A new platform for freight forwarder communities aims to facilitate connectivity and trade in the ASEAN region.
Called hive, which stands for ‘highly interconnected and vibrant e-trade,’ the new platform is powered by Global eTrade Services, a subsidiary of CrimsonLogic, and makes trade easier, more accessible and more predictable by enabling businesses to meet trade compliance requirements for customs authorities worldwide. The initiative is a collaboration of logistics and forwarder associations championed by the ASEAN Federation of Forwarders Associations, and includes members such as the Federation of Malaysian Freight Forwarders, the Federation of Forwarders Associations in the Philippines, the Vietnam Logistics Business Association and the Myanmar International Freight Forwarders’ Association.
hive has also signed a memorandum of understanding with the Taiwan Freight Logistics Association, expanding the platform beyond ASEAN.
“ASEAN is celebrating its 50th anniversary this year and continuing to deepen ties and trade among its members, as well as across the region,” said Eugene Wong, chairman of CrimsonLogic and GeTS. “What started off as US$10 billion in trade when ASEAN started out in 1967, has grown to US$2.219 trillion last year. Strengthening logistics infrastructure will be the key to further growth across the region in the future. With hive, we will drive greater collaboration, enabling businesses to achieve greater efficiency, productivity and growth.”
Chong Kok Keong, CEO of GeTS and assistant CEO of CrimsonLogic, said that Asia accounts for a significant percentage of global trade and collectively, ASEAN is the world’s third-largest market.
“In the last year alone, GeTS has already connected more than 163,000 parties to each other, conducted more than 900,000 trade transactions and moved more than 71.5 million tonnes of cargo across borders,” he said. “Now, we want to bring the power of GeTS to hive members. We want to change the way trade compliance is done; making cross-border trade easier, more accessible and predictable.”
hive members will be able to search for and create connections with new partners, start regulatory submissions via the web, fax, email or electronic integration with 24x7 support, and access a centralized global trade platform that facilitates cross-border trade with end-to-end compliance connectivity. Associations or industry bodies also have the option to add a module enabling them to manage their own portals and members.
“We are looking forward to our partnership with Global eTrade Services,” said Alvin Chua, president of the Federation of Malaysian Freight Forwarders. “This initiative is just the beginning in improving logistics opportunities across Asia and the world for our members. Through hive services, our members can look forward to greater collaboration across Asia, changing the way trade is conducted.”