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Alibaba group is china’s leading e-commerce company that presently has a huge network of its services worldwide. The e-commerce giant has now added Pakistan to this list. During the latest visit of prime minister to the headquarters of the company, a Memorandum of Understanding was signed with Alibaba Group Holdings Limited. The purpose of which is to promote Pakistan’s exports all across the world by Small and Medium Enterprises (SMEs).
E-commerce in the country is an increasing trend and with the inclusion of big names, it is sure to have a brighter future. Alibaba Group’s Executive Chairman, Jack Ma was also present on the occasion.
In a very short time this company has claimed a title of biggest tech e-commerce company in china. It has also earned millions worldwide through its sales. The leading tech company has made its place in the market as a reliable name. It is currently working hand in hand with the Chinese government on various technology development goals. The development of cloud infrastructure and data mining are the major domains of interest right now. They also aim to give a platform to other nations to sell their goods and help growth of economy.
Pakistan is considered as an important country and as a gateway to many opportunities. China has been a timeless friend through thick and thin. China has always showed keen interest to bring investment to Pakistan.
MOU signed with Alibaba is to further strengthen this bond between the two countries. The company intends to conduct online and offline training programs for the Small and Medium Enterprises. These trainings will help them to develop understanding about the company’s platform by means of sea and air cargo.
The role of TDAP is crucial in the training program. It will shortlist the SMEs that are meet the criteria to take part in the training program. The Alibaba group will provide industry analysis to TDAP in order to help them in the selection process.
Alibaba, Ant Financial and TDAP agreed over promoting the financial services in Pakistan, especially in the field of mobile and online payment services. The parties have decided to make use of cloud computing to support online and mobile e-commerce businesses of SMEs in the country. Alizila is a news website that solely caters with e-commerce industry and Alibaba group.
According to its latest findings, mobile phones were the source responsible for 70 percent of the overall web traffic during last year. Alizila also pointed out that with 18 percent internet penetration rate, there are still endless opportunities present in this sector. The need is to explore them further to make the tech dream come true.
The MOU was put down in black and white between Alibaba and Trade Development Authority of Pakistan (TDAP). The agreement was signed by Commerce Minister Khurram Dastgir and President of Alibaba Group Michael Evans and Douglas Feagin, Senior Vice President of Global Business of Ant Financial.
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