A delegation from the Ali Baba group is visiting Pakistan and met yesterday with the Minister of Commerce , Engr. Khurram Dastgir Khan. The delegation is led by Mr. Micheal Evans, President Alibaba Group. The corporation is interested in investment opportunities in the country. During the meeting, Mr.Micheal Evans appreciated the hospitality shown by the Government. He said that Ali Baba is exploring the option of initiating Ali Baba operations in Pakistan. The company will be beneficial in connecting the business and consumer of Pakistan with the rest of the world which will result in millions of employment opportunities and limitless prospects for small and medium enterprises.
Mr. Khurram Dastgir said that Ali Baba operations in Pakistan can play a significant role in the country’s digital economy and the Government of Pakistan is ready to fully support this venture. He further added that in Pakistan E-Commerce is still in its early stages as compared to worldwide trends. However, the sector is increasing in size with the passage of time. Due to the exponential growth in the mobile broadband access the e-commerce sector may exceed $1 billion in 2020. In South Asia, Pakistan has a lead in mobile banking transactions with 11% of its citizens using mobile phones for financial transactions. Pakistan’s e commerce industry is approximately estimated to be at $100 million with almost 30 million internet users.
Mr. Khurram Dastgir Khan also added that for developing E-Commerce/digital trade in Pakistan, the Ministry of Commerce is working on a policy framework.
The meeting was also attended by Secretary Commerce, Secretary Finance, Secretary and Chairman Board of Investment, representatives from FBR, State Bank and Commercial Banks and officials from other government departments.
Alibaba is a Chinese e-commerce company offering business-to-consumer, consumer-to-consumer and business -to- business services via web portals. It also provides its customers with a shopping search engine, electronic payment services along with data-centric cloud computing services.