Beijing-based high-quality industrial Internet enterprise IBI and the Ministry of Information Technology and Telecommunications of Pakistan have officially established strategic cooperation. A core subsidiary of IBI, Beijing Toodudu E-commerce Co., Ltd., signed a strategic cooperation agreement with Pakistani company Michael & Parker.
“This is a vital step for IBI to actively respond to China’s Belt and Road Initiative and promote regional economic cooperation and development,” an official stated.
IBI plans to collaborate with the Pakistani government to provide global one-stop full-chain services for various industrial chains in Pakistan. This initiative leverages IBI’s strengths in digital economy, industrial Internet, and cross-border industrial belts, aiming to spur collaborative and innovative development of industrial and supply chains.
Shaza Fatima Khwaja, Pakistan’s Minister of Information Technology and Telecommunications, praised IBI’s achievements in digital economy, industrial Internet, and cross-border industrial belts. She detailed the challenges Pakistan faces in these fields and expressed hope for IBI’s deep involvement in Pakistan’s economic construction.
Under the agreement, IBI will partner with local core enterprises to support its businesses in Pakistan. IBI will utilize its mature resources in the digital economy and robust digital technology advantages, collaborating with the Pakistani government to advance cooperation in cross-border integrated service platforms, supply chain collaboration platforms, cross-border barter platforms, cloud factory programs, enterprise promotion, and talent exchange. This partnership aims to enhance the global presence of enterprises based in both China and Pakistan.
Attendees at the signing ceremony included Shaza Fatima Khwaja, Minister of Information Technology and Telecommunications of Pakistan, Ghulam Qadir, Commercial Counsellor at the Pakistani Embassy, Erfa Iqbal from the Prime Minister’s Office of Pakistan, Liu Junzhai, Director and Senior Vice President of IBI, and Danyal, Vice President and General Manager of Cross-border E-commerce of Toodudu.
Despite a global economic downturn, cross-border e-commerce has become a significant driver of China’s economic growth. In the first half of 2024, China’s cross-border e-commerce imports and exports reached RMB 1.22 trillion, a year-on-year increase of 10.5%, outpacing the overall growth rate of China’s foreign trade. Chinese customs supervise over 7 billion cross-border mail and parcels annually, with an average of 20 million parcels transported daily by train, plane, and ship. The scale of China-Pakistan e-commerce trade, valued at about USD 3.5 billion in 2021, is projected to grow to approximately USD 60 billion by 2030.
