GeTS powers debut of global trade platform
Global eTrade Services (GeTS) has launched the world’s first trade platform to accelerate cross border trade across the globe dubbed Single Window, aimed at powering trade connectivity and the efficient fulfilment of trade compliance requirements.
“CrimsonLogic built TradeNet, the world’s first Single Window system for Singapore in 1989. Since then, we have continued to innovate and develop other similar trade systems,” said Eugene Wong, chairman of CrimsonLogic and GeTS.
“With GeTS, we will now be able to bring world-class quality, innovation and efficiency that can help local businesses grow globally,” said Wong.
GeTS will enable businesses and governments to simplify processes and accelerate cross border connectivity, saving them as much as 15% of the value of traded goods.
The savings would bring the much needed value to businesses as organizations like Organization for Economic Cooperation and Development (OECD) estimates that for every 1% reduction in global trade costs, global income could go up by $40 billion.
As global trade continues to grow across ASEAN and other regions, trade communities and businesses are acknowledging that there is a need for a platform that can accelerate the movement of goods across different borders.
The partnership with Singapore Logistics Association (SLA) builds on this promise of better growth opportunities through trade across the region. The community of ASEAN freight forwarders will be able to access a comprehensive suite of services that will enable them to consolidate import and export, regulatory and compliance fulfilment activities for various countries on a single platform
GeTS’ comprehensive suite of services helps global as well as ASEAN freight forwarders to meet regulatory and compliance requirements from government agencies and trade associations.