Peshawar - The Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT) and Hangzhou Municipal Bureau of Commerce (MBC) of Hangzhou government at China, signed a memorandum of understanding (MoU) for extending strategic cooperation and collaboration in e-commerce and related IT opportunities for investment in Khyber Pakhtunkhwa.
The signing ceremony was held during China Innovation Summit, an initiative by CAREC for cooperation, collaboration and promotion of e-commerce and related IT interventions.
During the ceremony, on behalf of Chief Executive Officer (CEO), KPBoIT, representative of the board, Gul Mohammad, signed the MoU with Director of Hangzhou Municipal Bureau of Commerce.
Hangzhou is an industrial city with many diverse sectors such as light industry, agriculture, and textiles and it is considered an important manufacturing base and logistics hub for coastal China. Furthermore, the city is an e-commerce and technology hub.
According to the Director Business Promotion, Khyber Pakhtunkhwa BoIT Iqbal Sarwar, the MoU will bridge investors from China with Khyber Pakhtunkhwa for establishing e-commerce related facilities in Khyber Pakhtunkhwa.
Similarly, it will also pave way for engaging local service providers with their Chinese counterparts for collaboration and experience sharing. Moreover, this engagement will also attract investors from other countries for investment in this sector.