Digital Silk Road to promote e-commerce between Pakistan and China

Lin Jianming, Chairman and CEO of the Chinese sci-tech company Samoyed Cloud Technology, declared that they would fully utilize AI tools to promote technological innovation and learn from successful experiences, integrating them into Pakistan's national digital strategy, in order to effectively facilitate the shared prosperity of the China-Pakistan Economic Corridor (CPEC), APP reported on Thursday.

China has experienced rapid growth in its digital trade over the past few years.

The China Academy of Information and Communications Technology reported that between 2016 and 2022, the size of China's digital economy grew by USD 4.1 trillion, with an average annual compound growth rate of 14.2 percent.

The Belt and Road countries now have a wealth of economic opportunities and newfound optimism thanks to China's burgeoning digital trade.

Up until November 2022, China had progressed the Silk Road e-commerce bilateral cooperation mechanism with 26 countries, including Pakistan, and built the Digital Silk Road cooperation mechanism with 16 nations.

The vast potential of Pakistan's digital economy was fully realized when Samoyed Cloud Technology, which specializes in artificial intelligence (AI), big data, mobile Internet, and cloud computing, launched its e-commerce platform EZTRADER to offer digital trade services to local retailers importing Chinese goods, according to CEN on Thursday.

Lin recently urged Pakistan's ambassador to China, Moin ul Haque, to establish a crucial agreement on how to further Pakistan's digital development.

The Ambassador stated that "the common objective of both parties is to enable our businessmen to reduce financial pressure and better expand their business scale while also enabling Pakistani people to purchase better and more affordable Chinese goods."

Pakistan is a prominent market for Chinese goods. Since the platform EZTRADER was introduced in May of this year, it has drawn more than 3,000 local merchants, including 3C Digital, home appliances, stationery, accessories, beauty products, and the like. "This much exceeds what we had anticipated," said Lin.

As of now, EZTRADER is dedicated to developing into a localized, all-inclusive e-commerce service platform that connects Pakistan's small- and medium-sized retail and trade B-sides. It offers one-stop B2B digitization for the entire link of e-commerce trade, from buy and sale to payment, with an effective supplier system.

According to Lin, Pakistan is the fifth most populated nation in the world, and given the prevalence of mobile Internet, information, capital, and logistics have a solid basis for development, which means the digital revolution has enormous growth potential.

The company's future efforts will be directed toward advancing deeper and higher-level digital cooperation with Pakistan and other countries along the Belt and Road.