China's e-commerce giant Alibaba is optimistic about the potential prospects for the development of Russian online trading market, as the company plans to expand and invest more in the country, the Xinhua News Agency reported.
Jack Ma, founder and chairman of the company, said that although Alibaba has only one employee in Russia, AliExpress still managed to become the number one most visited e-commerce website in the country.
Smaller buyers around the world can buy small quantities of goods at wholesale prices in AliExpress, which was launched in 2010.
Ma said that AliExpress's rapid expansion in Russia shows the huge potential and consumer demand for e-commerce in the country.
The Alibaba founder and CEO said that the company is considering plans to invest more in human resources and technology to expand businesses in the country, as well as enable Russian businesses to sell their products to China and other parts of the world.
Ma, who attended the St. Petersburg International Economic Forum, held from June 18-20, also met with Russian officials to discuss different issues concerning e-commerce.
"We discussed the future development of e-commerce with the Communications Ministry, with the Economic Development Ministry; we talked about the development of small and medium-sized enterprises (SMEs) as well as the whole Russian market; we also had discussions with the Russian Post on how to make the quickest cross-border delivery from China to Russia," Ma told Xinhua.
Ma said that he expects the development of e-commerce in Russia to bring more opportunities for small and medium enterprises (SMEs) and improve the relevant infrastructure.
The Alibaba founder said that Alibaba can share with its Russian partners its experience in operation and management, especially in e-commerce and Internet development.
Ma also noted that both Russian enterprises and Chinese companies will have opportunities in the future, as Russian President Vladimir Putin had urged to liberalize the economy and open up the market during the forum.
"The Big Data era, alongside the Internet revolution, brings challenges and opportunities to every country. It is time for developing and underdeveloped countries and regions to catch up," Ma said.
Ma has expressed belief that the development of e-commerce can bring a more transparent and open system to the current global trade system. He said that SMEs in developing countries should reap the benefits of globalization.
He added that China's Belt and Road initiative could help break trade barriers and promote the Internet and e-commerce in countries along the "cyber Silk Road" routes.