LogChain (a cross-border data sharing and workflow platform), Hurricane Commerce (a cross-border data provider) and TMX Global (an end-to-end supply chain consultancy) have signed an agreement to collaborate on a program to build a plan of operations to improve cross-border trade and digitalize supply chain and logistics industries.
The tripartite agreement between the three British Chamber of Commerce Singapore member companies seeks to build on, and champion, the UK-Singapore Digital Economy Agreement (UKSDEA), which was signed on February 25, 2022 and entered into force on June 14, 2022. Modules in the UKSDEA include digital trade facilitation, customer cooperation, cross-border data flows and paperless trading.
David Kelly, executive director at the British Chamber of Commerce Singapore, commented, “The digital economy is a huge area of interest for the British Chamber and our members, as technology provides more opportunities for cross-border trade.
“With the UK-Singapore Digital Economy Agreement entering into force last year, it is therefore really pleasing to see three member companies of the Chamber driving forward to collaborate and build upon the agreement to support business.”
Andie McKeown, CEO of LogChain, added, “Digitalizing trade documentation is a critical step that can avoid unnecessary costs, save time and enable trade. It can also improve supply chain resilience and help mitigate inevitable future disruptions as well as empower industry-wide standards for all.
“The road ahead will require an ecosystem-driven mindset and we hope that this agreement today is a step in that journey, building upon the great work between the UK and Singapore governments and the super-connector that is the British Chamber of Commerce Singapore.”
Rod Talbot, Hurricane’s director – Asia Pacific, commented, “The tripartite agreement demonstrates the importance of partnerships, bringing together the cross-border expertise of our three companies, supported by the British Chamber of Commerce’s Singapore team and fully aligned with the UK-Singapore Digital Economy Agreement (UKSDEA).”
Carl Hemus, chief operating officer APAC at TMX Global, said, “TMX sees this agreement as a great step in its continued journey of providing practical technology solutions to its customers and its support of companies in their desire to digitalize. In working alongside LogChain and Hurricane and with the support of the British Chamber, we are excited to see what the future holds.”
