The project is part of Alibaba’s Electronic World Trade Platform (eWTP), and Belgium is the first European country to join the project, following similar agreements in Malaysia and Rwanda. eWTP is designed to help countries reduce trade barriers for ecommerce trade, including lowering or eliminating tariffs and speeding up customs clearance.
As part of the deal, Alibaba’s logistics arm, Cainiao, will lease a 220,000 square meter logistics port at Belgium’s Liege airport and invest an initial EUR 75 million ( USD 85 million) in the project, which is set to begin operations in 2021.
Moreover, earlier in December 2018, Alibaba has announced it will jointly work with El Corte Ingle´s across multiple areas including digital payments, ecommerce, and logistics.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.