Alibaba Group is setting up its first overseas “e-hub” for what CEO Jack Ma calls the Electronic World Trade Platform (eWTP). The new outpost, in Malaysia’s new Digital Free Trade Zone (DFTZ), is expected to be launched by the end of 2019. The news underscores the pace at which the Chinese e-commerce giant is expanding its footprint in the Asia-Pacific region.
The e-hub “will function as a centralized customs clearance, warehousing and fulfilment facility for Malaysia and the region, to deliver faster clearance for imports and exports,” Alibaba said in a statement.
In the first phase, Alibaba will set up a regional e-commerce and logistics hub near the Kuala Lumpur International Airport.
Memorandums of understanding have also been inked between Alibaba-owned Ant Financial and Malaysian financial services providers, CIMB Bank and Maybank to offer payment services, financing opportunities and talent development.
The video below is an introduction to Alibaba’s Electronic World Trade Platform (eWTP)
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