MY E.G. Services Berhad (MYEG) and Singapore Trade Data Exchange Services (SGTraDex) have formed a strategic cooperation to boost cross-border digital trade. This collaboration focuses on developing interoperable digital systems that allow for the easy, secure, and paperless interchange of trade-related information between the two countries.
The partnership’s goal is to align digital infrastructures to facilitate easier economic flows and increase regional connectivity. The project thus adds to the larger goals of the ASEAN Digital Economy Framework Agreement (DEFA), which promotes mutual recognition of digital identities, electronic trade documents, and regulatory credentials.
The technical integration of MYEG’s Zetrix blockchain platform with SGTraDex’s digital ecosystem is key to this collaboration. This connection will ensure the secure and verifiable sharing of trade data, benefiting both governments and private businesses. The adoption of blockchain technology improves transparency and reduces reliance on old paper methods.
The program also aims to expand its reach beyond ASEAN by exploring connectivity with China and Gulf Cooperation Council (GCC) countries. MYEG and SGTraDex will also collaborate to develop new business models, regulatory innovation, and sandbox testing to foster future growth in digital trade.
This collaboration is a crucial step towards establishing a unified digital trading environment in Asia and beyond.
