Alibaba Group and The Ministry of Economy of Mexico have signed a Memorandum of Understanding designed to promote Mexican products and assist companies seeking to tap into the dynamic Chinese economy through e-commerce.
Alibaba Group’s Executive Chairman Jack Ma and Mexico’s President Enrique Peña Nieto witnessed the signing of the MoU while Alibaba Group President Mike Evans and Undersecretary of Industry and Commerce of the Ministry of Economy of Mexico José Rogelio Garza were the signatories of the MoU.
Under this agreement, Alibaba will work closely with the Ministry of Economy of Mexico to help Mexican Small and Medium-sized Enterprises (SMEs) expand into international markets, in particular China, starting with a tailored program for them to benefit from the company’s B2B trading platform, Alibaba.com. Alibaba, together with its ecosystem partners, will also share expertise in logistics and payment platforms in order to enhance the cross-border e-commerce capabilities of Mexican SMEs and to attract Chinese tourists to Mexico.
Alibaba will also share with Mexican SMEs international best practices related to digital transformation and e-commerce trends. Specialized training will focus on key areas including e-commerce, digital payments, logistics and analytics that drive consumer insight, product innovation and rural development in China. This is an effort to create a more inclusive world by helping SMEs and entrepreneurs to better reap the benefits of globalization by leveraging e-commerce and learning from Alibaba’s experience in China.
“Alibaba is one of the world´s largest technology companies with a sophisticated e-commerce ecosystem and a remarkable reach of more than 500 million active annual consumers globally,” said President Peña Nieto. “By partnering with Alibaba, we can expand Mexico’s export options in China and in Asia more broadly, while enhancing Mexican SMEs’ knowledge of e-commerce and cross-border trade.”
“Alibaba is committed to inspiring, motivating and enabling SMEs from around the world to grow and thrive through e-commerce and the use of technology,” said Alibaba Group’s Executive Chairman, Jack Ma. “We are delighted to help promote cross-border trade with Mexico through this MoU. We view our cooperation as a way to energize economic development in both countries.”
Ma travelled to Mexico in May of this year and met with President Peña Nieto to discuss how technology plays a critical role in economic development and competitiveness. Discussions regarding the signing of this MoU began during that visit and today’s announcement demonstrates Alibaba’s interest in, and commitment to, facilitating the entry of Mexican SMEs into the large Chinese consumer market.
China is Mexico’s third largest trading partner globally, with much room for growth. Today, well-known Mexican products, ranging from agricultural products to packaged food and tourism, are already being sold in Alibaba’s ecosystem.