Alibaba signs agreement for ecommerce trade hub with Belgium

Thursday 6 December 2018 14:26 CET | News

Alibaba Group has signed an agreement with the Belgium government to launch an ecommerce trade hub.

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.

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Keywords: Alibaba, agreement, ecommerce, trade hub, Belgium, eWTP
Countries: World