Mexican president Peña Nieto in China for Alibaba deal
Mexican president Enrique Peña Nieto and Alibaba Group executive chairman Jack Ma witness the signing of a memorandum

Mexican president Peña Nieto in China for Alibaba deal

Alibaba Group executive chairman Jack Ma and Mexico president Enrique Peña Nieto have witnessed the signing of a memorandum of understanding designed to promote Mexican products and assist companies seeking to tap into the dynamic Chinese economy through e-commerce.

Alibaba Group president Mike Evans and undersecretary of industry and commerce of the ministry of economy of Mexico José Rogelio Garza were the signatories of the partnership.

Under this agreement, Alibaba will work closely with the Mexico to help small and medium-sized enterprises expand into international markets, in particular China, starting with a tailored program for them to benefit from the company’s business-to-business trading platform, Alibaba.com.

Alibaba, together with its ecosystem partners, will also share expertise in logistics and payment platforms in order to enhance the cross-border e-commerce capabilities of Mexican companies and to attract Chinese tourists to Mexico.

ADVERTISEMENT

“Alibaba is one of the world´s largest technology companies with a sophisticated e-commerce ecosystem and a remarkable reach of more than 500 million active annual consumers globally,” said president Peña Nieto.

“By partnering with Alibaba, we can expand Mexico’s export options in China and in Asia more broadly, while enhancing Mexican small and medium sized enterprises’ knowledge of e-commerce and cross-border trade.”

Ma travelled to Mexico in May of this year and met with Peña Nieto to discuss how technology plays a critical role in economic development and competitiveness.

Discussions regarding the signing of this deal began during that visit and today’s announcement demonstrates Alibaba’s interest in, and commitment to, facilitating the entry of Mexican companies into the large Chinese consumer market.

China is Mexico’s third largest trading partner globally, with much room for growth.

Today, well-known Mexican products, ranging from agricultural products to packaged food and tourism, are already being sold in Alibaba’s ecosystem.