Digitalise Your Trade Processes with the Networked Trade Platform (NTP)
11 March 2022 @ 10:00 am - 11:00 am
Over 100 Chamber members and prospective members attended the 11 March webinar to learn more about Singapore Customs’ Networked Trade Platform (NTP). The Chamber is one of five authorized operators of Singapore Customs to issue Certificates of Origin and endorse trade documents in Singapore and has been doing so since 1923. We also launched the world’s first blockchain enabled electronic certificate of origin system built for us by GUUD. We believe in digitization and digitalization which is why we will be utilizing IMDA’s Open Innovation Platform to find the right vendor for our next project: an e-carnet application system.
For all these reasons, it was a real pleasure to host Mr. Andrew Ngo, Catalyst, Networked Trade Platform Office, Singapore Customs to update us on the capabilities of NTP and the key benefits of using it. He explained the electronic submission and exchange of Preferential Certificates of Origin between Singapore and China, as well as the Permit Return Service and its user-friendly data reuse capabilities. Chamber member Mr. Ryan Sequeira, Director, Head Global Trade Solutions Product Management, Transaction Banking, BNP Paribas APAC then shared a real life case study which leverages NTP to digitize and digitalize paper exchanges to achieve greater efficiency and security for 10 banks in Singapore and their customers. This is the CamelONE Trade Finance system also developed by GUUD and 9 banks. This collaborative effort is a real achievement with banks utilizing a neutral, fit for purpose 3rd. party system.
Our thanks to our two guest speakers and other officers from Singapore Customs for their time, expertise and engagement with our lively audience.
Watch the webinar recording here to learn more!