Malaysia and Singapore unite for digital trade connectivity
Malaysia and Singapore partner to create seamless, secure digital trade, advancing ASEAN’s regional integration goals.
MY E.G. Services Berhad (MYEG) of Malaysia and Singapore Trade Data Exchange Services (SGTraDex) have partnered to enhance digital trade connectivity between Malaysia and Singapore.
The strategic collaboration aims to develop interoperable digital platforms that enable seamless, secure, and paperless exchange of trade-related data across borders.
By aligning their digital infrastructures, the partnership seeks to set a new standard for digital trade within the ASEAN region, facilitating smoother cross-border trade flows and supporting the ASEAN Digital Economy Framework Agreement (DEFA).
That initiative promotes mutual recognition of digital identities, electronic trade documents, and regulatory credentials, all of which are crucial to accelerating trade facilitation and supply chain resilience.
A key focus of the collaboration is the technical integration of MYEG’s Zetrix blockchain platform with SGTraDex’s systems, ensuring secure, immutable, and traceable exchange of verified trade information between governments and businesses.
The use of blockchain technology underpins the transition from traditional paper-based trade processes to fully digital trade flows, enhancing transparency and security in cross-border transactions.
The partnership aims to expand regional digital trade integration, potentially involving China and the Gulf Cooperation Council (GCC) countries.
Both parties plan to explore new business-to-business (B2B) and business-to-government (B2B2G) use cases, joint product development, regulatory knowledge exchange, and sandbox coordination to foster innovation and interoperability.
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