China-based online retailer Alibaba Group has signed a letter of intent (LOI) to enhance Thailand's e-commerce market.

Under the terms of the agreement, Thailand and Alibaba will partner on initiatives such as training for small and medium-sized enterprises (SMEs) and individuals.

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It will also explore ways to improve the country’s logistics capabilities to aid Thailand's 4.0 and digital economy strategies.

"Alibaba’s vision has always been about empowering small businesses and young people, particularly those in developing nations."

The LOI was signed by Thailand’s permanent secretary Wiboonlasana Ruamraksathe and Alibaba Group president Michael Evans at the latter's headquarters in Hangzhou, China.

Thailand deputy prime minister Somkid Jatusripitak said: “This visit to Alibaba represents a continuation of the bilateral talks between the prime minister and Jack Ma.

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“The signing of the agreement between the Ministry of Commerce and Alibaba is in line with the government’s policy to drive Thailand forward under the Thailand 4.0 and Digital Economy strategies, and marks a new chapter in our public-private partnership with world-class organisations and leading e-commerce platforms, as well as academic institutions in the future."

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Alibaba Group executive chairman Jack Ma said: “We are very honoured to have this opportunity to work with the Thai Government. I would like to thank the Thai people for their trust, because trust is the basis of any successful partnership.

“Since the founding of our company 17 years ago, Alibaba’s vision has always been about empowering small businesses and young people, particularly those in developing nations.

"We want to partner with governments and organisations that share this vision and commitment. By working together and applying technology and innovative ideas, I believe we can make that vision a reality, and magic will happen.”

The agreement requires Alibaba to provide e-commerce training to 30,000 Thai SMEs, as well as involves a People and Talent Development programme to train approximately 10,000 individuals for digital technology proficiency.

It also aims to improve the country’s supply chain and logistics systems, in order to expand delivery services to all provinces by next year.

Alibaba and the Thai Government will also explore co-operation options and aid the development of the country's digital technology and regional data centres in South-East Asia.

Image: Thailand's senior government officials, led by Deputy Prime Minister Somkid Jatusripitak, and Alibaba Group's management team, led by executive chairman Jack Ma at the signing ceremony. Photo: courtesy of Alibaba Group.