Home / Knowledge / News / Textiles / Belgium, Alibaba promote inclusive global trade under eWTP

Belgium, Alibaba promote inclusive global trade under eWTP

11
Dec '18
Courtesy: Alizilla
Courtesy: Alizilla
The Belgian Government and China’s Alibaba Group recently announced agreeing to promote inclusive trade under the Electronic World Trade Platform (eWTP) initiative. Both parties will work to build an innovative trade platform to facilitate greater and more equitable access to cross-border trade opportunities, in particular for small and medium enterprises (SMEs).

A memorandum of understanding for the eWTP was signed recently in Liege by Belgium’s deputy prime minister and minister of employment, economy and consumer affairs Kris Peeters and senior director of Alibaba Group James Song in the presence of Belgian Prime Minister Charles Michel and Alibaba Group president of global business Angel Zhao.

“This will be a huge opportunity to boost exports and bring wide reaching economic benefits to society, including employment opportunities to Liege....This is an opportunity for not just the small businesses and young people in Belgium but across Europe,” said Michel.

The partnership will be Alibaba’s initial effort to promote inclusive global trade in Europe, building on the success of similar eWTP partnerships in Asia and Africa over the past two years, said a company press release.

A major element of the agreement is the establishment of a logistics infrastructure to support cross-border trade. Cainiao Smart Logistics Network Ltd., the logistics arm of group, and the Liege airport authority also signed a contract to lease a total area of 220,000 square meters to build a world-class smart logistics hub at Liege airport.

The initial investment will be €75 million, with the first phase of the facility planned to commence operations in early 2021.

The hub will be the cornerstone of the eWTP infrastructure collaboration, with Alibaba playing a key role in facilitating trade, particularly for accessing the China market, as part of the group’s commitment to serve as the ‘Gateway to China’ and help import $200 billion worth of quality goods from the world to China over the next five years.

In addition, both sides will work together to introduce new technologies to promote digitisation of customs procedures and more efficient clearance of goods that will be crucial for global trade, in particularly for SMEs.

Alibaba will also work closely with the Belgian Government to promote Belgium as an attractive tourist destination for Chinese tourists, the press release added. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 28th May 2020

RSA announces further COVID-19 aid for informal businesses

South Africa’s small business development minister Khumbudzo...

Pic: Boohoo

E-commerce | On 28th May 2020

UK's Boohoo acquires remaining stake in PrettyLittleThing

British online fashion retailer Boohoo recently announced it has...

Pic: Shutterstock

Textiles | On 28th May 2020

More firms leaving PRC may weaken expansion: S&P Global

Supply disruptions and geopolitical tensions are likely to hasten the ...

Interviews View All

Nishank Patel, Shri Dinesh Mills Limited

Nishank Patel
Shri Dinesh Mills Limited

Broad range of fabrics will sell well this financial year

Textile industry, Head honchos

Textile industry
Head honchos

RCEP was always going to be a double-edged sword

Textile industry, Head honchos

Textile industry
Head honchos

Clothes are no more bound by gender

Will Qian,

Will Qian

Honghua Digital Technology Stock Co., Ltd. specialises in the R&D,...

Shivani Swamy,

Shivani Swamy

The Livinguard Technology is owned by Green Impact Holding AG based in...

Yariv Bustan,

Yariv Bustan

Founded in Israel in 2015, Twine Solutions is a tech start-up that has...

Keith McMillen, Bebop Sensors

Keith McMillen
Bebop Sensors

Bebop Sensors' smart fabrics allows for a new level of interaction between ...

Kevin Young & Tom Lucas, Web Industries

Kevin Young & Tom Lucas
Web Industries

Web Industries is a precision formatter of nonwoven materials used in baby ...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Joe Ikareth, Joe Ikareth

Joe Ikareth
Joe Ikareth

<b>Joe Ikareth</b> has a rock-solid fashion and textiles background, which ...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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


May 2020

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


Advanced Search