Gone are the days when Pakistan’s e-commerce industry remained under the shadows of rising e-commerce trends in India and China. To support the claim, executives of the Chinese e-commerce giant, Alibaba, are visiting Islamabad, which expressed their intention to establish an e-commerce platform in Pakistan.
Subsequently, it is recently reported that the delegation is visiting Pakistan following a meeting between Prime Minister, Nawaz Sharif, and Alibaba CEO, Jack Ma, during the World Economic Forum at Davos earlier this year. During the meeting Mr. Ma expressed his interest to invest in the country’s growing e-commerce industry.
It seems that the Chinese e-commerce giant is seriously impressed with how the country economy is making huge strides, and how the government is taking initiatives to encourage youth to penetrate the IT, telecom and broadband industry. Adding to that, the CEO of Alibaba, Jack Ma, agreed that the country’s e-commerce market is growing tremendously and it presents great opportunities for everyone.
Specifically, the country’s broadband penetration has growing over 40 million, up from only 2 million in April 2014. In addition, users of smartphones have also increase to more than 45 million, which indicates that the country is finally on track to become one of the emerging online market across the globe. Also, according to the Finance Minister, Ishaq Dar, e-commerce industry has been doubling in size every single year and it is believed that it will generate approximately US $1 billion in 2020.
Many reports indicates that the delegation is currently in the country and is studying the local market in order to evaluate the chances for entering in Pakistan in near future. Considering the fact that Alibaba is one of the largest e-commerce player in the world, it is believed that the presence of the e-commerce giant will play a key role in the advancement of the industry.