Alibaba has announced plans to expand its business operations in Russia.

Alibaba Russia’s Director General Mark Zavadsky said that the company is planning to expand its presence in Russia. The first thing that the company will do is to work more with local Russian companies. He recalled that in June, at the St. Petersburg International Economic Forum (SPIEF), Alibaba Group CEO Jack Ma outlined a strategy for the company's development in Russia. The strategy includes three phases, which includes shipping of goods from China to Russia.

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“These are [both] Russian goods and those Chinese products, which are delivered as a B2B to partnership depots, and continue their way across Russia,” he added.

Zavadsky noted that the company is already working on the second phase, which is delivering within Russia. The company aims to decrease the delivery time to Russian mega-cities to between five and seven days, Value Walk reported.

He said there are a lot of many projects with major vendors importing to Russia in the B2B format and then selling from depots in Russia. In this way, it helps in making delivery faster. Delivery from Russia to other countries is the last stage of Alibaba's business development plan.

Moreover, Alibaba’s Ant Financial Services Group has shown interest in entering the Russian micro crediting market, according to TeleTrader Software. The Chinese micro crediting service is currently looking for the right partner in Russia as the company aims to intensify its operations in the country.

TagsAlibaba, Russia, Jack Ma, Ant Financial Services Group, chinese e-commerce, e-commerce, Alipay, micro crediting service