Pakistan Mercantile Exchange (PMEX), country’s first and only multi-commodity futures exchange, signed an agreement with HashMove on December 12, 2019. Under this agreement, HashMove will provide a digital multimodal logistics platform for PMEX, connecting buyers and sellers of commodities virtually anywhere around the globe.
At present, the Exchange is actively working towards developing Pakistan’s first international online trading platform under the name of Global Trading Platform (GTP) that will show case local commodities of the country to the global market by offering an end-to-end one-window solution. The platform will enable the foreign buyers to purchase agricultural as well as non-agricultural commodities from Pakistan with convenience and confidence of quality assurance as per international standards. The GTP will cover: trading, storage, packaging, transport and export of the commodities with accessibility as convenient as a click of a button.
Mr. Ejaz Ali Shah, Managing Director of PMEX, speaking on the occasion said, “We are delighted to collaborate with HashMove for developing the digital logistic platform for PMEX to achieve the ultimate goal of selling of indigenous agricultural commodities to international buyers. We envisage that GTP will transform the local commodity markets by linking farmers directly to the international market, improve price discovery, induce transparency in commodity value chain, reduce transaction costs and increase Pakistan’s agricultural exports.“
Commenting on the occasion, Mr. Sarfaraz Alam, CEO and Co-Founder of HashMove, said, “We are excited to see that our enterprise logistic platform has begun to contribute towards the digital economy in the era of Digital Pakistan. Congratulations to the PMEX leadership on being the pioneer in adopting latest technology innovations and we are looking forward to helping them in moving their commodities worldwide.”