Finance

Alibaba Signs Agreement With Belgium For E-Commerce Trade Hub

Alibaba Group Holding Ltd said on Dec 5 it has signed an agreement with the Belgium government to launch an e-commerce trade hub, which will include investments in logistics infrastructure.

The project is part of Alibaba’s Electronic World Trade Platform (eWTP) and the company has made similar agreements in South-East Asia and Africa.

Alibaba’s logistics arm, Cainiao, will lease a 220,000 square meter logistics hub at Belgium’s Liege airport as part of the deal and invest an initial €75mil (RM353.25mil) in the project.

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