“The launch of SmartFTAX is a follow through from a memorandum of understanding (“MoU”) agreement signed in March this year between DNeX with APMEN Operation Centre to work towards more efficient cross border trade between ASEAN and China.
Kuala Lumpur, 9 September 2018 – Dagang NeXchange Berhad (“DNeX”) and Asia-Pacific Model E-Port Network (“APMEN”) have jointly launched SmartFTAX, a one-stop Free Trade Agreement (“FTA”) service.
The service is aimed to help businesses benefit from FTA preferential tariffs in a more efficient way by enabling them check the rules of origins, document requirements, preferential FTA tariffs, and calculate tariff savings.
Targeted at exporters and importers, the service is expected to be available by year end and through a monthly subscription.
The launch of SmartFTAX is a follow through from a memorandum of understanding (“MoU”) agreement signed in March this year between DNeX with APMEN Operation Centre to work towards more efficient cross border trade between ASEAN and China.
Under the MoU, DNeX and APMEN Operational Centre will seek to energise trade between these countries through the adoption of a comprehensive and innovative cooperation programme.
The scope of cooperation includes support for small and medium enterprises (“SMEs”) in ASEAN to export to China market and helping them reduce trade costs through such initiatives as synergising APMEN Operational Center’s FTA application system and South East Asia Logistics Network (“SEALNET”), a Web-based one-stop portal for total cargo and trade management services from DNeX.
SmartFTAX was launched earlier today in conjunction with the opening of the 4th APEC Public-Private Dialogue on Advancing Trade Facilitation and Supply Chain Connectivity through APMEN held in Xiamen, China.
“We are excited with the launch of SmartFTAX, which is a result of successful collaboration between DNeX and APMEN to deliver on planned initiatives,” said Dato’ Patrick Wong, Executive Director of DNeX.
He said SmartFTAX will be able to help businesses namely SMEs who do not have internal expertise to manage FTA compliance, gain savings from preferential duties and sourcing for better materials from countries of origins.