TradeWaltz and U.S.-based Trade Tech Sign MoU ~ Aiming to Digitize and Streamline Trade Procedures for AEO Operators Between Japan and the U.S. ~

TradeWaltz inc. (Headquarters: Minato-ku, Tokyo; President & CEO: Takahiro Sato; hereinafter referred to as TradeWaltz) has announced that it has signed a Memorandum of Understanding (MoU) with Trade Tech (Headquarters: Seattle, Washington, USA; President: Bryn E. Heimbeck; hereinafter referred to as Trade Tech) to promote the “GRACE (Global Reliable Authorized Commerce Express)” project*1, aimed at digitizing and streamlining trade procedures for Authorized Economic Operators (AEOs) between Japan and the U.S.

■Platform Collaboration Between Japan and the U.S.
　The Authorized Economic Operator (AEO) system certifies trade operators who meet certain security and compliance standards, granting them benefits such as simplified and expedited Customs procedures. Currently, Japan and the U.S. have signed a Mutual Recognition Arrangement (MRA) for the AEO system, advancing trade facilitation between the two countries based on mutual trust.

　The MoU confirms the commencement of discussions on the mutual integration of the trade platforms provided by TradeWaltz and Trade Tech. Through the collaboration of both platforms, a system will be developed to fully leverage the benefits of the AEO mutual recognition, enabling the immediate and seamless sharing of trade-related document data required between exporters and importers between Japan and the U.S.

　Furthermore, it aims to enable customs brokers in both countries to utilize this data to submit customs declarations to the relevant customs authorities, thereby significantly reducing inefficient processes such as the exchange of paper documents and manual data entry, facilitating the customs clearance of cargo shipments well in advance of vessel arrival. Specifically, for AEO operators under the AEO Mutual Recognition Arrangement (MRA)*2, this will result in reduced customs processing times and enable the customs clearance of cargo shipments even more smoothly in advance of vessel arrival. As a result, it will contribute to shorter cargo lead times, optimized logistics costs, and overall supply chain efficiency.

Both TradeWaltz and Trade Tech will continue to promote the digitalization of trade and international data collaboration in a manner that ensures security and reliability, contributing to the strengthening of global supply chains.

*1 [GRACE] is a project proposed by Mr. Takaaki Kanrei of Toyota Tsusho Corporation.
*2 It is a framework in which customs authorities of different countries trust each other’s AEO systems and mutually apply simplified customs procedures and preferential treatments to certified operators. Japan has signed Mutual Recognition Arrangements (MRAs) with 14 countries, including the U.S., the UK, the EU, Australia, China, Singapore, and Thailand.

■Comments from Stakeholders
Takahiro Sato, President & CEO, TradeWaltz Inc.
Through this initiative, we aim to expand the adoption of the AEO system by helping more companies realize its convenience and value. At the same time, we will accelerate the digitalization and efficiency of trade procedures between Japan and the U.S., contributing to the optimization of international logistics.

Bryn E. Heimbeck, President, Trade Tech
The combination of regulatory compliance tied to transportation, logistics, and supply chain management creates a significant drive to digitization of the global supply chain.  Effectively, this will create a Pan-Japan / USA data standard for global supply chain management. AEO Operators, as mutual trading partners on both sides of the ocean, will be able to closely collaborate in the movement of goods.  We are excited to be partnered on this important initiative.

■About TradeWaltz (https://www.tradewaltz.com/en/)
TradeWaltz Inc. offers “TradeWaltz™”, a SaaS-based collaborative trade facilitation platform that streamlines the one-stop management of global trade information.
18 major trade practitioners formed a Trade Consortium, and after four years of activities—including system development, technical proof of concept (POC), legal reform advocacy, and business incubation—“TradeWaltz™” was finally commercialized.

The business is operated by the investment of the following 18 leading Japanese companies.
NTT DATA Corporation
Toyota Tsusho Corporation
UTokyo Innovation Platform Co., Ltd.
Sumitomo Corporation
Mitsubishi Corporation
TW Link Corporation (Joint Venture of Kanematsu Corporation)
Tokio Marine & Nichido Fire Insurance Co., Ltd.
Sumitomo Mitsui Banking Corporation
Toyoshima & Co., Ltd.
Kamigumi Co., Ltd.
FUJITRANS CORPORATION
Mitsui-Soko Holdings Co., Ltd.
Nissin Corporation
MUFG Bank, Ltd.
Marubeni Corporation
Mitsubishi Logistics Corporation
Mizuho Bank, Ltd.
Sompo Japan Insurance Inc.