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Chinese online giant Alibaba signs its first MoU in Pakistan

Alibaba Group has announced the signing of a memorandum of understanding (MoU) with the Trade Development Authority of Pakistan (TDAP) during Prime Minister Nawaz Sharif’s visit to the Alibaba Headquarters in Hangzhou, China.

Alibaba Group’s Executive Chairman, Jack Ma and Prime Minister Nawaz Sharif witnessed the signing of the Memorandum of Understanding. Michael Evans, President of Alibaba Group, and Douglas Feagin, Senior Vice President of Global Business of Ant Financial, signed the Memorandum on behalf of Alibaba and Ant Financial, respectively.

Prime Minister of Pakistan, Mian Muhammad Nawaz Sharif said:

“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.

The parties also agreed to use cloud computing services to support small enterprises in Pakistan.

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