The Online trading giant, Alibaba has issued an announcement on the signing of a Memorandum of Understanding (MOU) with the Trade Development Authority of Pakistan (TDAP). The announcement came after Prime Minister Nawaz Sharif’s visit to Alibaba headquarters in Hangzhou, China.

The Prime Minister  Nawaz Sharif made a speech at the Alibaba Headquarters and this is what he had to say:

“I am honored to have had the opportunity to visit the Alibaba Headquarters in Hangzhou, China. Today by entering into this agreement with Alibaba and Ant Financial we further strengthen mutual cooperation and look to bring about a positive change for our small and medium enterprises.”

He further added,

“With the support of the Alibaba Group and Ant Financial we hope to elevate our local businesses to new heights and bring them into the realm of the e-commerce platform.”

The MoU states that Alibaba, Ant Financial, and TDAP have further agreed to grow the worldwide exports of products made by SMEs in Pakistan through e-commerce.

Alibaba has also decided to provide training programs for Pakistani businesses mainly SMEs to get on board the e-commerce platform and for optimizing exports.

Alibaba Group’s Executive Chairman, Jack Ma said:

“With the globalization of e-commerce, developing countries are well-placed to support the growth of their small and medium enterprises and to seize opportunities which can help bolster their economies. 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.”

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