JD.com Inc. entered into three separate agreements in Thailand to promote cross-border trade between the country and China, Thai newspaper The Nation reported.
The move comes less than three months after the Chinese e-commerce company launched its online marketplace, JD Central, in Thailand in partnership with family-owned Thai conglomerate Central Group.
Yol Phokasub, president of Central Group and chairman of the board of the joint venture called Central JD Commerce, signed three memorandums of understanding between JD.com and JD Central with the International Trade Promotion Department, the Digital Economy Promotion Agency and the University of the Thai Chamber of Commerce to support Thailand's efforts to become a major e-commerce hub, the report said.
In addition to promoting trade between the two countries, the strategic cooperation also seeks to enhance the competitiveness of Thai small- and medium-sized business, according to the report.
Phokasub also reportedly said he expects the MOUs to help lay the foundation of e-commerce and e-logistics infrastructure in the country and help Thai students achieve digital literacy.
In May, Xinhua News Agency reported that JD Central pledged to help Thai SMEs promote their business and enter the Chinese market through JD.com.