E-commerce might help in strengthening firm’s competitiveness and raise their share of global trade, an LCCI cheif stated at the event. “E-commerce is expanding rapidly around the world and is likely to reach new highs this year. It’s encouraging to observe how quickly Pakistan’s e-commerce business is growing,” remarked speakers at a Lahore Chamber of Commerce and Industry (LCCI) e-commerce event. This was the core outcome of the presentations presented at the Lahore Chamber of Commerce & Industry’s E-Commerce Symposium. Yasir Humayun, Punjab’s Minister of Information Technology, Mian Nauman Kabir, LCCI President Mian Nauman Kabir, Senior Vice President Mian Rehman Aziz Chan, Vice President Haris Ateeq, Ahmad Muzammil, Covener of the LCCI Standing Committee on Information Technology and Open Source Software Promotion, and experts from various fields spoke at the event. Ecommerce, according to Humayun, used to be a “buzz term” a few years ago, but has now become a “must have” for all people in urban and rural places, adding that the IT industry opened the ground for inclusive trade and economic development even during the pandemic’s toughest periods. “Global retail ecommerce sales reached $4.28 trillion in 2020, with e-retail revenues expected to reach $5.4 trillion in 2022.” See Also: Key Factors Promoting the Growth of e-Commerce
