Digitalisation will make international trade faster and cheaper

Global trade linkages and connectivity can be strengthened through digitalisation, which will make international trade faster, more secure and cheaper.

Singapore has always been at the forefront on digitalizatuon and intends to stay ahead.

Mr Gerard Hartsink, chair of the Initiative’s industry advisory board, said: “Digital trade requires common standards, taxonomies, and a trusted ecosystem for managing and sharing the massive amounts of data required by all market participants involved in the international supply chains and for the trade finance processes. With this work, we aim to substantially contribute to this quest, together with the many industry partners who have been critical to our journey.”

”…having common standards across jurisdictions will boost efficiency and make worldwide trade interoperable”

S. Iswaran. Minister-in-charge of Trade Relations, Singapore

“As articulated in our Trade 2030 strategy, digitalisation is integral to Singapore’s plans to strengthen our value proposition as an international trading hub,” said Mr Iswaran, Minister-in-charge of Trade Relations

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