>>
Home / Knowledge / News / Apparel/Garments / Alibaba's eWTP finds first overseas base in Malaysia
Alibaba's eWTP finds first overseas base in Malaysia
24
Mar '17
Courtesy: Alizilla
Courtesy: Alizilla
In a step towards using the internet to bring small businesses around the world into the global economy, an e-hub has been set up in Malaysia. The e-hub is the first facility outside China where creation of digital free-trade zones for small and medium-sized enterprises was proposed by Alibaba. The concept is called Electronic World Trade Platform (eWTP).
 
The opening of the e-hub was announced by Alibaba executive chairman Jack Ma in Kuala Lumpur. The digital free trade zones are meant to offer simple and straightforward regulations, lower barriers for entry into new markets and provide small businesses with easier access to financing.
 
Alibaba said it wants to establish these special trading areas in markets around the world, creating an "e-road" between them. Last year, the company helped to launch the China (Hangzhou) Cross-Border E-Commerce Comprehensive Pilot Free Trade Area, which will now be connected to the hub in Kuala Lumpur.
 
The new e-hub involves multiple partners carrying out numerous functions to facilitate cross-border trade. They include an e-fulfillment hub based near Kuala Lumpur International Airport which will function as a customs clearance, warehousing and fulfillment center for the region, a one-stop, online, cross-border trading services platform to link the Malaysian e-hub to the original one in Hangzhou, allowing for easier trade for SMEs between the two countries, e-payments and financing to facilitate business-to-business trade for Malaysian SMEs, and training programmes for startups. 
 
For the past year, Ma has been calling for the establishment of an eWTP. The idea has since gained traction with business and government leaders. The eWTP was included in the official communiqué of the G20 summit in Hangzhou, Alibaba's home base, in September 2016. But the new Malaysia location, a partnership with state-run Malaysia Digital Economy Corp, the country's digital economy development agency, is the first such e-hub to be set up outside of China.
 
"I laid out the vision for eWTP last year, and we, as a company, have taken on the responsibility to make this a reality. The first e-hub under the eWTP outside of China will go a long way towards making global trade more inclusive and provide much needed support to a hugely important constituent: SMEs and the younger generation," Ma said in a statement. 
 
Malaysia is tying up with Alibaba because the country is looking for ways to position itself as a fulfillment and logistics center, expand its internet economy and attract foreign investment, the statement said. 
 
During the launch ceremony, Alibaba and MDEC, affiliate Cainiao Network and Malaysia Airports Holdings Berhad, and Ant Financial and Malaysian banks CIMB and Maybank, signed memorandums of understanding to offer a greater range of services related to digital free trade. (SV)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 25th Jan 2022

New US legislation to fix import loophole, boost oversight unveiled

Earl Blumenauer, chairman of the US House of Representatives ways and ...

Pic: Shutterstock

Apparel/Garments | On 25th Jan 2022

China’s garment industry earned $209 bn in revenue in Jan-Nov 2021

About 12,659 garment companies of China earned a combined operating...

Pic: Shutterstock

Apparel/Garments | On 25th Jan 2022

AmCham says RCEP aligns with economic reforms in Philippines

AmCham Philippines has joined the call for the immediate concurrence...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Ensured payment of fee was least concern for students

Textile Industry, Head honchos

Textile Industry
Head honchos

Luxury is not just about high prices but ability to create desire

Textile Industry, Head honchos

Textile Industry
Head honchos

Global supply chain collapsed during the pandemic

Harleen Kaur,

Harleen Kaur

Established in 2017 and headquartered New York, the label Harleen Kaur...

Barry Goodwin,

Barry Goodwin

UK based Amba Projex Ltd designs, manufactures, and installs industrial...

Abdullah Mohammad Saad Hossain,

Abdullah Mohammad Saad Hossain

Saad Group is a leading vertically integrated textile group in Bangladesh. ...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

 Natacha Defeche, Edana

Natacha Defeche
Edana

Since 1971, EDANA, the International association serving the nonwovens and ...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Ramya Rao & Kavea R Chavali, Kalaneca

Ramya Rao & Kavea R Chavali
Kalaneca

<div>The journey of Kalaneca (kala-Art, Neca- Nikaah) formally began in...

Bav Tailor, Label Bav Tailor

Bav Tailor
Label Bav Tailor

Born in London and Indian by origin, <b>Bav Tailor </b>is the Founder of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments

ESTEEMED CLIENTS

Guess Europe Sagl,
BIMBA ;& LOLA SL
Helly Hansen Far East Ltd
Grasim Industries Limited
International Textile Manufacturers Federation
KIABI
Target Corporation (MN)
Chori Company Limited
Cat Tuong Real Estate Group Joint Stock Company
Midas Clothing Limited
Hela Clothing Pvt Ltd
Recron Polyester from Reliance Industries Limited
Decathlon
Sainsbury's Argos Asia Limited
PVH Corporation
IDH – The Sustainable Trade Initiative
Seasalt Limited
Lisa S.P.A.
OVS Hong Kong Sourcing Ltd.
Puma
Boardriders Asia Sourcing Limited
Gatsby Africa
Eastman Chemical Company
Restoque S.A.
SHAHI Exports Pvt Ltd
Walmart
Reiter India Private Limited
Alix Partners
HYOSUNG CORPORATION INDIA PRIVATE LIMITED
Maceton Limited
Groz-Beckert East Asia LLP
Aramark Uniform ;& Career Apparel, LLC
J ;& P Coats
John Varvatos
Sportswear Company Spa
Vardhman Textile Ltd
Gloria Jeans
Varner AS Retail
Splash
Aquarelle Clothing Limited
Amazon China
The LYCRA Company Singapore  Pte. Ltd
The Top Form Brassiere Manufacturing Company Limited
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
NITI Aayog
Phong Phu international JSC (PPJ)
C;&A Sourcing International Ltd
MAS Active / MAS Kreeda / MAS Bodyline
Tchibo GmbH
SYNERGIES HONG KONG LIMITED
Brandix Lanka Limited
BIANCA
Huntsman (Singapore) Pte Ltd
Abit
Gap International Sourcing Limited
Vianney Textil Hogar S.A. De C.V.
Lululemon Athletica Inc
Lacoste (Wanchai)
Lenzing Aktiengesellschaft
Hirdaramani International Export Private Limited
Tommy Hilfiger
Rayonese Textile Inc., Division de Culp Inc.
BIRLA CENTURY A DIVISION OF CENTURY TEXTILES AND INDUSTRIES
Permoda(Koaj/Armi/Pronto/Bkul)
Sateri (Jiujiang) Fiber Co.,Ltd
Chico’ FAS
Alison Hayes Romania
Arvind Limited
Page Industries Limited (Bangalore)
Esprit Europe Services GmbH
Bluestem Global Sourcing Limited
Truetzschler India Private Limited
Gokaldas Exports Limited
Desigual - ABASIC, S.A.
Lifestyle
TESCO INTERNATIONAL SOURCING LIMITED
LC Waikiki
KAS Direct Sourcing
T.T. Limited
Under Armour Global Sourcing Ltd
Calvin Klein
THE BOMBAY DYEING ;& MFG.CO. LTD
IKEA of Sweden AB
G-Star Raw C.V.
Babyshop
Sportmaster Ltd.
Etam Group Strategy Hong Kong Limited
Landmark Group
Asos
Rosset ;& Cia Limited

January 2022

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search