Cross-border specialists sign Tripartite Agreement to support digitalisation of trade
Three British Chamber of Commerce Singapore member companies have come together to sign a tripartite agreement to support the digitalisation of trade, supply chains and logistics.
LogChain (a cross-border data sharing and workflow platform), Hurricane Commerce (a cross-border data provider) and TMX Global (an end-to-end supply chain consultancy) have signed an agreement to jointly collaborate on a programme to build a plan of operations which aims to improve cross-border trade and digitalise supply chain and logistics industries.
The tripartite agreement between the three Chamber members seeks to build on, and champion, the UK-Singapore Digital Economy Agreement (UKSDEA) which was signed on February 25th 2022 and entered into force on June 14th 2022. Modules in the UKSDEA include digital trade facilitation, customer cooperation, cross-border data flows and paperless trading.
David Kelly, Executive Director at the British Chamber of Commerce Singapore, commented: “The digital economy is a huge area of interest for the British Chamber and our members as technology provides more opportunities for cross-border trade.
“With the UK-Singapore Digital Economy Agreement entering into force last year, it is therefore really pleasing to see three member companies of the Chamber driving forward to collaborate and build upon the agreement to support business.”
Andie McKeown, CEO of LogChain, added: “Digitalising trade documentation is a critical step that can avoid unnecessary costs, save time, and enable trade. It can also improve supply-chain resilience and help mitigate inevitable future disruptions as well as empower industry-wide standards for all.
“The road ahead will require an eco-system-driven mindset and we hope that this agreement today is a step in that journey, building upon the great work between the UK and Singapore governments and the super-connector that is the British Chamber of Commerce Singapore.”
Martyn Noble, CEO of Hurricane Commerce, said: “We are delighted to be a part of this important tripartite agreement which promotes digitalisation across the supply chain. Successful and compliant cross-border trade depends upon the completeness and accuracy of shipment data and Hurricane’s global footprint of customers has made it the world leader in this space.”
Rod Talbot, Hurricane’s Director – Asia Pacific, commented: “The tripartite agreement demonstrates the importance of partnerships, bringing together the cross-border expertise of our three companies, supported by the British Chamber of Commerce’s Singapore team and fully aligned with the UK-Singapore Digital Economy Agreement (UKSDEA).”
Carl Hemus, Chief Operating Officer APAC at TMX Global said: “TMX sees this agreement as a great step in its continued journey of providing practical technology solutions to its customers and its support of companies in their desire to digitalise. In working alongside LogChain and Hurricane and with the support of the British Chamber, we are excited to see what the future holds.”