ASEAN-China supply chain initiative to boost cross-border e-commerce deliveries

Source: Y3 Technologies. From left: Lim Fung Leng, Manager, IMDA; Beryl Choo, Sales Director, veriTAG; Jeffrey Tan, Head of Strategic Business Development, Y3 Technologies; Leonard Lew, Assistant Director, IMDA; Moshe David, CEO, BRANDAVID; Jason Lim, CEO, veriTAG; Tan Sock Joo, Divisional Director, IE Singapore; Frank Zhang Ming, MD, Musang Durians Frozen Food; Marc Dragon, CEO, Y3 Technologies; C S Lau, Marketing Director, Federal Packaging Industries; Liu Weixiong, CEO, Digitnexus; Douglas Chew, COO, Century Stage; Belinda Lee, Vice Chairman, Seafood Industries Association Singapore; and Sam Li, Director, Digitnexus.

Y3 Technologies, Singapore’s supply chain and omnichannel solutions provider, has signed a memorandum of understanding (MoU) with Aerospace Digitnexus Information Technology Shenzhen, a subsidiary of China Aerospace International Holdings, and veriTAG, a Singapore tagging solutions provider to advance the developments in One Belt and One Road (OBOR, 一带一路) cross-border e-commerce by establishing an ASEAN-China supply chain system to fulfil cross-border e-commerce deliveries.

The tripartite agreement, which was witnessed by representatives from the Info-communications Media Development Authority (IMDA) and International Enterprise (IE) Singapore, will see the three entities consolidate their expertise and resources to create an exclusive channel and single platform that will make it easier to comply with regulatory, customs and compliance requirements in relation to cross-border supply chain and logistics.

Under the agreement, the organisations will work towards:

- An OBOR cross-border e-commerce logistics platform with cargo tracking and big data analytics capabilities

- Transforming Southern China ports into the best clearance points for ASEAN companies as an entry for export into Southern China

- Providing Singapore Authorised Economic Operator (AEO) partners with an exclusive ‘green lane’ channel for fast and secure trade lanes

- Collaborating in big data analytics, product traceability, tracking, forgery prevention and authenticity

- Exploring the potential of using Blockchain and related technologies to provide trade finance and supply chain finance related services

“We are looking forward to this new strategic partnership with Aerospace Digitnexus Information Technology (Shenzhen) and veriTAG to establish an exclusive channel for Singapore and possibly even ASEAN products to be exported to China through a single platform. The success of this tripartite agreement will result in manufacturers no longer having to deal with the complexities when exporting their products to China. We remain committed to providing our technological expertise to smoothen cross-border transactions and increase trade financing possibilities associated with the Belt and Road Initiative (BRI)*,” said Marc Dragon, CEO of Y3 Technologies.

Liu Weixiong, CEO of Digitnexus said the agreement will further strengthen Shenzhen's position as one of the leading global logistics hubs in Asia. "We are confident that our expertise in the Internet of Things (IoT) as well as our specialisation in intelligent warehouse automation technologies and port/customs operations will play an integral role in creating seamless end-to-end cross-border e-commerce flows between Southern China and Singapore,” he said.

Jason Lim, CEO of veriTAG said the company's cloud-tagging solutions are secure and safe for exports and imports. The company produces smart tags that can be attached to products to capture information about who, what, where, when and how services are needed. As the information is stored in the cloud, information from veriTAG's tags can be accessed anywhere and at any time.

“The BRI offers a golden opportunity for companies in China and ASEAN to cultivate international cooperation and shared economic advancement," he said.

*BRI is another name for OBOR.