Karachi, September 19, 2019:
The e-commerce platform will provide a huge new opportunity for opening up of several new opportunities for Pakistan, including an increase in exports of non-IT products and services which have immense demand abroad, and leveraging of the BRI through joint ventures between Pakistan and Chinese SMEs to capture world markets.
Given the special strategic partnership with China which has launched BRI – Belt and Road initiative, Pakistan is seen as a flagship country, hence the term CPEC. Thus, e-commerce and BRI merged together has led to the web URL being developed as ecombri.com.
It is expected that over a hundred countries within the BRI cluster will be able to buy and sell products through this platform. Analysing the overall picture, it is known that there is a limited number of companies that have the budget to market their products in international exhibitions and within Pakistan there is a mere 10 percent of companies which can afford to do this. The focus here is on the remaining 90% SMEs of Pakistan which have the potential to participate but are limited by budgetary constraints.
The SMEs are indirect exporters as well and need a platform through which they can approach a bigger market and showcase their products. As a result, ecombri.com will enable not just domestic e-commerce but cross border e-commerce as well hence acquainting the world with Pakistani products.
Moreover, the number of companies will increase as far as international marketing is concerned. According to the parent company’s estimated target, the goal is to increase the number of companies 500,000 in the next 3 years; right now the total number of companies in Pakistan is 50,000.
When the increase will take place it is expected that Pakistan’s export will also increase from the current $23 billion to $50 billion. As it is, within the country a lot of items are available that need marketing to fill the gap that prevails.
These days people prefer organic products because they consider such items, environment friendly; through ecombri.com, people can directly import such items from rural to urban centres. When it comes to promoting business within the country, this platform will eventually enable a supply chain for products from rural to urban centres.
Similarly, handicrafts can channelise within the country from villages to the city through e-commerce. This is the platform that will help domestic e-commerce and cross border e-commerce. Through such activities, our target of increasing Pakistan’s export to $50 billion can be achieved. In the process, this has the potential of creating 1 million jobs which will become a vital contributor to the Prime Minister’s agenda of creating 5 million jobs.
Pakistan’s focus is still based on exporting products; however, the GDP world over is contributed by 60% of their service industry. There is great potential in Pakistan; we can hence export our services internationally as well.
This again is possible through ecombri.com as this will enable a great investment potential for the country. The emphasis is laid on acquiring investment, joint venture, and exporting products. This, as a result will enable jobs for the country which is much needed to give a boost to the economy.
There is still a gap when it comes to Pakistan’s contribution to the global halal industry and there is a $6 trillion demand globally for halal food, which can be made possible through e-commerce. Value added products can then be manufactured and exported. Ecombri.com’s vision is to convert indirect exports from local SMEs to direct exports and to increase the number of companies, thus establishing a holistic business cycle for them to flourish.
Ecombri.com aims at achieving a public-private sector partnership and looks forward to the government as a facilitator, an enabler as far as creating a business conducive environment is concerned.