Pakistan signs MoU with Alibaba to promote exports through e-commerce

Pakistan signs MoU with Alibaba to promote exports through e-commerce

Pakistan, on Tuesday, signed a Memorandum of Understanding with Alibaba Group Holdings Limited to promote the country's exports by Small and Medium Enterprises (SMEs) through e-commerce.

Under the agreement, Alibaba subsidiary Ant Financial will work with the Trade Development Authority of Pakistan (TDAP) to train the nation's small businesses to use Alibaba's platforms and grow their e-commerce capabilities more generally.

The signing ceremony in Alibaba headquarters in Hangzhou was witnessed by its founder and chairman Jack Ma and Pakistan's Prime Minister Nawaz Sharif, who attended the Belt and Road Forum for International Cooperation in Beijing that ended on Monday.

But beyond that, Alibaba's entry into Pakistan can also potentially incentivise other e-commerce giants to bring their business to the country.

The Chinese company will also offer online and offline training programs to help SMEs operate on Alibaba's platforms.

TDAP will help identify suitable SMEs to participate in the training programmes while Alibaba will be responsible for providing industry analysis to TDAP to assist them in their selection process. In addition, the parties involved will support SMEs' online and mobile e-commerce efforts in Pakistan by adopting cloud computing services, notes the Tribune.

"I am honored to have had the opportunity to visit the Alibaba Headquarters in Hangzhou, China", Sharif said. He said digital transactions were a solution for small entrepreneurs to expand their businesses and reach global markets.

"My appreciation of Ma's dynamism and performance of (the Alibaba) group comes not only from its success as a e-commerce giant but more so from the focus of the group on job creation and livelihood generation", he added.

Jack Ma apprised the Prime Minister that Alibaba Group was facilitating 60 million companies across the globe and said that around 300,000 consumers from Pakistan had signed with Alibaba for transactions and company's services.

"The close collaboration between Pakistan and China in commerce could turn the irons brothers into golden brothers " What does the MoU state?

While speaking to the audience Jack Ma said, "E-commerce has been established for developing countries and for SMEs". It is relevant to mention that the development came into effect after a series of meetings between the representatives of two countries.

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