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London, October 23, 2015 – UK Trade and Investment and the leading Chinese online and mobile commerce company Alibaba will today sign an agreement to help U.K. businesses sell on Alibaba's popular China B2B e-marketplace platform.
This Memorandum of Understanding (MOU) will see Alibaba help U.K. companies join their 1688.com trading platform, a Chinese wholesale e-marketplace dedicated to helping Chinese retailers, wholesalers and distributors find overseas suppliers, including those from the U.K., to meet Chinese sourcing needs.
Alibaba estimates that the website will help U.K. companies reach more than 100 million Chinese businesses every day; nearly twice the U.K. population.
UKTI Chief Executive Dr Catherine Raines said: "We are delighted to be working with Alibaba as part of UKTI's E-Exporting Programme, dedicated to accelerating U.K. exports via online channels.
"British products are in high demand in China, one of the world's largest economies with over 650m internet users. Working with 1688.com, UK Trade and Investment will help to smooth the path that U.K. companies need to take in order to access millions of Chinese buyers looking for British goods and services."
"This agreement is also another positive step towards the U.K. government's export drive, helping 100,000 more U.K. companies to export their goods and services overseas by 2020." The first phase of the MOU will focus on the food and drink, personal care, household goods, homeware and retail sub-sectors. UKTI is working with a number of global e-marketplaces to help U.K. retailers and brands to sell through e-marketplaces, which provide a cost-effective way for companies to increase their reach to global online consumers.
Amee Chande, managing director of Alibaba Group U.K. said: "Alibaba is a gateway for international businesses and brands to sell their products to China and we strongly believe that by collaborating with organisations such as UKTI, we will be able to help more British businesses reach potential Chinese customers."
Chande concluded: "Based on our site data, we know there is a demand for high-quality British goods in China. Is our mission to open the door to China for businesses of all sizes so that they can tap into the huge opportunity that this presents to their future growth as a company."
Notes to Editors
Launched in 1999, 1688.com (www.1688.com) is a leading online wholesale marketplace in China. It serves as a wholesale channel for merchants doing business on Alibaba Group's retail marketplaces to source products from domestic wholesalers. 1688.com is a business within Alibaba Group.
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