Alibaba Group is all set to enter the Pakistani ecommerce market. The signing of Alibaba Group MOU takes it one step closer to becoming part of the local ecommerce ecosystem.
The Alibaba Group MOU signing ceremony took place in the presence of PM Pakistan Nawaz Sharif and Alibaba’s Group Executive Chairman Jack Ma.
PM on Alibaba Group MOU Signing Ceremony
On this occasion of MOU signing Prime Minister of Pakistan Nawaz Sharif appreciated the performance of the group. He also said that he is happy to have met Jack Ma back in January at the World Economic Forum. The PM stated that the signing of the Alibaba Group MOU is one step ahead after the last meeting. The Prime Minister also applauded the group’s overall performance and its ability to create new jobs.
The PM also expressed his views on ecommerce indicating it as a powerful way to boost economic activity. He further added that after meeting Jack Ma he asked his office to facilitate Jack Main in every manner possible.
The Alibaba Group MOU
The Alibaba Group MOU aims to help Pakistan increase its level of exports throughout the world. The group, as well as Ant Financial and TDAP, seek to empower the SMEs using ecommerce.
Alibaba Group will also conduct online and offline training programs to enable small and medium enterprises. The agreement is signed between Alibaba Group and Trade Development Authority of Pakistan.
Trade Development Authority of Pakistan will identify business organizations to participate in Alibaba’s training programs. Alibaba will offer industry analysis to TDAP to facilitate the trading activities.
The three entities including Alibaba Group, TDAP, and Ant Financial also aim to help grow financial services in the country. The particular focus of these three entities is upon online payment services and mobile. One of the salient features of this MOU is the adaptation of cloud computing for supporting mobile ecommerce and online businesses. Alibaba Group’s delegation earlier visited Pakistan for the initial talks on further steps.
Acquisition Rumors Are False
Many in the past rumored that Alibaba Group may acquire Daraz.pk. However, Alibaba group has no interest in the acquisition of any entity instead it focuses more on partnerships. Jack Ma said that he wants to find partners in Pakistan and empower them through his ecommerce platform.
Ecommerce Readiness of Pakistan
As we already have a post on HoursTV, Pakistan’s ecommerce policy is still in the making. In such a scenario, the government needs to come up with a framework in which Alibaba Group will operate in Pakistan. The idea is to fulfill all regulatory and statutory requirements.