KUALA LUMPUR: Dagang NeXchange Bhd’s (DNeX) wholly-owned subsidiary Dagang Net Technologies Sdn Bhd (DNT), signed a memorandum of understanding (MoU) with Korea Trade Network (KTN) to develop services for the trade facilitation industry in the local and regional markets.
Under the agreement, both companies will deploy home-grown technologies from Dagang Net and global capabilities from KTN in key areas such as port community systems, electronic customs and information technology (IT) consultancy services.
The partnership will involve the integration of technologies and capabilities of both parties in the areas of integrated risk management system, customs cargo management and clearance system, port community system, customs processing and analytics/big data, artificial intelligence and machine
learning, robotic process automation, blockchain and consultancy services.
Moreover, the partnership can bring together the expertise of both parties to benefit their customers, specifically in digital and technology transformation of trade facilitation.
The MoU was formalised in Cyberjaya, where Dagang Net’s chief executive officer Wan Ahmad Syatibi Wan Abd Manan signed on behalf of the company, and KTN was represented by its chief executive officer Young-Hwan Cha.
DNeX executive chairman Tan Sri Syed Zainal Abidin Syed Mohamed Tahir, group chief operating officer Azhar Othman, Dagang Net chief technology officer Jasbendarjit Kaur, and KTN director Sung-Heun Ha were also present at the event.
According to Syed Zainal, the partnership aims to jointly develop trade facilitation services with enhanced features, leveraging both parties’ technologies and capabilities to improve the overall efficiency and productivity of the trade ecosystem.
“This partnership allows us to work with KTN to expedite the transformation of the trade ecosystem, capitalising on our capabilities, breadth, and depth of offerings and technologies backed by our proven track records,” he said in a statement.
“We need to continue embedding innovation in our services and product offerings, and our partnership with KTN is one such way towards this end,” he added.
Since its establishment in 1989, Dagang Net has pioneered initiatives to create and integrate paperless, electronic customs-related services to facilitate and streamline international trading processes for import and export.
Dagang Net has also been the operator of the National Single Window (NSW) for trade facilitation for Malaysia since 2009, where the system facilitates electronic customs-related transactions and duty payments and electronic document transfer between members of its trading community.
KTN is Korea’s national paperless trade infrastructure operator. In collaboration with the Korean government, it implements and operates the uTradeHub platform for all businesses in international trade.
Leveraging the experience, KTN has successfully implemented e-customs systems in other countries.
