TradeWaltz signs MoU with GUUD Singapore following announcement of ASEAN-Japan Economic Co-Creation Vision
TradeWaltz Inc., an operator of the trade information collaboration platform “TradeWaltz™”, is pleased to announce that it has signed a Memorandum of Understanding (MoU) with GUUD in Singapore, the collaboration MoU with another country after Brunei and Thailand since the ASEAN-Japan Economic Co-Creation Vision announced on August 22, 2023, in which the concept of digitizing and connecting trade procedures between ASEAN and Japan on the blockchain is announced.
■ASEAN-Japan Economic Co-Creation Vision
In commemoration of the 50th anniversary of the friendship between ASEAN and Japan, the Economic Co-Creation Policy for the next 50 years was announced on August 22, 2023 during intergovernmental consultations to realize a safe, prosperous, and free economic society between ASEAN and Japan, based on trust.
Among the four policies to be covered, “Enhancing Cyber and Physical Connectivity” includes the concrete implementation of the Indo-Pacific Economic Framework (IPEF), elimination and digitization of trade procedures and DFFT (free and reliable data flow) to build a seamless logistics network, and the measure “Digitalization and Linkage of Trade Procedures in Commerce, Logistics, and Money Flow in ASEAN and Japan Using Blockchain Technology” is mentioned.
TradeWaltz is the only platform in Japan that digitizes trade procedures for commercial, logistics, and financial flows on the blockchain, and in line with this policy, we are collaborating with ASEAN countries to promote the digitization of trade between Japan and ASEAN.
■Singapore’s Trade Digitization Efforts and GUUD
Singapore aims to be a hub for trade and finance and has actively implemented measures to attract investment and foreign capital. This made Singapore as one of the hubs of information and finance in ASEAN. Trade digitalization was discussed as one of the important measures to promote the economic development of Singapore and Japan in the “Japan-Singapore Economic Dialogue”, where TradeWaltz spoke in February 2023.
Under such circumstances, we have been seeking through our APAC representative office, a way to link Japanese trade information digitized by TradeWaltz to the Singapore trade platform without having any analog procedures.
EXEO Global Pte Ltd, the Singapore arm of a Japanese conglomerate is the largest shareholder of GUUD Pte Ltd through capital participation. We believe that we chose the best partner for digital collaboration between Japan and Singapore and have decided to announce this collaboration.
■Signing MoU for corporation and the way forward
On September 21, 2023, TradeWaltz and GUUD signed a MoU to support the deployment of both platforms in Japan and Singapore and to collaborate on system integration between the two companies.
In addition to JETRO, The International Chamber of Commerce Digital Standards Initiative (ICC DSI), based in Singapore, was also present at the signing and provided comments.
We hope to confirm the system specifications of the two systems based on the business processes of Japanese and Singaporean users and proceed to define requirements for the system integration specifications.
Desmond Tay, CEO, GUUD Pte Ltd,
“TradeWaltz’s strategic partnership with GUUD not only accelerates the realization of the policy’s goals but also enhances the resilience and efficiency of supply chains across the entire spectrum of logistics, commerce, and financial operations.”
Satoru Someya, Executive Officer, COO, CMO, and Head of Global & Alliance Business Department TradeWaltz Inc.
“We are pleased to sign this MoU with GUUD of Singapore. The movement toward trade digitalization and collaboration with ASEAN countries has accelerated since the ASEAN-Japan Economic Co-Creation Vision was announced on August 22, furthermore, this MoU will enable us to take the next step forward with Singapore where we have been working together for a long time.”
Yuichi Yokoi, Senior Director for Regional Strategy (Asia Pacific), JETRO
“JETRO would like to congratulate TradeWaltz and GUUD of Singapore on the signing of the MoU. As JETRO served as the secretariat of the study committee to develop the ASEAN-Japan Economic Co-Creation Vision, we are very pleased to see the concrete collaboration soon after the publication. JETRO will continue to make further efforts to develop collaboration between ASEAN and Japan.“
■About TradeWaltz Inc.
Name: TradeWaltz Inc.
Representative: President & CEO Hirohisa Kojima
Office: KASUMIGASEKI BUILDING 36F WORKSTYLING, 3-2-5 Kasumigaseki,Chiyoda-ku, Tokyo 100-6036
Established: April 2020
Main Business: Provision of the SaaS of “TradeWaltz™,” *1 a trade-related information-sharing platform using blockchain
Number of Employees: 61 (full-time)
Shareholders: NTT DATA Corporation / Toyota Tsusho Corporation /
UTokyo Innovation Platform Co., Ltd. / Sumitomo Corporation /
Mitsubishi Corporation / TW Link Corporation /
Tokio Marine & Nichido Fire Insurance Co., Ltd. /
Toyoshima & Co., Ltd. / Kamigumi Co., Ltd. /
FUJITRANS CORPORATION / MITSUI-SOKO HOLDINGS Co., Ltd. /
NISSIN CORPORATION / MUFG Bank, Ltd. / Marubeni Corporation /
Mitsubishi Logistics Corporation / Sompo Japan Insurance Inc.
SDG initiatives: Our services mainly promote initiatives on themes 8, 9, 12, 13, 15, and 17.
*1 “TradeWaltz™” is a registered trademark of TradeWaltz Inc. in Japan. Other product names, company names, and organization names are the trademarks or registered trademarks of each company.
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