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The E-Commerce Giant Ali Baba has Signed the Fist MoU in Pakistan

 

 

alibaba entering pakistan

The world’s largest e-commerce company in the world AliBaba has been planning to start an initiative in Pakistan for quite some time. We heard news about the delegations visiting every now and then and Jack Ma showing interest in the e-commerce industry of Pakistan.

Finally, the news is out that AliBaba has made the announcement of signing the memorandum of understanding with the government of Pakistan. It is The Development Authority of Pakistan (TDAP) which has taken this step to promote the e-commerce industry in the country.

The memorandum was signed by Michael Evans, President of AliBaba Group, Douglas Feagin, Senior Vice President of Global Business of Ant Financial, and Commerce Minister Khurram Dastgir during the visit of the Prime Minister of Pakistan Muhammad Nawaz Sharif to AliBaba’s headquarters.

The signing ceremony was witnessed by Chairman Jack Ma and Prime Minister Nawaz Sharif. Through this venture, AliBaba and TDAP has agreed to facilitate the growth of small enterprises in Pakistan through e-commerce. Also, AliBaba, TDAP, and Ant Financial have also agreed to foster the financial growth in Pakistan in various sectors, especially in the online payment system.

The plan is to conduct online and offline training programs to assist all the small and medium enterprises so that they can optimize their exports using e-commerce.

While addressing the signing ceremony, PM Nawaz Sharif said that this initiative will help in creating more opportunities for the people who are involved in the e-commerce industry and will increase the number of jobs in the country too.

Jack Ma had the following to say during the same ceremony, “E-commerce has been established for developing countries and for SMEs. Pakistan has seen significant progress in recent years and we look forward to working together with TDAP to further enhance the potential of their SMEs through the signing of this MoU.”

The parties have also decided that they’ll be relying on cloud computing services to support online commerce businesses of the small and medium enterprises in Pakistan. This will help in improving the economy of the country to quite an extent.

 

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  • alibaba entering pakistan: google

About Palwasha Qasim

Palwasha Qasim is a graduate of the University of the Punjab in communication studies and an alum of the Global UGRAD Pakistan. She loves to write about technology news.