Alibaba.com has signed a Memorandum of Intent (MOI) with International Trade Centre (ITC) to encourage MSMEs to take part in the global digital trade. Following the MOI signing, Alibaba.com and ITC will work together to support SMEs in developing countries, including those in Africa, in aspects such as accelerating their digital transformation, raising their international competitiveness, helping them explore opportunities in global digital trade, and boosting local employment.

The collaboration will see enhanced efforts to onboard SMEs in developing countries to the Alibaba.com platform. Building on previous efforts to augment SMEs The two have previously teamed up in 2021 to launch a programme named the ‘Global Digital Trade Accelerator’ for SMEs in developing countries. As a result, SMEs from 22 African countries including Egypt, Kenya, Morocco, and South Africa have embraced B2B ecommerce as a cost-effective means to enter the international market and effectively manage their global trade business.

In late February 2023, Alibaba.com has taken further steps to boost digital trade adoption in Africa by entering into a Memorandum of Understanding with the Rwanda Development Board. This is expected to allow the first group of 20 Rwandan SMEs to start digital exports through Alibaba.com. Officials from ITC said MSMEs are the backbone of most economies worldwide, and Alibaba.com's efforts to help them connect and trade globally are significant.

The digitalisation of trade is a game-changer and can help MSMEs tap into new markets and grow their businesses. Alibaba.com is a strong partner in this journey. In a co-hosted webinar by Alibaba.com and ITC, the two companies shared insights into some of the latest digital trends and tools available for MSMEs worldwide.

During the webinar, ITC emphasised that small businesses could reap significant benefits from ecommerce if they transform their organisational structure, invest in digital skills, and establish a strong online presence. It also advised businesses to prioritise B2B ecommerce and select appropriate sales channels to engage in international ecommerce successfully. Alibaba.com concurred on the value of digital transformation for MSMEs during the webinar, explaining its benefits of reducing business risks, expanding customer reach, improving productivity and cost management, and boosting company profits.

It also highlighted the growing popularity of B2B livestreaming as a viable digital marketing means for MSMEs, which has been gaining traction on its platform and accumulated more than 13 million viewers by 2022. .