BEIJING: Pakistan holds great potential to build a sound cross-border e-commerce platform with China and other neighbouring countries under the Belt and Road Initiative (BRI), it was stated Tuesday at the China International Fair for Trade in Services (CIFTIS).
Speaking on the occasion with China Economic Net (CEN), Xinjiang Brothers Union Network Technology General Manager Chen Longren said that with 14 years of experience in building cross-border e-commerce platforms along the BRI countries, the Memorandum of Understanding (MoU) signed between Pakistan and the Shanghai Cooperation Organisation (SCO) member states to build a cross-border e-commerce platform will be a booster for Pakistan.
“Pakistan boasts a wealth of IT talents, and this can be an aid in the development of a cross-border e-commerce platform in Pakistan as the process requires a concerted effort from countries involved,” Chen said.
“With so many tech-savvy people, Pakistan can maintain the operations of the servers stored locally and form a professional marketing team to promote the platform when such a platform is enacted.”
He added that Pakistan should beef up its digital payment system to facilitate cross-border e-commerce because digital payment is an integral part of cross-border transactions.
He emphasised that more favourable policies and political stability are also needed to engage more investors and boost investors’ confidence.
Established in 2007, Xinjiang Brothers Union Network Technology is dedicated to building cross-border cooperation platforms along the BRI countries in areas of trade, medicine, and culture.