Ethiopia has signed a new Memorandum of Understanding with Alibaba Group. The MoU will create an Electronic World Trade Platform (eWTP), that will scale the digital economy of East African Countries.
Ethiopian Prime Minister Abiy Ahmed and Jack Ma signed the MoU, during Jack Ma’s visit to Addis Ababa.
The Electronic World Trade Platform (eWTP) is a private sector and multi-stakeholder initiative that allows public and private companies to cooperate and incubate eTrade rules. These rules will create an effective business environment for cross border electronic trade development.
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The documents of the MOU contains principles of the eWTP framework, digital capacity building and the creation of a digital hub in Ethiopia.
The CEO Alibaba Group and pioneer of eWTP, Jack Ma noted that the agreement was birthed from his interest to work with entrepreneurs and SMEs in Ethiopia and other African countries.
The eWTP will make Ethiopia a gateway for the globalization of Africa. It will also open the door for entrepreneurs to benefit from international trade.
It will create a leveled business ground for SMEs to access information on foreign trades and investments, get finance from angel investors and expand to new markets.
Ethiopia will facilitate e-trade, adopt best trade practices, and increase its stride toward sustainable economic growth via the agreement.
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