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MY E.G. Services Berhad and East Logistic-Link to Provide Cross-Border Trade Facilitation Services on Blockchain Platform

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It is reported that MY E.G. Services Berhad (\”MYEG\”) has signed a cooperation agreement with East Logistic-Link Co. Ltd., a wholly-owned institution of the General Administration o

MY E.G. Services Berhad and East Logistic-Link to Provide Cross-Border Trade Facilitation Services on Blockchain Platform

It is reported that MY E.G. Services Berhad (“MYEG”) has signed a cooperation agreement with East Logistic-Link Co. Ltd., a wholly-owned institution of the General Administration of Customs of the People’s Republic of China (“GACC”), to jointly provide comprehensive cross-border trade facilitation services on the Zetrix blockchain platform. MYEG will provide this series of digital services through its blockchain platform, Zetrix, to achieve interconnection with domestic blockchain platforms.

MYEG signs an agreement with Chinese customs authorities to achieve cross-border trade connectivity on the Zetrix blockchain platform

As businesses continue to expand beyond borders, trade facilitation services play a vital role in ensuring smooth transactions across different countries. With the rise of blockchain technology, these services have become more efficient and secure, leading to faster and cost-effective cross-border transactions. In this article, we will discuss the cooperation agreement signed between MY E.G. Services Berhad and East Logistic-Link Co. Ltd. to provide comprehensive cross-border trade facilitation services on Zetrix blockchain platform.

Overview of MY E.G. Services Berhad and East Logistic-Link

MY E.G. Services Berhad (MYEG) is a Malaysian firm that operates the country’s leading e-government service provider. It offers a range of digital services, including vehicle ownership transfers, renewal of road tax, and payment of traffic summonses, among others.
East Logistic-Link Co. Ltd., on the other hand, is a wholly-owned institution of the General Administration of Customs of the People’s Republic of China (GACC). It offers trade facilitation services, including customs clearance, logistics, and supply chain management.

Cooperation Agreement to Provide Cross-border Trade Facilitation Services

As part of the agreement, MYEG will provide digital services through its blockchain platform, Zetrix, to achieve interconnection with domestic blockchain platforms in China. The platform will facilitate cross-border trade by streamlining customs clearance processes, improving logistics, and ensuring secure and transparent transactions.
Zetrix blockchain platform is highly secure, transparent, and efficient, making it an ideal solution for cross-border trade. It provides a single platform for all trade-related processes, allowing businesses to manage their operations seamlessly from different countries. Moreover, the platform is user-friendly, making it easy for businesses to adapt and integrate into their current systems.

Benefits of Cross-border Trade Facilitation Services on Zetrix Blockchain Platform

The cross-border trade facilitation services on Zetrix blockchain platform offer numerous benefits to businesses, including:

Increased Efficiency

The platform automates most of the trade-related processes, reducing the time and resources required for manual procedures. This results in faster and more efficient cross-border transactions.

Enhanced Security

The platform’s highly secure and transparent nature ensures that all transactions are secure and tamper-proof. It eliminates the risk of fraud and ensures that all parties have access to the same information.

Lower Costs

By eliminating the need for intermediaries, the platform reduces the transaction costs associated with cross-border trade. This makes it cost-effective for businesses, especially small and medium-sized enterprises.

Improved Transparency

The platform’s transparency ensures that all parties have access to the same information, reducing the risks of disputes and misunderstandings. It also allows for better tracking of goods and funds, enhancing supply chain management.

Conclusion

The cooperation agreement signed between MY E.G. Services Berhad and East Logistic-Link Co. Ltd. is a significant step towards providing efficient and secure cross-border trade facilitation services. The Zetrix blockchain platform’s adoption for these services will improve customs clearance processes, logistics, and supply chain management. As blockchain technology continues to evolve, it will play an increasingly crucial role in facilitating cross-border trade.
FAQs:
Q: What is Zetrix blockchain platform?
A: Zetrix blockchain platform is a highly secure, transparent, and efficient blockchain platform that provides a single platform for all trade-related processes.
Q: What are the benefits of cross-border trade facilitation services on Zetrix blockchain platform?
A: Cross-border trade facilitation services on Zetrix blockchain platform offer increased efficiency, enhanced security, lower costs, and improved transparency, making it an ideal solution for cross-border trade.
Q: Who are MY E.G. Services Berhad and East Logistic-Link Co. Ltd.?
A: MY E.G. Services Berhad is a Malaysian firm that operates the country’s leading e-government service provider, while East Logistic-Link Co. Ltd. is a wholly-owned institution of the General Administration of Customs of the People’s Republic of China (GACC) offering trade facilitation services, including customs clearance, logistics, and supply chain management.

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