dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Social Links
  • zedreviews.com
  • citi.io
  • aster.cloud
  • liwaiwai.com
  • guzz.co.uk
  • atinatin.com
0 Likes
0 Followers
0 Subscribers
dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
  • Lah!

World’s Largest Business Organisation Joins Singapore Government & Major Industry Partners to Drive Global Digitalisation in Trade & Commerce

  • January 23, 2020
Total
0
Shares
0
0
0

ICC, the Singapore Government, and major firms from key industries have signed a historic cooperation agreement to facilitate and accelerate adoption of digital technologies in trade and commerce. The global industry leaders participating in the agreement are APRIL, DBS Bank, Marubeni Corporation, Mastercard, Mitsubishi Corporation, Mitsui & Co., Ltd., Mizuho Bank, Ltd., MUFG Bank, Noble, NTT DATA, PSA International, Sompo Japan Nipponkoa, Standard Chartered Bank, Sumitomo Corporation, Sumitomo Mitsui Banking Corporation, Tokio Marine, and Trafigura.

This public-private partnership between global organisations will be a significant leap forward to shift international trade from a paper-based system to digitally-enabled trade. It will create enormous potential value based on time and operational cost savings combined with the greatly reduced incidence of fraud and human error.

“Digital platforms will lower existing barriers to international trade in the coming years and enable many more businesses to participate in the new global economy. In line with ICC’s 21st century purpose, we are committed to enabling the broadest possible adoption of these digital
technologies and support the development and recognition of universally accepted best practice
standards for digitalisation, based on global consensus and the work being done by our partners
today,”

said John W.H. Denton AO, ICC Secretary General.

As one of the largest global trading hubs, Singapore is capitalising on its strong networks to bring together an efficient and unified process of digitalised trade. The country is partnering various international organisations, governments and industry players on the development of TradeTrust – a multilateral, open legal and technical framework, that enables inter-operability across different trade platforms and formats for the exchange of digital trade documents on a public blockchain.

This strategic initiative is led by the Infocomm Media Development Authority (IMDA) with the Maritime Port Authority (MPA), and supported by partner agency, Enterprise Singapore. One of the first platforms built on the TradeTrust framework is ICC TradeFlow. ICC TradeFlow was co-developed by ICC together with trade tech firm, Perlin, in collaboration with IMDA,  commodities trader Trafigura, and DBS Bank. A landmark USD20M pilot trade was executed on ICC TradeFlow in November 2019, with an iron ore shipment from South Africa to China. To further support the industry-wide digitalisation, partners in this pilot trade are making further major trade volume commitments to be executed on this platform.

Total
0
Shares
Share
Tweet
Share
Share
Related Topics
  • Digital Economy
  • Digital Ecosystem
  • Global Corporations
  • Industry Leaders
  • Singapore
dotlah.com

Previous Article
  • Cities

One-Year Update On Orchard Road No Smoking Zone

  • January 23, 2020
View Post
Next Article
  • Environment
  • People
  • World Events

Should We Be Worried About The New Wuhan Coronavirus?

  • January 24, 2020
View Post
You May Also Like
View Post
  • Lah!

Tariffs, Trump, and Other Things That Start With T – They’re Not The Problem, It’s How We Use Them

  • John Francis
  • March 25, 2025
View Post
  • Lah!

Canonical announces 12 year Kubernetes LTS

  • John Francis
  • March 4, 2025
dotlah-smartnation-singapore-lawrence-wong
View Post
  • Artificial Intelligence
  • Featured
  • Features
  • Lah!
  • Machine Learning
  • Technology

Growth, community and trust the ‘building blocks’ as Singapore refreshes Smart Nation strategies: PM Wong

  • Dean Marc
  • October 9, 2024
dotlah-singapore-ndp-2024
View Post
  • Lah!

Here’s what to expect for NDP 2024!

  • dotlah.com
  • August 9, 2024
dotlah-singapore-airlines_may_21-1716298816
View Post
  • Lah!

Severe turbulence during Singapore Airlines flight leaves several people badly injured. One man died

  • majulah
  • May 22, 2024
dotlah-pm-lee-lawrence-wong-9656d4cd-1fa4-40ed-905d-e19e639b8476_728802dd
View Post
  • Lah!
  • People
  • Politics

End of Lee Era for Singapore as PM Steps Down

  • dotlah.com
  • May 16, 2024
DPM Lawrence Wong will be Singapore's fourth prime minister on May 15. ST PHOTO: LIM YAOHUI
View Post
  • Lah!
  • People
  • Politics

7 things to know about Singapore’s next prime minister Lawrence Wong

  • dotlah.com
  • May 15, 2024
When asked about his leadership style, DPM Lawrence Wong said he will be open and consultative, but he will not shirk from doing what is necessary for Singapore's future. ST PHOTO: LIM YAOHUI
View Post
  • Features
  • Lah!
  • People
  • Politics

‘We are prepared to relook everything’: Lawrence Wong on a changing society and his hopes for S’pore

  • dotlah.com
  • May 15, 2024


Trending
  • 1
    • Lah!
    ABB To Provide Charging Infrastructure For Public E-Buses In Singapore
    • August 13, 2019
  • 2
    • Lah!
    Strengthened Regulatory Framework To Promote Responsible Use Of Active Mobility Devices
    • February 6, 2020
  • NASA Launch 3
    • People
    • Technology
    Most Americans Support NASA – But Don’t Think It Should Prioritize Sending People To Space
    • August 6, 2023
  • 4
    • Cities
    Grab Singapore Announces Transport Sustainability Goal As Part Of Its GrabForGood Initiative; Aims For A Full Fleet Running On Cleaner Energy By 2030
    • July 8, 2021
  • 5
    • Technology
    DBS And GovTech To Pilot SingPass Face Verification Technology For Faster Digital Banking Sign-ups
    • July 31, 2020
  • 6
    • Lah!
    Asian Cities To Experience Hotter & Drier Climate — Yes, Including Singapore
    • August 18, 2019
  • 7
    • Science
    • Technology
    Is The Cold Fusion Egg About To Hatch?
    • August 20, 2019
  • 8
    • Lah!
    NTUC FairPrice Is Prepared And Ready To Meet Customers’ Daily Essential Needs
    • March 20, 2020
  • 9
    • Cities
    • Environment
    • People
    Is Your City Making You Fat? How Urban Planning Can Address The Obesity Epidemic
    • February 24, 2020
  • 10
    • Cities
    Clean & Green Singapore 2021 Brings Online Learning Experiences, Exhibitions And Virtual Tours Until March 2022
    • November 23, 2021
  • 11
    • Lah!
    Singapore’s GDP Grew By 0.1 Per Cent In The Third Quarter Of 2019
    • October 14, 2019
  • 12
    • Cities
    • Lah!
    How COVID-19 Has Impacted The Sustainability Outlook For Young Businesses
    • October 31, 2020
Trending
  • 1
    The Summer Adventures : Hiking and Nature Walks Essentials
    • June 3, 2025
  • 2
    Trump’s global trade plans are in disarray, after a US court ruling on ‘Liberation Day’ tariffs
    • May 29, 2025
  • 3
    315,000 Singaporeans have used new career and skills planning tool by SkillsFuture Singapore
    • May 23, 2025
  • college-of-cardinals-2025 4
    The Definitive Who’s Who of the 2025 Papal Conclave
    • May 8, 2025
  • conclave-poster-black-smoke 5
    The World Is Revalidating Itself
    • May 7, 2025
  • oracle-ibm 6
    IBM and Oracle Expand Partnership to Advance Agentic AI and Hybrid Cloud
    • May 6, 2025
  • 7
    Conclave: How A New Pope Is Chosen
    • April 25, 2025
  • 8
    Canonical Releases Ubuntu 25.04 Plucky Puffin
    • April 17, 2025
  • 9
    Mathematicians uncover the logic behind how people walk in crowds
    • April 3, 2025
  • 10
    Tokyo Electron and IBM Renew Collaboration for Advanced Semiconductor Technology
    • April 2, 2025
Social Links
dotlah! dotlah!
  • Cities
  • Technology
  • Business
  • Politics
  • Society
  • Science
  • About
Connecting Dots Across Asia's Tech and Urban Landscape

Input your search keywords and press Enter.