RWANDA AND ALIBABA GROUP SIGN AGREEMENT TO HELP BOOST ECONOMIC DEVELOPMENT
Rwanda and Alibaba sign an electronic world trade platform (eWTP) agreement to help boost economy.
The Rwandan government and Alibaba Group, a leading international online commerce company; have signed three (3) Memoranda of Understanding (MoU) to help boost the country’s economy.
Under the agreement, Alibaba have also established an electronic world trade platform (eWTP) hub in the small East African nation. This have also made Rwanda the first country in Africa to establish an eWTP hub. The country is the regional trailblazer with perceptions of creating world-class digital infrastructure.
The agreement with Alibaba Group will strengthen Rwanda’s economic development by promoting policy innovation and also enabling the cross-border trade of Rwandan products to Chinese consumers. It will also help in facilitating tourism to Rwanda, and in capacity building. This will, in turn, also empower the growth of Rwanda’s digital economy.
The eWTP is a multi-stakeholder global initiative that promotes public-private dialogue which fosters a more effective and efficient policy and business environment. It is also helps in enabling small and medium-sized enterprises (SMEs) participate in cross-border electronic trade.
The Electronic World Trade Platform will open up new frontiers in e-commerce for Rwanda. Rwandan producers will now able to sell directly to a much larger set of customers and also bypass unnecessary and costly intermediaries. This will boost the capacity and competitiveness of entrepreneurs and also improve productivity and profitability.
Details of the Memoranda of Understanding (MoU)
Under the agreement, Alibaba will partner with Rwanda Development Board (RDB) in helping Rwandan SMEs sell their products, including coffee and handicrafts, to Chinese consumers. These sales will be through the Alibaba’s online marketplaces.
Also Alibaba’s travel services platform, Fliggy, will help promote Rwanda as a a tourist destination. This will be through a Rwanda Tourism Store for booking flights, hotels and travel experiences. It also includes a Destination Pavilion where Chinese consumers can learn about visiting the country. There will details about its beautiful natural parks, through engaging video content.
Lastly, Alibaba affiliate, Ant Financial will share expertise in inclusive financial tools, such as mobile payments, to support the Rwandan digital economy.