China’s Alibaba Group recently signed an agreement with the Thai Government to build a smart digital trading hub there and develop its capabilities in e-commerce, digital logistics, tourism and training. The partnership will give Thailand access to technologies and processes to advance its economy, while Alibaba gains a stronger foothold in that country.
Alibaba will boost trade efficiency in Thailand and educate Thai entrepreneurs and small and medium enterprises (SMEs) in digital commerce, according to a company press release.China's Alibaba Group recently signed an agreement with the Thai Government to build a smart digital trading hub there and develop its capabilities in e-commerce, digital logistics, tourism and training. The partnership will give Thailand access to technologies and processes to advance its economy, while Alibaba gains a stronger foothold in that country.#
The hub, to be located in Thailand’s Eastern Economic Corridor (EEC), will leverage technologies from Alibaba and its logistics platform, Cainiao Network, to streamline trade between Thailand and China and other markets, including digitizing the customs process.
The EEC is a key part of government program, called Thailand 4.0, aimed at expanding the economy beyond heavy industry and agriculture to technology and other innovations.
Both sides will also start educational initiatives to teach SMEs and entrepreneurs best practices for e-commerce to help increase the know-how and sophistication of Thailand’s labour force.
The deal also gives Thailand greater access to China’s consumer market. Related to the agreement, a flagship store was launched on Alibaba’s Tmall platform to sell Thai rice, the country’s chief export. Alibaba said it would also help drive sales of popular Thai fruits, such as durian, into China. Alibaba-owned online travel platform Fliggy is also part of the arrangement. (DS)
ALCHEMPro News Desk – India
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