HANGZHOU, China: Pakistan on Tuesday signed a Memorandum of Understanding (MoU) with Alibaba Group Holdings Limited to promote country’s worldwide exports by Small and Medium Enterprises through e-commerce.
The agreement between Alibaba and the Trade Development Authority of Pakistan (TDAP) was signed by the Commerce Minister Khurram Dastgir and the President of Alibaba Group Michael Evans and Senior Vice President of Global Business of Ant Financial Douglas Feagin on behalf of Alibaba during the visit of Prime Minister Nawaz Sharif to the headquarters of the company.
The prime minister and Alibaba Group’s Executive Chairman Jack Ma also witnessed the signing ceremony.
Under the terms of the MoU, Alibaba, Ant Financial, and TDAP agreed to foster growth of worldwide exports of products by small and medium sized enterprises (SMEs) in Pakistan through e-commerce. Online and offline training programs for the SMEs would also be conducted by Alibaba in a bid to assist SMEs with on-boarding on to Alibaba’s platforms and optimizing exports through e-commerce.
The TDAP will help identify suitable SMEs to participate in the training programs while Alibaba will be responsible for providing industry analysis to TDAP to assist them in their selection process.
In addition, Alibaba, Ant Financial and TDAP have agreed to promote the growth of financial services in Pakistan in areas such as mobile and online payment services.
The parties have also agreed to adopt cloud computing services to support the online and mobile e-commerce businesses of SMEs in Pakistan.