Monday, 10 December 2007

TradeXchange Receives Strong Endorsement

Since its launch some two months back TradeXchange, a new trade platform materialized to boost productivity and competitiveness in the Singapore trade and logistics industry, has apparently received strong nods from the nation’s trading community.

TradeXchange, which was introduced on 30 October 2007, was formulated to ease the exchange of information among commercial entities and government agencies to facilitate the movement of goods globally.

Built by CrimsonLogic – an eGovernment solutions provider—and based on a service-oriented architecture, TradeXchange is developed on the Java platform and is aligned with global best practices and technical standards including W3C (World Wide Web Consortium), UN/CEFACT (United Nations Center for Trade Facilitation and Electronic Business), OASIS (Organisation for the Advancement of Structured Information Standards), ebXML and RosettaNet.

CrimsonLogic secured the 10-year contract in January 2006 to develop, operate as well as help drive the adoption of TradeXchange under a Public Private Partnership model.

“After TradeNet, TradeXchange marks the next step in the development of Singapore’s trade facilitation framework. We are already seeing the fruit of our labour as the new trade initiative continues to receive positive feedback from users,” said Leong Peng Kiong, CEO of Crimsonlogic.

Singapore’s total trade rose by 2.8 per cent to reach 405 billion dollars in the first half of 2007.