The world’s largest online and mobile commerce company Alibaba, has announced the signing of a memorandum of understanding (MoU) with the Trade Development Authority of Pakistan (TDAP).the development took place during Prime Minister Nawaz Sharif’s visit to the company’s headquarters in Hangzhou, China.
The Prime Minister of Pakistan was given a detailed presentation of the company’s accomplishments and what the future holds for the company. The performance of Alibaba Company was praised by the PM and he said that,
“Visiting the Alibaba Headquarters in Hangzhou, China is an honor for me and my country. The mutual corporation has been strengthening with the signing of the agreement with Alibaba and Ant Financial. This will bring a positive change to our small and medium enterprises. We are hoping to elevate our local businesses to new heights with the support of the Alibaba Group and Ant Financials which will bring them into the realm of the e-commerce platform.”
Prime Minister Muhammad Nawaz Sharif’s remarks at AliBaba Group pic.twitter.com/pmSqHHfRzU
— PML(N) (@pmln_org) May 16, 2017
This signed agreement is to support the e-commerce development of SMEs and financial services in Pakistan which according to Jack ma,
“With e-commerce globalization, developing countries are well-placed to support the growth of their small and medium enterprises and to grab the opportunities which can help them to strengthen their economies. In recent years, Pakistan has seen momentous progress therefore through the signing of this MoU, we are looking forward to be working further with TDAP for enhancing the potential of their SMEs.”
In Pakistan, under the signed agreement of the MoU, Alibaba, Ant Financials, and TDAP, the exports of products by small and medium-sized enterprises will be promoted. The world-renowned company will also conduct online as well as offline training programs for the SMEs in order to support them with an on boarding on to the Alibaba’s platforms.