Alibaba and Austrade forge strategic link

An agreement has been inked between Alibaba and Austrade in Hangzhou to boost trade opportunities for Australian companies.

Prime Minister Malcolm Turnbull and Alibaba Group’s founder and executive chairman Jack Ma witnessed the signing of a 'strategic cooperation agreement' at a ceremony at Alibaba Group’s corporate headquarters in Hangzhou, on the sidelines of the G20 Summit.

The agreement aims to better assist Australian companies in accessing Alibaba’s 434 million online consumer base in China.

Malcolm Turnbull said Alibaba “enables the smallest businesses, the mom-and-dad businesses, in the regional part of Australia to have access to the biggest part of the world, something that hitherto only a very large company with enormous resources, with enormous representation would be able to do.

“It’s a liberating force for small business. And because so many of the services are available on the cloud, again it reduces the cost of business and levels the playing field between the big company and the small company.”

Jack Ma said, “the next chapter of trade between China and Australia will require closer cooperation and this agreement provides a new framework to ensure more businesses, especially small and medium enterprises, can benefit through the partnership between Austrade and Alibaba.

“Together we can all work jointly to support Australian jobs and shape a new future for many people and businesses through the cooperation forged today."