The Faisalabad Chamber of Commerce and Industry (FCCI) President Shabbir Hussain Chawla said that E-commerce is the way forward of conducting business and also giving a chance for SME’s (small and medium enterprises ) to provide their products and services to consumers residing in all parts of the world. Addressing the Alibaba delegation in the meeting room of FCCI, he stated that Ali Baba is a pioneer of e-commerce and has set new standards in supplying products online. Pakistan should also target the e-commerce market by launching new companies and also begin a partnership with Alibaba to acquire maximum dividends.
While speaking to the Alibaba delegation he also suggested that Alibaba should have their own warehouses in various countries and also have operative logistical services and reliable banking systems so that the customers can be compensated if the products delivered are damaged.
Partik Wang and Jason Jia of Alibaba delegation spoke about the business activities of the e-commerce company and said that they are ready to offer a “unique opportunity” for the businessmen of Faisalabad to directly reach their buyers without having their own warehouses and middlemen. He also said that Alibaba recorded a revenue of 119.8 billion Yuan which translates into $ 17.4 billion in the fiscal year ending March 31, 2017 in Chinese online sales. He added that the increased internet usage and the spending power of customers are factors which are helpful in the growth of e-commerce.