June 21 saw the launch of 1688 Russian Station, a wholesale platform jointly founded by the Russian government, Russia Foodstuff Producers and Suppliers Association and the 1688 import market.
1688, the main business of Alibaba, is a professional platform for buyers and sellers, focusing on wholesale and purchase. Via specialized operations, it improves customer experience to fully optimize the business model of corporate e-commerce.
At present, there are 33 importers carrying nearly 100 Russian brands, including cereals, flour, vodka, vegetable oils, honey candy, and nuts brought by traditional Russian food companies.
According to data from the Russian Statistics Office, Russia’s exports to China in 2017 totaled $38.92 billion, up a whopping 38.9%, and accounting for 10.9% of Russia’s total exports. China has become Russia’s largest export market.
The 1688 import market stated that it planned to introduce over 100 Russian brand merchants to the Russian platform in 2018 to help Chinese buyers complete the procurement of Russian goods. It is expected that the annual trade volume will reach $240 million.
Russia’s exports to China in 2017 totaled $38.92 billion, up a whopping 38.9%, and accounting for 10.9% of Russia’s total exports.
The 1688 platform plays an important role in the implementation of the globalization strategy of Alibaba Group. In 2017, China’s 1.4 million purchasers will be able to access nearly 300,000 imported products from 158 countries and 30,000 overseas small and medium-sized brands via the 1688 platform.
Yahong Pan, the import manager of 1688 import market, hoped to help more small and medium-sized overseas brands enter the Chinese market.
In 2017, Russian export companies and Alibaba executives reached an agreement on launching the Russian Station for B2B business. All Russian enterprises on the Alibaba platform can sell a large number of commodities to Chinese procurement companies and retailers via the B2B model. Also, it will promote the growth of the trade volume of e-commerce between the two countries.
In September 2016, Russian Export cooperated with Alibaba. Alibaba’s Tmall Global has launched its own “Russian Station.”
In 2017, Russian export companies and Alibaba executives reached an agreement on launching the Russian Station for B2B business.
The agreement is not the same as the Russian Station opened by Tmall Global. Tmall Global Russia Station adopted a B2C model, which falls enough cross-border e-commerce retail. It is also does not complete in terms of product categories. The main products are food products, such as chocolate and flour, and there are also some types of daily chemicals and toys. The types of goods covered by this agreement will be more extensive.