China’s e-commerce giant has forged a partnership with local Bangladesh e-tail company Tradeshi Ltd with the aim of turning 20,000 manufacturers in the South Asian nation into entrepreneurs.
“We want to provide a platform that would create 5,000 SME entrepreneurs in three years in Bangladesh,” Alibaba strategic director Jack Zhang said, according to the Dhaka Tribune.
The initiative is expected to help Bangladesh diversify its exports as they be more easily able to export their products using Alibaba’s platform.
What’s more, it would be an opportunity for Bangladesh to advance its global branding to attract buyers from more countries, especially allowing for networking with buyers from Africa, South America, Eastern Europe, Russia, East Asia and Asia Pacific.
The E-commerce Association of Bangladesh has proposed making a platform that would allow Bangladesh to import products from China and the government of Bangladesh is reportedly mulling an e-commerce policy that would dictate the promotion of e-commerce for the country.
Adding greater e-commerce capabilities at a time when supply chains are increasingly moving online and competition among low-cost countries is steep could be beneficial to the industry in Bangladesh. And beneficial to Alibaba, of course.
“Currently, Bangladesh has more than 15 million online subscribers and if we net 10 percent of them, it would be a huge market for us,” the Tribune reported Zhang as saying.