Hangzhou, China (Web Desk): A Memorandum of Understanding (MoU) has been signed between Trade Development Authority of Pakistan and Alibaba Group Holdings Limited on Tuesday, to promote the country’s exports by Small and Medium Enterprises (SMEs) through e-commerce.

According to details, 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.

The advancement took place during Pakistan Prime Minister Nawaz Sharif’s visit to the company’s headquarters. Alibaba Group’s Executive Chairman, Jack Ma and Prime Minister Nawaz Sharif witnessed the signing ceremony.

Alibaba, Ant Financial, and TDAP agreed are eager to foster growth of worldwide export of products by small and medium sized enterprises in Pakistan through e-commerce through this agreement and MoU.

Training programs for the SMEs would also be conducted by Alibaba either Online or offline, in a bid to assist SMEs with the company’s platforms.

TDAP will help identify suitable SMEs to participate in the training programs while Alibaba will be responsible for providing industry analysis to TDAP to assist them in their selection process.

The parties have agreed to adopt cloud computing services to support the online and mobile e-commerce businesses of SMEs in the country. TDAP, Alibaba, and Ant Financial have also agreed to promote the growth of financial services in Pakistan in areas such as mobile and online payment services.