CrimsonLogic, a leader in digital trade facilitation solutions and a member of the PSA Group, announced that it has entered into a strategic collaboration with Shanghai Data Group to improve cross-border trade efficiency. Shanghai Data Group is a Chinese enterprise which manages Shanghai’s public and state-owned enterprise data.

The Letter of Intent was inked at the Singapore-Shanghai Comprehensive Cooperation Council Meeting held on 24 April in Singapore. The meeting was organised by Enterprise Singapore and co-chaired by Shanghai Mayor Gong Zheng and Singapore’s Minister of Culture, Community and Youth and Second Minister of Law Edwin Tong.

This partnership will also aid the internationalisation of Chinese enterprises by connecting them to more than 60 customs nodes globally via CALISTA, a global supply chain platform developed by CrimsonLogic and PSA. CALISTA streamlines trade compliance and supply chain processes by optimising data reuse and improving connectivity across customs nodes.

In addition, the two companies will explore using Blockchain, Artificial Intelligence, Cloud Computing, and other technologies to establish a safe and efficient trade data protection and regulatory framework. CrimsonLogic and Shanghai Data Group will also survey opportunities to expand their footprints in China and Singapore respectively to provide even greater value to the industry and their customers.

Image courtesy of Enterprise Singapore

For more information, please click HERE for the press release.