Image Source : China Visual

BEIJING, December 9 (TMTPOST) ——The first digital free trade zone built by Alibaba’s world electronic trade platform eWTP and Thailand has officially started trial operation, which marked a major step after the signing of the memorandum of cooperation between eWTP and Thailand in 2018.

Upon the operation of the digital free trade zone, Chinese SMEs' export to Thailand will become more convenient, fast, and compliant. The free trade zone, which entered trial operation on Thursday, is also the first of the kind established by means of digital technologies in Thailand.

eWTP is a world electronic trade platform initiated by Alibaba and joined by multiple parties. In China, the cross-border e-commerce bonded model has been explored for eight years, and the completion of Thailand's digital free trade zone also marks the successful replication of China's cross-border e-commerce bonded model in Thailand.

Thailand is an important logistics hub in Southeast Asia, and one of the best foothold for e-commerce companies to develop regional distribution and logistics systems. After the free trade zone is put into use, cross-border goods can be prepared in the bonded warehouse after the declaration of entry into the zone is completed. With this new model, the period for cross-border e-commerce from China to Thailand will be reduced from 10 days to 3 days.

The Thailand Digital Free Trade Zone is located in the Eastern Economic Corridor of Thailand, adjacent to the artery of the Thai economy, covering an area of 40,000 square meters. eWTP has worked closely with the Eastern Economic Corridor Office and Thai Customs to complete the innovative model of the Digital Free Trade Zone.

Thai Customs staff said that the eWTP Thailand public service platform can realize the digital supervision of the Free Trade Zone. From the entry of goods into the territory of Thailand to the final distribution to consumers, digital technology can make goods traceable, especially in the process of customs transfer, to ensure the real-time supervision of the whole working process of Thai Customs.