In conjunction with the World MSME Day, Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, has introduced the Verified Supplier membership in Pakistan to help eligible Pakistani exporters win the trust of global buyers when conducting online trade. The move is Alibaba.com’s latest effort to support small businesses in Pakistan, which account for nearly 90% of exclusive private businesses in the country.
Offered in collaboration with SGS in Pakistan, Verified Supplier is the top membership tier on Alibaba.com that provides on-site verification services to suppliers from a world-leading independent, professional certification institutions. It allows buyers to easily identify a network of carefully vetted suppliers who have undergone a comprehensive verification process, which encompasses but is not limited to background checks, on-site inspections, as well as assessments of management quality and production and service capabilities. The resulting comprehensive assessment report will be accessible to all buyers through the participating suppliers’ Alibaba.com storefronts to demonstrate their trustworthiness and capabilities.
Verified Suppliers on Alibaba.com are identifiable by a “Verified Supplier” tag visible to buyers in the platform’s search results, product detail pages and the suppliers’ company profiles. Additionally, Verified Suppliers have access to an exclusive online pavilion on Alibaba.com, where they can showcase their products and enjoy greater exposure to potential buyers. The features are beneficial to eligible Pakistani companies looking to enter the global market, by helping them establish themselves as credible businesses and stand out from the competition.
In celebration of the World SME Day, Alibaba.com also co-hosted a webinar with the International Trade Centre (ITC), providing valuable insights into the latest digital trends and tools available to Micro, Small and Medium Enterprises (MSMEs) worldwide. During the webinar, titled “The Future of B2B E-commerce,” ITC emphasized that small businesses can reap significant benefits from e-commerce if they transform their organizational structure, invest in digital skills and establish a strong online presence. It also advised businesses to prioritize B2B e-commerce and select appropriate sales channels to engage in international e-commerce successfully.
Alibaba.com concurred on the value of digital transformation for MSMEs during the webinar, shedding light on its benefits of reducing business risks, expanding customer reach, improving productivity and cost management, and boosting company profits. Alibaba.com also highlighted the growing popularity of B2B livestreaming as a viable digital marketing means for MSMEs, which has been gaining traction on its platform and accumulated more than 13 million viewers by 2022, a year-on-year increase of 198%.
“We are proud to celebrate World MSME Day 2023 and the important role of MSMEs in the global economy with ITC. Alibaba.com is committed to helping MSMEs succeed by providing them with the tools and resources needed to thrive in the digital age. We believe that with our support, MSMEs can break barriers and build bridges towards a more prosperous future,” remarked Andrew Zheng, Head of Global Supplier Business at Alibaba.com.
“MSMEs are the backbone of most economies worldwide, and Alibaba.com’s efforts to help them connect and trade globally are significant. The digitalization of trade is a game-changer and can help MSMEs tap into new markets and grow their businesses. Alibaba.com is a strong partner in this journey,” said Annabel Sykes, E-commerce and SME Digital Transformation Adviser at the International Trade Centre (ITC).
During fiscal year 2023, Alibaba.com brought together more than 40 million MSMEs worldwide through its B2B e-commerce platform. It supports its extensive network of buyers and sellers with digital tools and training designed specifically for B2B trade, such as communication and engagement tools, translation assistance, AI-powered buyer-supplier matching, platform analytics and digital commerce training. This has made it possible for a substantial portion of these MSMEs to evolve into micro-global enterprises.