Buenos Aires, Argentina, May 2, 2017 – Alibaba Group (NYSE:BABA), the world’s largest online and mobile commerce company, and the Government of Argentina, signed a Memorandum of Understanding (MOU) today to build new trade opportunities, tapping into the enormous potential of the Chinese consumer market. A range of Argentine produce is highlighted in the MOU, with both parties committing to support merchants marketing to Chinese consumers through Alibaba’s e-commerce platforms.
The signing of the agreement took place at the Presidential Office in Buenos Aires when Argentine President, Mauricio Macri met with Jack Ma, Executive Chairman of Alibaba Group during his visit to the country.
Michael Evans, President for Alibaba Group said, "This agreement strengthens trade between Argentina and China. Argentina produces some of the best wine and foods in the world. Chinese consumers have an ever-growing appetite for buying fresh produce and quality international products. The ultimate beneficiaries will be the merchants, especially small and medium enterprises, who will gain access to unprecedented cross-border trade opportunities through Alibaba’s platforms."
"This agreement is a great step for Argentina on its way to becoming the ‘supermarket of the world,’ and is part of the mission we are undertaking to bring Argentine SMEs better trade opportunities and greater global competitiveness," said Juan Pablo Tripodi, Vice President of International Trade of the Argentina Investment and Trade Promotion Agency.
There are two particular focus areas in this MOU – wine and fresh foods. Argentina is the fifth largest producer of agricultural products in the world, and boasts the famous provinces of Mendoza, San Juan and La Rioja. Under the agreement, Alibaba’s platforms will be designated as official channels by the Argentinian Government, who will also provide online and offline support for Argentine wine exports into China. These channels will be supported by campaigns to increase awareness, education about Argentine wine culture and to facilitate relationships between merchants in different countries.
China is increasingly a wine-drinking nation, although per capita consumption is still substantially lower than that of France and the U.S. thus suggesting huge potential for future growth.
In addition, both parties will work together to promote the export and marketing of Argentine fresh food and agricultural products to China, such as Argentine beef, chicken and seafood.
For the last leg of his trip, Mr. Ma will give a speech at the Centro Cultural de la Ciencia (Cultural Center of Science) to encourage and inspire young entrepreneurs to contribute to the digital economy of the country and the world.
About Alibaba Group
Alibaba Group’s mission is to make it easy to do business anywhere. The company aims to build the future infrastructure of commerce. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.