President Paul Kagame of Rwanda and Alibaba Group Executive Chairman, Jack Ma have signed Memoranda of Understanding (MoU) to establish electronic world trade platform (eWTP) hub in Rwanda. This deal makes Rwanda the first country in Africa to establish an eWTP hub.
In a statement released by the Alibaba Group, the agreements pave the way for policy innovation, enabling cross-border trade of Rwandan products to Chinese consumers, facilitating tourism to Rwanda, and providing capacity building to support the African country’s digital economy.
“The Electronic World Trade Platform opens up new frontiers in e-commerce and tourism for Rwanda, and will also boost the capacity and competitiveness of our entrepreneurs and businesspeople”, said Kagame. “Rwandan producers will be able to sell directly to a much larger set of customers than before, while bypassing costly intermediaries. This improves productivity and profitability. There really are no downsides to doing business on a global scale.”
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In his statement, Ma said “I am delighted that Rwanda is the first eWTP partner in Africa, and I look forward to the development of an innovative digital economy here. Entrepreneurs in Rwanda, and elsewhere in Africa, are ready to seize the opportunities offered by the digital economy. It is up to all of us to help them succeed.”
The agreement will make Alibaba work with the Rwanda Development Board (RDB) to help Rwandan SMEs sell their products, including coffee and handicrafts, to Chinese consumers through Alibaba’s online marketplaces.
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