TradeEase is the name of a new joint project between Russia and China which aims to ease online retailing between the two nations. This agreement allows online shops to sell to the respective other country. It is expected that some 800 Chinese shops will join the program by the end of this year to enjoy benefits such as the mutual acceptance of local payment systems and other services. It is estimated that merchandise worth some $20 million will cross the border in both directions in the course of the first year of operations.
China’s online retail is big in Russsia
Chinese online retailers seem to already be popular in Russia. Reportedly, some 100,000 Russian customers already enjoy deliveries made easier by TradeEase in its first three months of existence.
The big players in China, JD.com and Alibaba, have been quite active across the northern border recently. For JD, Russia is the first foreign market it is targetting. Alibaba, on the other hand, is the pioneer in shipping Russian goods to Chinese consumers through its AliExpress format. It is said that AliExpress attracts about 15.6 million Russian customers every month.