce.

Avdagic pointed out that customs duties and foreign VAT duties are not levied on orders below 22 Euros in cross-border e-commerce transactions from Turkey to many European countries

Şekib Avdagiç, stating that the global retail e-commerce volume is $ 2.4 trillion, said, "The world retail e-commerce market will be $ 4.5 trillion in 2021. In Europe, 71 percent of retail online shopping is done across borders. In 28 EU countries, 85 percent of households have high-speed internet. Among the population between the ages of 16 and 74, 57 percent buy products and services for their private use on the internet. These figures show the magnitude of the opportunity."

Şekib Avdagiç said, "We need to follow the changing and developing trends more closely. We need to quickly increase the number of companies and products to be included in the system. We can be very advantageous, especially in certain product groups. There is no tax on cross-border e-commerce made under 22 euros. This is a great opportunity for our entrepreneurs. 22 Euros may be small for one person, but thousands of 22 Euros are a big step for our economy. Let's not miss the opportunity of 22 Euros in cross-border e-commerce."

ITO President Avdagic continued:

"European consumers shop online on global platforms with their mobile devices. China is the fastest growing market in retail e-commerce. China alone accounts for 47 percent of the world's retail e-commerce, or $1.1 trillion. In 2020, China's cross-border e-commerce volume will exceed $1 trillion. We must set ambitious targets for our exports in the field of retail e-commerce until 2023 and achieve this. My goal is $50 billion."