China Pak e-commerce platform join hands for industrial upgrading and signed a strategic partnership agreement.
Recently, IBI, a high-quality industrial Internet enterprise based in Beijing, and the Ministry of Information Technology and Telecommunications of Pakistan have officially formed a strategic cooperation. Beijing Toodudu E-commerce Co., Ltd., a key subsidiary of IBI, signed a strategic partnership agreement with the Pakistani firm Michael & Parker. This step aligns with China’s Belt and Road Initiative and aims to boost regional economic cooperation and development.
IBI plans to collaborate with the Pakistani government to offer global, comprehensive services for various industrial chains in Pakistan. Consequently, leveraging its strengths in the digital economy, industrial Internet, and cross-border industrial belts, IBI intends to drive collaborative and innovative growth in industrial and supply chains.
Shaza Fatima Khwaja, Pakistan’s Minister of Information Technology and Telecommunications, praised IBI’s achievements in the digital economy and industrial Internet. She also detailed Pakistan’s current challenges in these areas and expressed hope that IBI would play a significant role in Pakistan’s economic development.
IBI Collaboration
As a result, IBI will collaborate with local core enterprises to enhance its operations in Pakistan. Utilizing its advanced digital economy resources and technology, IBI will work with the Pakistani government on projects like cross-border service platforms, supply chain collaborations, and cloud factory programs to expand the global reach of enterprises in both countries.
Attendees at the signing ceremony included key figures such as Shaza Fatima Khwaja, Ghulam Qadir from the Pakistani Embassy, Erfa Iqbal from the Prime Minister’s Office of Pakistan, Liu Junzhai from IBI, and Danyal from Toodudu.
Cross-border e-commerce has been a significant growth area for China, despite global economic downturns. In the first half of 2024, China’s cross-border e-commerce imports and exports reached RMB 1.22 trillion, a 10.5% increase from the previous year. The volume of cross-border mail and parcels managed by Chinese customs exceeds 7 billion annually. Further, The China-Pakistan e-commerce trade, valued at about USD 3.5 billion in 2021, is projected to grow to around USD 60 billion by 2030.
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