34.4 C
Cairo
April 17, 2024
Egypt Bulletin
PR Newswire

Alibaba.com and ITC Expand Access to Global Markets for African MSMEs

HANGZHOU, China, April 3, 2024 /PRNewswire/ — International Trade Centre (ITC) and Alibaba.com have joined forces to introduce the “Global Digital Trade Accelerator for MSMEs in Developing Countries” initiative during the 2021 China International Import Expo (CIIE) in Shanghai, China. This collaborative effort aims to bolster Micro, Small, and Medium-sized Enterprises (MSMEs) in developing countries, enabling them to elevate their international export competitiveness and drive sustainable development through the effective utilization of e-commerce platforms.

Alibaba.com logo

At the 2023 CIIE, ITC and Alibaba.com provided booth spaces for African companies to showcase their products to attract Chinese buyers. ITC and Alibaba.com also organized a signing ceremony at the African Pavilion during which the parties signed MOUs with 40 African companies with the aim of strengthening their capacity to use Alibaba.com’s platform to explore business opportunities worldwide. By the end of March 2024, the first batch of 9 African companies have successfully joined Alibaba.com and started to sell globally, in collaboration with ITC’s Partnership for enhancing export capacity of Africa to China (PEECAC) project.

With the joint forces of ITC’s expertise and Alibaba.com’s resources, this initiative aims to empower MSMEs in developing countries, with a particular focus on Africa, by harnessing the potential of digital trade. This partnership enables these businesses to access global markets, expand their customer base, and foster economic growth and sustainable development.

As the joint agency of the World Trade Organization and the United Nations, ITC is at the forefront of linking MSMEs to global markets. With a commitment to achieving the United Nations Sustainable Development Goals, ITC strives to promote trade that benefits both people and the planet.

Alibaba.com, one of the leading international B2B e-commerce platforms, boasts a robust global presence. With over 47 million buyers from approximately 200 countries and regions, Alibaba.com offers MSME suppliers opportunities to establish direct contact and effectively communicate with buyers worldwide and streamline their operations with the help of digital technology.

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