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Wednesday / December 12.

Alibaba signs agreement with Belgium for e-commerce trade hub


Robots operated by Alibaba’s logistics unit Cainiao, move parcels at a new automated guided vehicles (AGV) warehouse inside the hub of delivery company YTO Express, in Hangzhou, Zhejiang province, China September 14, 2018. REUTERS/Stringer

BEIJING (Reuters) – Alibaba Group Holding Ltd said on Wednesday 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 Southeast 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 75 million euros ($85.04 million) in the project.

Reporting by Cate Cadell; editing by Darren Schuettler



via Reuters