News

Information Technology

Staff Reporter

, Singapore

Published:

1 year ago

133 views

(Front row, from the left) Co-Founder of Zetrix, Dato’ Fadzli Shah; and Chairman of SGTraDex, Tan Chin Hwee, at the ASEAN-GCC-China CEO Roundtable during the MoU signing ceremony between MYEG and SGTraDex, witnessed by (back row, from the left) Chairman of ASEAN-BAC Malaysia, Tan Sri Nazir Razak; Deputy Minister of Ministry of Investment, Trade and Industry (MITI) Malaysia, YB Liew Chin Tong; and ASEAN-BAC Singapore Council Member and Managing Director of Eng and Co. LLC, Rachel Eng.

SGTraDex, Malaysia's MYEG ink deal to boost digital trade connectivity

The collaboration aims to drive the shift from paper-based to digital trade using verifiable electronic records.

Singapore Trade Data Exchange Services Pte. Ltd. (SGTraDex) has signed a memorandum of understanding (MoU) with MY E.G. Services Berhad (MYEG) to facilitate seamless, digital cross-border trade between Malaysia and Singapore.

Under the terms of the agreement, SGTraDex and MYEG’s Zetrix will explore the technical integration of their respective platforms to enable a secure and interoperable channel for the exchange of trade-related data.

The collaboration aims to catalyse the transition from paper-based to digital trade flows, including the use of verifiable electronic records.

Furthermore, the partnership supports the ASEAN Digital Economy Framework Agreement and complements broader efforts to enable mutual recognition of digital ID, electronic trade documents, and regulatory credentials across borders.

With blockchain technologies such as MYEG’s Zetrix Layer-1 chain and frameworks like TradeTrust on SGTraDex, immutability and traceability of verified information exchanged between governments and enterprises are ensured, fostering greater transparency and security in cross-border transactions.

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