KUALA LUMPUR: Dagang NeXchange Bhd (DNeX) has signed a memorandum of understanding (MoU) with Asia-Pacific Model E-Port Network (APMEN) Operational Center to work together towards more efficient cross border trade between Malaysia and China.
Under the MoU, DNeX and APMEN Operational Center will seek to energise trade between the two countries through the adoption of a comprehensive and innovative cooperation programme.
The scope of cooperation will include support for small and medium enterprises (SMEs) in Malaysia to export to China market and helping them reduce trade costs through such initiatives as synergising APMEN Operational Center’s free trade agreement (FTA) application system and DNeX’s 1Trade, a Web-based one-stop portal for total cargo and trade management services.
This project is expected to be implemented by end of the year.
Targeted at businesses in the trade facilitation and logistics sector, primarily exporters and importers and logistics service providers, 1Trade by DNeX converges supply chain and cross border logistics processes to simplify cargo and trade management processes.
The cooperation will also include a pilot project on the implementation of Electronic Certificate of Origin interchange between Malaysia and China.
APMEN and its Operational Center were endorsed at the 22nd Asia Pacific Economic Cooperation (APEC) Economic Leaders’ meeting held in Beijing, China in 2014 under the purview of the APEC Committee on Trade and Investment.
APMEN is aimed to enhance regional Trade Facilitation and supply chain connectivity while its Operational Center serves the role as an open, inter-economy facilitation and service body for development and operation of APMEN.
At the signing held in Shanghai, DNeX was represented by its executive director Datuk Patrick Wong while APMEN was represented by APMEN Operational Center managing director Huang Feng.
“We are pleased to be working with APMEN Operational Centre to facilitate more efficient cross border trade between our country and China, which is a key trading partner to Malaysia.
“The cooperation will also focus on helping our SMEs make further inroads in China market through reducing trade costs. Through this, we aim to help SMEs, an increasingly important segment of the economy, reduce cost, and improve efficiency, productivity, and ultimately business earnings,” said Wong.
As the leading provider of e-Services for Trade Facilitation in both business-to-government (B2G) and business-to-business (B2B) segments, DNeX hopes to expand its presence in the region through this partnership, he said.