DNeX's one-stop free-trade agreement service goes live

KUALA LUMPUR: Dagang NeXchange Berhad (DNeX) and Asia-Pacific Model E-Port Network (APMEN) have officially launched and made SmartFTAX a one-stop Free-Trade Agreement (FTA) service live.

The service is now operational for users in Malaysia and China, DNext said in a statement yesterday.

The official launch of SmartFTAX and its operability was announced at the China International Import Expo in Shanghai yesterday and officiated by Vice-Minister of China's Ministry of Commerce Wang Shouwen.

Also present was International Trade and Industry Minister Datuk Ignatius Darell Leiking.

DNeX was represented by Executive Deputy Chairman Datuk Samsul Husin and Executive Director Datuk Patrick Wong, while APMEN was represented by Director-General of APMEN Operation Centre Simon Huang and Chief Expert of APMEN Operation Centre Dr Li Li.

With the one-stop FTA service now fully operational, businesses from both countries are able to subscribe to the service via monthly subscription basis.

The primary aim of this service is to provide support for small and medium enterprises (SMEs) in Malaysia and China, especially for businesses in the Trade Facilitation and logistics sector.

DNext said with this one-stop service, businesses would benefit from greater cross-border trade efficiency and costs savings as it allowed them to check and compare FTA tariff rates from various countries, while enabling them to check the rules of origins, document requirements, latest policies and calculate tariff savings on a single platform.

SmartFTAX official launch and announcement of operability was a follow-through from a soft launch held in Xiamen, China earlier in September this year.

"We are pleased and excited to have expanded our Trade Facilitation services to China through the strategic partnership with APMEN.

"We believe this key milestone will create more business opportunities and further accelerate our market expansion efforts in the region,” said Samsul Husin.