Alibaba inks deal with Cambodia via Jack Ma’s trade initiative as e-commerce giant doubles down on Southeast Asia
- Cambodia signed an eWTP agreement with Alibaba on Wednesday to enhance collaboration in e-commerce, cloud computing, digital talent and travel
- International commerce has become one of the fastest growing business sectors of Alibaba, where it competes with ByteDance, Shein and Temu
Hangzhou-based Alibaba Group Holding inked a deal with the Cambodian government on Wednesday to support the country’s digital economy and small business sector, using a trade framework initiated by company founder Jack Ma and showcasing the e-commerce firm’s commitment to the Southeast Asia market.
The ministry of commerce of Cambodia signed an electronic World Trade Platform (eWTP) agreement with Alibaba on the sidelines of the Belt and Road Forum in Beijing this week to enhance collaboration in e-commerce, cloud computing, digital talent and travel, according to the company, which owns the South China Morning Post.
Initiated by Ma in 2016, eWTP is a private sector-led, multi-stakeholder initiative to promote public-private collaboration and dialogue in support of inclusive global trade, according to its website. The Alibaba-backed free-trade zone in Thailand’s Eastern Economic Corridor, also part of the eWTP platform, started operating late last year.
Separately, Jiang Fan, CEO of Alibaba International Digital Commerce Group, one of the six business units of the Chinese tech conglomerate, met with Thailand Prime Minister Srettha Thavisin on the sidelines of the forum to discuss cooperation in e-commerce and tourism.
Alibaba’s collaboration with Cambodia includes the opening of 15 stores on the company’s business-to-business e-commerce platform for global trade Alibaba.com, where Cambodian enterprises can reach potential buyers from more than 200 countries, according to the company.
“Alibaba has advantages and capabilities in e-commerce platforms and talent empowerment,” Cambodia Prime Minister Hun Manet said. The launch of the eWTP partnership would “bring more opportunities to Cambodian young people, entrepreneurs, farmers, to participate in global trade, stimulate more innovation, and jointly promote the development of Cambodia’s digital economy”, he added.
Alibaba has stepped up efforts aimed at global expansion. International commerce has become one of the fastest growing business sectors of Alibaba, where it competes with other Chinese players such as ByteDance’s TikTok, fast-fashion app Shein and PDD Holding’s Temu.
