Pakistan seeks Alibaba cooperation for cashless economy, SME exports

Finance Minister Muhammad Aurangzeb met Alibaba International Digital Commerce leadership in Bangkok to discuss cooperation on digital payments, e-commerce and technology, including proposals to rationalise e-commerce taxation and accelerate Pakistan’s single window platform, the finance ministry said on Wednesday.

Aurangzeb met with the leadership of Alibaba International Digital Commerce (AIDC) on the sidelines of the World Bank Group–IMF Annual Meetings 2026 in Bangkok, Thailand, to review cooperation on Pakistan’s digital economy, read a statement.

Discussions covered digital payments, a cashless economy and transparent delivery of social protection payments and targeted subsidies.

The finance minister appreciated Alibaba’s support for SMEs, local brands and exports through Daraz and Alibaba.com. He also invited proposals to rationalise e-commerce taxation, balancing fairness with broader tax participation.

Both sides discussed accelerating the Pakistan Single Window e-commerce platform and improving the tracking of cross-border payments and export proceeds. Cooperation on cloud infrastructure, artificial intelligence (AI) and tax administration was also reviewed, with emphasis on integrated data systems, cybersecurity and institutional capacity.

The two sides also explored modernising Pakistan Post’s sorting systems and expanding agricultural exports to China through Alibaba’s retail network.

In a separate meeting, Aurangzeb met with Engineer Adeeb Y. Al Aama, Chief Executive Officer of the International Islamic Trade Finance Corporation (ITFC), where he highlighted Pakistan’s economic progress, stronger reserves and renewed access to international capital markets.

Both sides reviewed the remaining financing tranche and discussed aligning borrowing costs with improved market conditions. They agreed that technical teams would explore pricing and financing-volume adjustments to find a mutually acceptable solution.

The finance minister further outlined efforts to replace costly, short-term borrowing with longer-maturity financing without increasing external debt.

Discussions also covered digital product passports to support textile exports to the European Union and single-window connectivity to facilitate ASEAN trade. Both sides reaffirmed their long-term partnership and commitment to strengthening Pakistan’s export competitiveness.

In an engagement with UN Deputy Secretary-General Amina J. Mohammed, the finance minister discussed strengthening the Borrowers’ Forum through peer learning, continuity in governance and an effective virtual secretariat.

He emphasised a stronger Global South voice and more responsive international financial institutions.

Both sides stressed adequate financing for the Sustainable Development Goals, poverty reduction, social protection and decent jobs. Discussions also covered climate financing gaps, simpler access to funds and stronger capacity to prepare bankable projects.

The finance minister further highlighted local currency financing to reduce exchange rate risks, alongside accountable domestic policymaking. He thanked Amina for appreciating Pakistan’s mediation efforts in the recent US–Iran crisis.