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Digitalisation can ease challenges in cross border trade during Covid-19 outbreak

Digitalisation can ease challenges in cross border trade during Covid-19 outbreak

Cyberjaya, 9 March 2020 -The Covid-19 outbreak can adversely affect global trade in the near term as well as disrupt supply chains and businesses’ earnings.

Businesses in trade, logistics and supply chain are able to respond swiftly and mitigate cross border trade barriers resulting from increased mobility restrictions and social distancing, by increasing reliance on digitalisation in cross border trade processes.

According to Ms Chong Yoke Ching, Chief Executive Officer of SealNet Sdn Bhd, such digital solutions include e-commerce platforms that leverage on big data, and cloud computing technologies to power a smart logistics system.

Digitalised logistics and trade facilitation ecosystem for cross border trade allows for seamless integrated ecosystem where logistics service providers and their customers converge to transact, communicate and exchange information, she said.

“Such a system typically works with a centralised database and repository for information storing and sharing among stakeholders in the trade value chain,” said Chong, adding that there should also be a balance between security and efficiency in cross border processes.

By digitalising logistics and trade facilitation ecosystem, Business-to-Government and Business-to-Business communities across borders can be seamlessly connected, she said.

“Businesses should explore opportunities to implement such ecosystem, move their business to cloud system by working remotely, video conferencing, online training and related means to help the industry connect even in this current challenging time,” Chong added.

SealNet, a subsidiary of Dagang Nexchange Berhad (“DNeX”), offers a web-based one-stop system that is designed to ease cargo and trade management processes, connecting exporters and importers with all relevant parties, such as freight forwarders and Customs, and enabling the exchange of trade data digitally.

With simple user interface, the system covers key parts of trade facilitation value chain from the initial stages of importers and exporters invoicing and packing list, through the forwarding and transport journey, regulatory and authority clearance and approvals right up to the point of delivery.

To view Ms Chong Yoke Ching’s profile, click here.

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