Malaysia’s digital services company MY E.G. Services Bhd (MYEG) announced on Friday an exclusive collaboration with East Logistics Link Co., Ltd., a wholly-owned agency of the General Administration of Customs of the People’s Republic of China (GACC), to develop and operate a so-called National Single Window (NSW) platform for ASEAN countries, including Malaysia.
MYEG and East Logistics signed a Supplementary Heads of Agreement on Sept 4, 2024, paving the way for both parties to co-operate in securing and implementing of a national single window to facilitate cross-border trade in the region, MYEG announced in a statement.
The collaboration will leverage on the respective strengths of both parties, namely MYEG’s track record as a leading e-government services provider and Web 3 pioneer and East Logistic’s experience in the research and development of China’s international trade “single window” standard application, participating in the construction, operation and
maintenance service for cross-border trade e-commerce and other information systems.
This latest joint initiative marks a further deepening of ties between MYEG and East Logistics, with the two entities having been working closely on the establishment of ZTrade, a first-of-its-kind Web 3 service that provides verification and exchange of digitized trade documents on the Zetrix blockchain platform, a truly two-way cross-border facilitation service for trades with China, MYEG said.
Through ZTrade’s live connectivity to GACC’s single window platform, critical trade-related documents can be submitted digitally through the platform, enabling users to enjoy expedited trade processing and clearance.
These documents include Certificates of Origin (COO) issued by the Ministry of Investment, Trade and Industry of Malaysia and Phytosanitary Certificate and other product certificates issued by the Ministry of Agriculture and Food Security of Malaysia on the Malaysia side, as well as Certificates of Origin issued by GACC on the China side.
These COOs are issued in the form of Verified Credentials on the Zetrix Layer-1 blockchain.
In further advancing the adoption of Web 3 technology in Malaysia and across the ASEAN region, the NSW project on which MYEG and East Logistics are jointly working is also envisioned to be developed on the Zetrix blockchain.