Auckland, NZ. TradeWindow (NZX: TWL), a leading Australasian trade tech company has confirmed a successful proof-of-concept for digital trade between New Zealand, Australia and Japan, in a trial with a Japan-based counterpart TradeWaltz.
The trial arose out of the APEC 2021 meeting hosted by New Zealand. Later it became a part of the ‘Program for the Supply Chain Resilience in the Indo-Pacific Region’, with the backing of Japan’s Ministry of Economy, Trade and Industry (METI). It was also supported by New Zealand’s Ministry of Foreign Affairs and Trade.
TradeWindow and TradeWaltz are both members of the Pan Asian E-Commerce Alliance (PAA) – which is committed to building digital trade links across the region.
Chief Executive of TradeWindow, AJ Smith, said the execution of the trade documentation, was a key step towards full digital trade facilitation with Japan.
“This is a real step towards full digital trade with Japan. We conducted the trial with the co-operation of real customers on real trade routes with real products, and it showed the ability to rapidly exchange accurate and verifiable trade data between our two Australasian countries and Japan trade counterparts,” Mr Smith says.
The customers participating in the trials were general trading company’s Australian branch Sojitz Australia, and New Zealand-owned independent vehicle shipping and logistics company Moana Blue.
Both parties successfully used the digital platforms to perform three main processes in export transactions between Japan and Australia and New Zealand: (1) sending and receiving invoices, (2) sending and receiving export licenses, and (3) sending and receiving shipping documents (invoices, packing lists, etc.)
The results showed that the time required for data entry, sending and receiving, and data confirmation on the receiving end was reduced, assessed as a 60% gain in work efficiency the trial concluded.
Satoru Someya, Director, COO, CMO and General Manager, Global & Alliance Business Division, for TradeWaltz thanked everyone involved in the trial.
“Through the collaborative demonstration, we have confirmed that the trade procedures between Japan and Australia/New Zealand have been streamlined by more than 60%. We will continue to strengthen our efforts to become the world’s leading example of fully electronic trade between the two countries.”
His comments were endorsed by AJ Smith, CEO of Trade Window.
“Building out and proving the capacity for digital trade on key bi-lateral trade routes is an essential building block for TradeWindow as we continue our path to develop a truly global digital trade platform. This trial provides a strong case to continue to push hard to strengthen and deepen digital trade links, and we warmly thank our counterpart TradeWaltz, participating customers, and key government agencies for trade, for supporting this proof of concept,” says Mr Smith.