Trustana and Xinhai Customs have signed a partnership to jointly promote cross-border trade between China and ASEAN, as part of the Joint Implementation Committee of the China-Singapore Connectivity Project (JIC).
On 11 April, 30 key cooperation projects between Singapore and Chongqing were signed during the 7th meeting of the Joint Implementation Committee of the China-Singapore Connectivity Project (JIC).
The signing ceremony was officiated by Liu Guiping, Deputy Mayor of Chongqing Municipal Government, Chen Zhensheng, Minister of Trade and Industry of Singapore, Yang Liming, Minister of Manpower and Second Minister of Home Affairs of Singapore, Tang Liangzhi, Mayor of Chongqing, Ren Xuefeng, Deputy Secretary of the Municipal Party Committee. Additionally, various other leaders attended and witnessed the signing ceremony as representatives of both parties.
Trustana, a B2B cross-border trade platform and Shanghai Xinhai Customs Co., Ltd., a subsidiary of Oujian Group, took part in the signing ceremony to mark the start of a joint project to improve connectivity in Chongqing China-Singapore.
The collaboration aims to jointly promote two-way cross-border trade in China (Chongqing) and the ASEAN region by minimizing costs and speeding up cross-border supply chains.
Trustana and Xinhai will explore practical issues faced by suppliers when exporting Food & Beverage products. The challenges include customs declaration, inspection process and import regulations of the destination countries. Additionally, both parties are seeking to promote data and technology cooperation by mutually developing a digital solution powered by artificial intelligence and big data to address these barriers to international trade.
The signing ceremony was concluded on positively with the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) willing to bring more flexibility to explore wider-ranging collaborations in future, pilot more initiatives, and continue to develop mutually beneficial projects.