CrimsonLogic, a Singapore-based company in digital trade facilitation solutions and part of the PSA Group, entered into a strategic collaboration with Shanghai Data Group, a Chinese enterprise which manages Shanghai’s public and state-owned enterprise data.
This collaboration will see CrimsonLogic work together with Shanghai Data Group to improve cross-border trade efficiency.
The Letter of Intent was inked at the Singapore-Shanghai Comprehensive Cooperation Council (SSCCC). The meeting was held in Singapore, organised by Enterprise Singapore and co-chaired by Shanghai Mayor Gong Zheng and the Minister of Culture, Community and Youth of Singapore and Second Minister of Law Edwin Tong.
According to CrimsonLogic, this partnership will aid the internationalisation of Chinese enterprises by connecting them to more than 60 Customs nodes globally via CrimsonLogic’s CALISTA platform, which streamlines trade compliance and supply chain processes by optimiSing data reuse and improving connectivity across Customs nodes.
Additionally, the two companies will also use blockchain, artificial intelligence, cloud computing and other technologies to establish a safe and efficient trade data protection and regulatory framework.
Lawrence Ng, CEO of CrimsonLogic, commented, “We envision an integrated global trade ecosystem which connects government and business stakeholders digitally to optimize and streamline supply chains, bringing our ‘Total Trade’ vision to life. With the right platform and solutions to improve levels of control, connectivity and competitiveness in global trade, we believe this partnership is truly a leap in the right direction for CrimsonLogic and Shanghai Data Group.”
