MYEG and GACC-Owned East Logistics to Exclusively Collaborate on Establishment of National Single Window Trade Platform for ASEAN Countries
Petaling Jaya, 6 September 2024 – Malaysia’s premier digital services company MYE.G. Services Berhad (“MYEG”) announced today an exclusive collaboration with East Logistics Link Co., Ltd. (“East Logistics”), a wholly-owned agency of the General Administration of Customs of the People’s Republic of China (“GACC”), to develop and operate a National Single Window (“NSW”) platform for ASEAN countries, including Malaysia.
MYEG and East Logistics signed a Supplementary Heads of Agreement on 4 September 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.
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 digitised trade documents on the Zetrix blockchain platform, a truly two-way cross-border facilitation service for trades with China.
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 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.
About Zetrix
Zetrix is a layer-1 public blockchain that facilitates smart contracts and delivers privacy, security and scalability. Zetrix’s cryptographic infrastructure can be introduced to multiple industries to connect governments, businesses and their citizens to a global blockchain-based economy. Developed by MY E.G. Services Bhd, the cross-border and cross-chain integration with China enables Zetrix to serve as a blockchain gateway that facilitates global trade by deploying critical building blocks for Web3 services such as Blockchain-based Identifiers (BID) and Verifiable Credentials (VC).
About MY E.G. Services Berhad (“MYEG”)
MYEG is Malaysia’s premier digital services company. Having commenced operations in 2000 as the flagship e-government services provider, MYEG continues to play a leading role in driving technological change in the region, bringing a diverse and complete range of innovations spanning the online delivery of major government services to a variety of commercial offerings in the areas of immigration, automotive and financial services, among others. Committed to staying firmly at the forefront of the global digital revolution, MYEG has embraced the potential of blockchain technology to enhance all aspects of life and is actively pioneering its adoption across the region through its Layer 1 platform Zetrix. Besides its home market, MYEG’s presence spans other key regional markets such as China, Philippines and Hong Kong
