BUSINESS

Alibaba plans on following Cosco Pacific into Greece

TAGS: Business

Chinese online-shopping giant Alibaba is expressing an interest in Greece now that Cosco Pacific’s investment in the port of Piraeus appears to be in the bag.

Officials of the world’s biggest online sales corporation will visit Athens this week, and in September Alibaba has arranged for contacts with the Greek government and with members of the local business community.

On Wednesday at 1 p.m. a senior Alibaba Group official is scheduled to hold a press conference at the Athens Chamber of Tradesmen (EEA), which is also participating in the effort to bring Alibaba to Greece. The official will present the Chinese company’s plans regarding the expansion of its activities into this country.

New York-listed Alibaba enjoys a capitalization of over $200 billion and its sales are growing at an annual rate of between 35 and 45 percent.

Its interest in the Greek market is predominantly focused on Greek exporting companies (mainly offering standardized products) that have set their sights on penetrating the huge Chinese market, as well as Greek suppliers of tourism services, who would be able to receive the growing numbers of Chinese tourists visiting Greece.

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