Chinese private enterprises have embraced cross-border e-commerce to increase competitiveness: Meher Kashif Younis

Islamabad: Coordinator to Federal Tax Ombudsman Meher Kashif Younis has said that the Chinese private enterprises had embraced cross-border e-commerce as a means to increase competitiveness and sustain their growth momentum.

He stressed that embracing new technologies and new forms of business was the need of the hour to grasp and explore new development opportunities to propel national economic growth besides boosting exports.

Talking to a delegation of exporters and importers led by Shahid Nazir, Chief Executive Officer Lahore Filter House, he suggested that “we must upgrade and transform traditional industries and promote industrial digitization and foreign trade as a top priority.”

Younis proposed that optimized measures and policy support was also needed to ensure for private foreign trade enterprises to continue to gear up national economic growth.

He mentioned that hit by COVID-induced lockdowns nationwide, many enterprises could only operate at a much lower capacity, with some even forced to close down.

“Many Chinese private enterprises have now embraced cross-border e-commerce as a means to increase competitiveness and sustain their growth momentum,” he remarked.

Over the past five years, he contended, that foreign trade through cross-border e-commerce conducted by Chinese small and medium-sized private companies has increased nearly 10 times. “It is still growing at a two-digit rate annually,” he informed.

Younis said it was vital for the business community of Pakistan to equip with modern technology and tools to compete in global and local markets, especially e-commerce.

He emphasized the need for taking pragmatic initiatives to arrange on-job training and capacity building to enhance professional technical skills of human resource, workforce to meet mounting hovering challenges.

Younis also called for strengthening industry-academia linkage adding that educational institutions need to be focused on the development of students’ technical skills to meet the requirements of market trends.